How to Save when Money is Tight

Knowing how to save money when times are hard will see you in good stead for the future. The first thing one must possess, in reference to saving money, is common sense. Saving money, although hard, can be done when you have a plan in place. The first thing one must do is to cut out unnecessary purchases.

The words, ‘I need’ instead of the words ‘I want’ must be your mantra. When ‘I want’ is used, it nearly always leads to unnecessary purchases. This could be anything from an extra car or television, to shopping in the most expensive stores for food and drink. And it really only equals money down the drain – especially when bargains could be had within cheaper stores.  Within your home money is thrown away when electrical appliances are left switched on. This will see your electricity bill rise steadily over the month – and ultimately over the year. Again, money is wasted when it really could be saved.

Faulty electrical appliances cause nothing but wasted energy – and high bills – so get rid of all appliances which are not working. By doing this, it will not only save on your electricity bill, but save you money in the long run. As for food and drink, shopping at cheaper stores that offer the same range of food is another way to save money in the long run.  This will also keep more money within your purse or wallet.

As for furnishing your home. Do not shop at the so-called ‘top stores’ but instead, begin to use your local antique store. If you do not use it you will lose it, and there are some great bargains to be had within such stores.  Why pay more for a wardrobe, table and chairs, mirrors and such like, when you may pick up bargains within your local antiques store, or car boot sale?  The money you could be saving, could be a lot.

Sit down and make a list of all of the things you really do not need. You will be surprised on how much money you will save. By shopping around for cheaper deals for the things you ‘need’ – instead of the things you ‘want’ – your savings will soon begin to grow.

Within your home, if you are thinking about purchasing double-glazing then do it. It may seem expensive at first, but it is worth its weight in gold in the long run. Good double glazing will see your energy bills cut in half by the end of the year and you will get back what you paid for it.

Double glazing saves on energy because it keeps your home warm. This means that you will not need to turn the heating on so much, thereby saving you on gas. In reference to energy companies, shop around for the best deal you can get. Go for those utility companies that offer both gas and electricity in one go. Therefore, when discounts come around – which they will – you will be offered discounts on both gas AND electricity [rather than on two separate bills. with one company that deals in gas, and another that deals in electricity.]

Get into the habit of saving money and it will soon become second nature. Purchase a pushbike, if you can, this will not only save you on fuel – if you have a car or motorbike – but also on your car tax and road tax too. Plus, riding a pushbike is a healthy way to travel. Again, pushbikes may seem expensive, what with the protective headgear, and any other extras you will need for your safety,  but they will pay for themselves in the long run. The money you will save by using a pushbike will be an eye-opener to you.

People who grow their own fruit and vegetables will save money – this stands to reason. If you have a garden, then you could use that as a kind of allotment. Sectioning off different parts of your garden, to grow beetroot, peas, potatoes, carrots cabbages – as well as fruit too – will see your savings soar on your food bills alone.

If you do not happen to have a garden, then you can still grow your own food by obtaining oblong plastic containers in which you will place good soil in order to grow your food. These containers come in many sizes, from small to large, and can be placed anywhere, in your yard. As long as the seeds are getting plenty of light, and enough water, you will soon be growing your own fruit and vegetables in no time.

Get rid of all extra credit cards that you really do not need. Pay off any outstanding credit bills, and once this is done, cancel your credit cards –  leaving yourself with only one, manageable card. This will save you money because you only have one credit card to concentrate on rather than two or three. However, there are a lot of people that are applying for debit cards.

These cards are like credit cards but you have more control over your money. There are two types of debit cards, one that is attached to your bank – which means that you can only spend what you have on your card by the money that is in your bank account.  Once the funds run out, you will have to charge your debit card up again by adding money to your personal bank account.

Then there is the debit card that is issued by financial companies. The customer pays a small fee for the use of the card, every month. Once this is done, the customer will then charge their card by adding money to it. Whatever the amount is placed on the card, is the amount that you are allowed to spend.

The card is charged at any good store who will swipe your card through a computer terminal, thereby charging the card with the amount you want on it. You then pay the money you want on the card to the shopkeeper who will issue you with a receipt for the ‘said’ amount.

Debit cards are a great way to have more control over your money. They take out the worry of getting into debt – as there is no credit card bill to pay at the end of the month. The good thing about debit cards is that they carry no APR [Annual Percentage Rate] that credit cards do. This is another good way of saving money in the long run.

Saving money takes a common sense approach. It is hard, but the rewards can be great if you stick to your plan. And if you really sat down and thought about it, then the savings you will make each year, could go toward treating yourself every-now-and-then. if you follow the examples within this article, then you will not go far wrong.