Little Tips Make for Big Savings

Finding ways to save money is a necessity for most people. A good number of people will agree that while saving money is a challenge it is also critical to making that dream vacation a reality or simply to make ends meet. Saving doesn’t have to mean doing without but rather spending smarter. Making a habit of saving on the little things can make a great impact over time.

Go Green: It’s the rare these days to find consumers that pay with cash. Going back to green can save you money in the long run. On most occasions swiping your credit or debit card is costing you anywhere from a few cents to a few dollars. Many businesses that accept credit cards have a hidden charge attached to the purchase. Taking a close look at the charges accumulated on your bank statement each month will help you realize the amount being paid out in unadvertised card fees. Going green and carrying cash can save you hundreds a year of unnecessary hidden fees. It’s not always safe to carry large sums of cash so if you have to use the ATM make a habit of getting your cash from an ATM sponsored by your own financial institution.

Don’t be so Quick to Throw it Away: Determine first if a broken item is able to be repaired before replacing it. So many unnecessary expenses come from replacing items that are easily fixable. We live in the internet age where information is at our fingertips. If it’s a larger item such as a washer or a faucet, do a quick internet search to see if it’s worth repairing before replacing it. Many times the symptom is something small such as an appliance being off balance or a missing screw that is an easy fix. Before deciding to throw an item away and incur an expense of replacement spend a few minutes to determine if it’s worth fixing. Superglue and Duct Tape is a homeowner’s best friend. Need I say more?

Buy It Once: Disposable may be easier but it isn’t always economical. We live in a disposable world; from razors and cameras to diapers and gloves. Depending on what you are buying purchasing the same items over and over doesn’t make much sense to the pocketbook. Spending a few extra dollars for a razor, camera or a travel mug will be more economical and environmentally friendly than purchasing that same over and over again. Purchasing paper plates for a summer picnic may make sense, purchasing them weekly for your routine meals may not. Think about your purchases before you make them. If you plan to use an item regularly make a commitment to buy it once.

Create a Personal Stash: Put a set amount of money away every chance you get. Don’t put it in the bank or in an IRA but create your own hidden stash. It can be in a coffee can, under your mattress or in the box behind your summer shoes. Make a commitment every paycheck, when you find a $20 in your coat pocket or when you return your aluminum cans to make a deposit to your personal stash. It doesn’t sound like much but it can add up over the course of a year. If there is an unexpected expense that may arise such as needing to purchase a gift for the birth of a friend’s baby or that concert you really want to see you will have some money set aside. The best part about it is it won’t put a dent in your checkbook.

Buy a Bottle of Vinegar or Three: There have been several books written about the many versatile uses for vinegar. Vinegar is cheap, natural and can be found in just about any grocery store. Vinegar can be used to replace many of the expensive household cleaning and beauty products that are in the home. It is effective and serves many purposes from cleaning windows to making a salad dressing to a cough suppressant. Acquainting yourself with the many uses of vinegar and using it in place of expensive products will save you easily hundreds of dollars each year.

It Doesn’t Hurt to Ask: We all know that most businesses are at the mercy of the consumer. Businesses often have surplus or scratch and dent products that may be offered at a lower cost. It doesn’t hurt to ask if a business has a product or service at a discount that you may be shopping for. Computer repair shops have shelves of computer supplies that are not being used. Vendors aim to leave a carnival with less baggage than they started with and on the last day will typically be open to bartering for cost. Antique dealers, used book stores and thrift shops are usually open to the trading of items of equal cost. Most local shops and businesses will sell last seasons overstock at heavily discounted prices because they have the power to control their prices in house. For most businesses the goal is to get rid of the inventory. It doesn’t hurt to ask about discounts or barters that will result in money saving bargain for you and a sale for the business.

There are as many money saving ideas out there as there are ways to spend money. Most strategies to saving are not new ideas but rather basic concepts just waiting to be adopted. It is impossible to adopt every money saving strategy in the universe but a adopting just a few can add hundreds or thousands to your bank account each year. Most importantly saving and spending wisely can help you increase the control you have over how and when you spend your hard earned money.