6 Tips For Budgeting And Saving Money
There is an old saying that patience is a virtue and that is specially true when looking at tips for budgeting and saving money. Take time before making any purchases, major or minor, to consider whether or not you really need them. You can save yourself a lot of money by exercising the moral fortitude of patience.
Here are six areas to get you started.
- Do not take the car on short journeys – walk. Gasoline is expensive nowadays and a car uses more when it is just warming up so it is best to cut out these short trips. Not only that you will not have to pay any parking fines and walking is better for your health so you will have to pay less on medical bills in the future.
- Wait 24 hours before you make any non essential purchase. This will give you the time and opportunity to search and compare from a number of different suppliers. The internet makes this a lot easier than it used to be. Check out 4 or 5 different retailers. You will be surprised how much the prices vary by.
If you tell them that you are doing a price comparison exercise, it is amazing how much their price will suddenly drop by. You can only gain from this.
- Look out for all the coupons. Take time to clip them out of the newspaper and make sure that you take them to the shops with you. In fact keep them in your handbag or wallet so that you have them whenever you need them. It is very frustrating to reach the checkout and find that you have left them at home.
There are now ecoupons for use in internet shopping. You can usually save about 10% at least with them.
- Record everything you spend money on. Hang on to all your till receipts and put them in a record book or spreadsheet when you get home. Even if you go to spend a penny, record it.
This is the only way you can find out how you spend your money. You will also know when a credit card or other bill is due for payment and can make sure there is enough money to cover it.
- Wait at least 24 hours before making any “want” purchase. Rather than buying something that catches your eye whilst out window shopping, go home first and see whether you feel the same about it tomorrow.
Also check your spreadsheet. If you eventually buy you will know that you do really want it and can afford it.You will find that you will do a lot less impulse buying this way.
- Set up an emergency fund. You never know when you need a car mechanic or a plumber. If you have the money there all ready, it will not be as painful.
I hope these tips for budgeting and saving money will set you off on the road to being much more in control of your financial planning future.