Article by Alex Stapledon
Earning money is a sure hard thing to do. And when the hard earned money is already in your possession, it becomes even trickier to make that valuable amount remain in its place! These days that the cost of living and the price of commodity has been soaring high, putting aside and correctly using cash is of huge significance.Extravagant and thrifty ones alike are challenged by the task to save money. If you are saving money, you will soon discover that it is easier to say ‘saving money’ that actually doing the ‘saving money’. Spending less money is not all there is in Saving. Time and again, you hope to set aside some cash and sooner or later discern yourself almostmore or less not making up what you have planned particularly if there are debts left unpaid. You should know and remember the maneuvers of money saving techniques.A goal is important in saving money. Prompted by some things you wish to buy, eventually you’ll have to stash away cash so as to pay for it. Though before saving, settle first the debts you still need to pay. Stashing some cash for saving is easier when you are already free of debt. Knowing where your money goes is a must. utilising an account at one of the major banks can help this process.Arranging a time frame for putting aside some money is as well helpful. If there’s a goal you plan to achieve, then set the time period within which your saving will happen. Decide on your goal’s feasibility within the time frame to prevent disappointment if in the end your goal was not met. Preparing in advance does not hurt especially if that plan is set on more productive purposes.Documenting of your spending is an additional tip in saving money. For each month there are bills to pay and pantries to refill. Make a list of all potential outlays and expenses to make for a definite month like electricity, water and telephone, groceries and tuition fees. After everything has been included in the budget, there will be a surplus in your money and can then be set aside for saving.Expenses can be quite unpredictable in real life situations. Costs of supplies as well as travelling fees vary every now and then, bending your budgeted and saved money. Times would present that your expenses be cut or search inexpensive substitutes for your supplies. For instance in buying, you can do weekly shopping instead of an everyday trip to a side store or market.A certain portion of your paycheck is set aside for weekly spending. It is important not to use more than that allotted sum in a week because you would touch your next weeks’ budget thus changing your plans and goals.Another factor affecting your plan to save money is impulse buying. Malls are abundant with products enticing us to excessively spend. Diminutive bits and pieces like breath mints and candies, coffee at starbucks and leisure magazines are those items you purchase with no awareness you are doing impulse buying. Also another spending problem and hindrance in saving is the use of credit cards. So purchasing with credit cards, eventhough it seems workable and payable. It will only give you piles of debts instead of wads of cash for saving.
About the Author
Alex Stapledon is a writer for Banks, Australia’s leading banking related website.
1) I cut my own hair. I bought a buzzer, and it lasts about a year. I used to get a haircut every month, at a cost of (including tip, not including gas money to get there and valuable time spent there). So I save the cost of about 11 haircuts a year. I do the same for my three sons, saving another 36 haircuts (at each). Annual savings: 0. 2) No Cable TV. We watch DVDs, or read. I don’t spend much on DVDs either (probably less than most people, per month). Cable costs about /month. Annual savings: 0. 3) Became vegan. I eat a lot of fresh fruits and veggies, which are expensive, sure, but you are supposed to eat those whether you’re vegan, vegetarian or a carnivore, so I don’t count those as extra expenses. The real comparison is between meat, and the protein substitutes I use. Most of my protein comes from tofu, although I do eat beans and soy protein such as fake ground beef or soy burgers. Overall I believe I save about -3 per day not eating meat. Annual savings: 0. 4) Don’t use the gym. I used to be a member of a gym. Didn’t use it much, and still got charged for a full year. Now I get a lot of exercise, but I do it at home and on the road. I do strength exercises in my living room and jog (and will soon start cycling and swimming). Annual savings: 0. 5) Rarely go to the movies. I used to go out to the movies at least once a week, and sometimes more. I slowly made it every other week, and now I don’t even go once a month. Now we take the …
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