General Saving Tips
- Build an Emergency Fund: Sometimes small saving can diminish your big problem. The emergency saving fund is best for low-income families. As per the research, Low-income families saving at least $500 in the emergency fund have better financial option comparing to a moderate-income family with less saving.
- Establish your budget: Most of us have the problem with overspending. When you don’t know how to manage you're earning then surely you’ll hit the problem in coming days. So, it’s time to begin. On the first day of the month, get a receipt from everything you’ve received. At the end month, calculate all the money you have spent then you’ll surely find out in which place you need to control your money.
- Make a saving plan: People with the saving plan are more likely to be successful in future. There are peoples who became rich through their wages only. It’s really surprising, is it really possible? So set your goal and make a plan to achieve success in your coming days. People of young age with the saving plan are happier during their retirement days.
Entertainment Savings Tips
- Take advantage of your library: Modern technology has revolutionized the world. Even libraries around the world are using advanced technology. Nowadays, you don’t need to visit the person for books, libraries are offering e-books. They even loan books with minimal charges. You can also borrow tools like a sewing machine. So, you can easily save a small portion.
- Enquire for unadvertised theatre ticket: Check through mail and call, whether theatre nearby is offering an unadvertised ticket or not. Most of the theatre offers seats for adults, a youngster with a minimal offer. Sometimes they also offer a rush discount, before the show.
- Volunteer at a local festival: Be active and participate in cultural festival and events as they offer free admission to program volunteer. Enquire about the event you are interested and contact the event organizer to ask about volunteer opportunities and benefits.
Banking, credit and Debt Saving Tips
- Use only the ATM’s of your bank or credit union: Most of the time, people use the ATM and credit card of another financial institution. At that time that doesn’t seem to be a big deal. But if the bank is charging about $3 dollar per transaction then it would be $150 per year. Wasting about $150 just for nothing is really costly.
- Pay all of your bills on auto-pay: Paying your bills and loan on time could save your money. Make ensure that you pay your bill on time, in order to avoid late fee or fine. Many loan companies and banks offer small portion of deduction or discount if you pay the bill on time. So it’s better to choose this option for better savings.
- Start with a goal of reducing your credit card debt by just $1000: Deducting $1000 debt would probably save your $150-200/year in interest. You can save more than that if you’re paying plenty rates of 20-30 percent.
Food Saving Tips
- Brown bag your lunch: Every year, we spent lots of money for food. Brown bag your lunch is best option to save money on your food account. At work, your lunch may cost $5 but carrying lunch from home could reduce half of its cost, that’s $2.5, then in a year, you can save about $500 or more for your emergency fund.
- Save money and time by doubling the recipe: If you are making a family favorite, then just double the recipe and freeze half of its portion for next. That will surely save your time as well as money. While making two meals, you’ll surely use fewer ingredients and next thing; you’ll use less gas while cooking.
- Make an advance list while grocery shopping: It’s obvious, people who do shopping by making a list will probably spend less amount of money compared to those who decide to buy on the spot. Most of us plan to buy when we get into the market. So, make a list and stick to it that easily save hundreds of dollars in a year.
Health Saving Tips
- Comparison shop for prescription drugs: Don’t just rely on drugstore nearby. As we all know the cost of drugs varies from store to store. Just inquire about the best option that can save your money. Just check out pharmacy and supermarket. You can also find drugs for cheap through mail order.
- Go generic: Consult your physician, whether the generic prescription drugs are the best option for the patient or not. Generic drugs can be available at low cost and can save your several hundred dollars in a year. As we all know physician always don’t know the cost you suffer, so you have asked them.
- Purchase store brand over-the-counter medications: Store brands are of low cost and often available at 20-40 percent less than that of advertised drugs. Both are made by the same formula. Branded drugs have also charged advertisement cost in their selling price. So, search for the better option that can save your money.
Family and Friend Saving Tips
- Create a family spending limit on the gift: Create a proper plan and start spending in the limit on gifts within your family. Make a schedule and start to buy just one gift for one person during the holiday. Surely, it’s gonna work, that’ll reduce your expenditure and your family can enjoy with less financial flexibility.
- Start saving for college at the baby shower: It’s never too late or soon for saving. So, it’s better to start saving for your newly born baby’s college. That would surely help you out during his/her coming days. Instead of lots of toys and clothing, start saving for his/her future
- Designate one day a week a ‘no spend day’: Start planning for no spend day, and reserve one night for free family fun. Cook at home and plan out activities such as game night, watching family movie or Visit Park that comes for free.
Transportation Savings Tips
- Check multiple sites for low airfare: If you are planning to travel by air then check the list of airplane fare. Don’t just rely on single airlines fare, search for the best option available on the different airline's website. During occasions, many airlines offer discount for limited passengers.
- Comparison shop for auto insurance: Always search for the better option available in the market. Before you make car insurance or renewing your auto insurance policy, check out for the best rates. The insurance rate varies from one company to another. Choose a plan that saves your money and delivers good service at low cost.
- Invest in car maintenance: To control your unwanted car expenses, you just need to maintain your car engine and every day check its tire pressure in the long run. It can save you from huge expenses and can save your $100 a year in gas.
Home saving Tips
- Refinance your mortgage: Nowadays, you can find the best option through the search engine at the very lower interest rate. If you find $100,000 for 15 years, lowering the rate from 7 to 6.5%, then that can save more than $5000 in an interest charge. Then, you’ll collect home equity that helps you during the time of your large emergency expenses.
- Cut laundry detergent and dryer sheet use in half: The laundry detergent available these days are highly concentrated and powerful. Only use the smallest amount of it and still get clean clothes. In some occasion, using small portion can wash more effectively. And using just half sheet of the dryer can also give the same result and can cut your cost.
- Lower the temperature of every your water heater to 120 degrees: Be smart and just try to save for coming days. Do you know? For 10 degree reduction in temperature can lower your cost of your heater and you can save up to 5 percent of its total cost of water heating.