It is important to save money because you might not be financially buoyant at all times.The following money saving tips below will ensure you have something to fall back on if you can stick to it.

1. Have a Budget.To be able to save money, you need to develop a budget. This requires self discipline though. You need to know what your income and your expenditure is to determine if you can truly afford what you are spending. If you are spending above your means, you can now discipline yourself to cut back on what you spend. To determine your expenditure, you need to keep track of your expenses so that with this you can make better decisions on how to allocate your money, you can do this by getting a receipt for everything you buy and reviewing it at the end of the month. If you can stick to your budget, you will be able to save money.


2. Eat Home Made Meals.Preparing meals at home is cheaper, healthier and tastes better, this can help you save money especially if you reduce the number of times you dine out and eat at home instead. You can also pack your home made meals to eat at work thereby reducing your daily spend at work. Even if you don’t know how to cook, all you need to do is to buy a cookbook to learn how to cook and over time, you will become a pro at making home made foods and saving yourself tons of money.

3. Make a Shopping List to avoid buying items on impulse, make a shopping list before you go shopping and stick to it. Failure to do this will mean you have to make decisions on what to buy when you get to the market. This can make you end up buying things you didn’t plan to buy and spending more money than is necessary.


4. Avoid buying items on impulse.Give yourself time to think it through if you really need to buy an item before you make your purchase. Some people follow a time rule of 24 hour before making a purchase while others wait for 30 days, whichever amount of time you are willing to wait, its up to you but it will help you to make a final decision if you really need to make the purchase. You will end up saving money this way instead of buying unnecessary things.

5. Save Energy When not in Use.Your electricity bill can be reduced if you cultivate the habit of switching off lights that you don’t need. When you leave a room, switch off the light and also switch off the lights in your house when you are going out. Alternatively, you can also change the bulbs in your house to energy saving bulbs to save money.

Unplug devices that you are not using and turn off electrical appliances such as water heater and air conditioners that are not in use. You can save tons of energy by doing this thereby saving money.


6. Purchase Items from Second Hand Shops.If you search well, you can get good quality items at low prices from second hand stores, thrift shops, garage sales and pawn shops. The list of things you can purchase is endless, you can buu clothes, jewelry, furniture, cars, sports equipment and tools at half of the original price.

Other things you can shop for at second hand value are books, textbooks, musical instruments and even CDS and DVDS. Over time, you will be able to save a lot of money which can be used for more important things.

7. Cut down on Communication Costs.Review what you spend on communication and cut down on your excesses. When you are online, send e-mails instead of making phone calls as e-mails are free. You can also reduce your calling costs by searching for less expensive plans.

Have a knowledge of your service provider’s peak periods so that you can make your calls when it is less expensive during off-peak periods. Understanding area coverage, roaming and termination charges will also help you save a lot of money. You can use free conference calling system for your business.


8. Plan and buy gifts in Advance. Give yourself enough time to plan for the kind of gifts you will like to get for your family and friends as this will enable you to think properly on the best gift to give which might likely not have to be the most expensive gift for it to be the best gift. Having enough time to plan for gifts will also give you the opportunity to purchase items on sale.

9. Find Cheaper ways of Entertainment. If you like reading books, borrow books to read instead of buying them. You can visit the library to read and borrow books thereby saving money in the process.

If you love watching movies, you can stream movies on the internet with your computer. You can also stream movies on smartphones and tablets.

You can cut down on what you spend on cable by giving up premium cable channels. There are also free cable Tv options available thereby saving you lots of money that can be channeled for better use.


10. Reduce Transportation Costs.You can reduce your transportation cost by walking or cycling, this is beneficial to your health and you will save some money while doing this. You can also use the public transportation thereby saving money on car maintenance, fuel and parking tickets.

If you need to use a car once in a while, you can consider renting one so as to avoid repair and maintenance costs. This way, you only get to pay when you need to use the car. If you have a car that you use regularly, drive within the speed limit as speeding decreases the fuel economy of a car. Also take proper care of your car by doing regular oil checks and other maintenance on it because a properly maintained car gets a better resale value. Instead of using the car wash, you can wash your car yourself and save the money you will spend at the car wash.


In case you missed it, check out the “Do You Even Lift?” post for the 6 main reasons to start weight training.

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