You Must Feed Your Piggybank!
Saving money is a great idea! It is just like losing weight is a great idea! Feeding all the hungry is a great idea! Savings the whales is a great idea! Nobody will argue with the above assertions. However, implementing these ideas is where the rub comes into play. Great ideas often have exceedingly difficult solutions. In this case, saving money is not one of them. Anyone can save money. It is not a difficult task if they just take that first step and begin to turn their financial life around.
Little steps are the key. Each little step is compounded over time to realize one’s goal of financial savings. There are numerous tips and tactics available to help one achieve this goal. Following is a list of some of those tactics that can make a huge difference in the financial stability of anyone so motivated.
Use a bank that is customer friendly. Forget banks that are fee crazy and intent on taking your hard earned money. Maintenance fees and costs for checking and savings accounts are simply not to be tolerated. Switch banks as there are plenty of free alternatives, such as reimbursed atm withdrawls, cheap personal checks, or overdraft protection.
This one may surprise you, but studies show that financially secure individuals watch less TV. So turn off the idiot box and spend your time in more worthwhile pursuits. Watching TV also exposes you to much more advertising that may entice you to spend money best left in your bank account.
Sign up for every free customer rewards program you can. Just like coupons, create a data base and each time you are ready to shop, refer to your newly established data base for reward opportunities.
You need to develop a check and balance procedure to help determine if purchasing something that is no absolutely necessary is a wise move. Many people use a 2 week or 1 month waiting period. If the urge to buy after the waiting period is no longer there, you just saved yourself from an unnecessary expense.
Entertainment is necessary and should not be eliminated from anyone’s budget. However, you might want to consider inviting friends over to your house rather than going out to a fancy restaurant with a fat bill awaiting you afterwards.
Clean out your closet, your attic, your basement and your garage and take all the stuff you no longer use or need and sell it in a yard sale. It is amazing how much money you can make by simply getting rid of stuff you no longer want and will not miss
Call your credit card company and ask for a rate reduction. Many times credit card companies will be glad to negotiate in an effort to keep your business. If they aren’t willing to help you out, maybe it’s time to change your credit card. There are websites that show the best credit cards of 2012. The same can be done with your phone company, your internet provider, and the cable company.
Drink more water. It is better for your body and it will reduce your grocery bill by leaps and bounds as you no longer will be purchasing sugar-laden juices, soft drinks, sports drinks and bottled water.
These ideas may seem extreme to some, but incorporating just a few of these tactics can save you big money over the course of a year.