money saving tips small

Economic crises and increased unemployment are some of the reasons why nowadays more people are starting to save.

Most of us are searching for new ideas and suggestions of where and how we could reduce our expenses.

Today I am going to show you a few money saving tips, which you might be useful for your savings.

There are various money saving tips around, however the ones I suggest below should be good starters if you are planning to save some extra cash.

This might need some initial work and motivation, but after some time it will pay off.

1. Buy in Bulk

Products such as toilet paper, shampoo, tissues, canned food, cereals, rise, or any other item that lasts a long time, make sure to always buy in a bulk, especially whenever you find them on sale.

It’s a great way to save money in the long run.

Moreover don’t forget to use discount vouchers, which you may find in the local newspapers, supermarket magazines or online.

Consider buying supermarket branded products. Most of the time, their quality is very similar to more expensive brands.

Usually supermarket branded products are much cheaper, just because they use simple packaging and spend less on advertisements. This doesn’t mean that they are bad quality goods.

2. Plan your shopping list

Before going shopping make a clear list of what you need.

This will stop you buying unnecessary items, while still getting the ones you really need.

This is a great way to resist buying whatever you see on your way.

Also, never go shopping when you are hungry.

3. Try to cook at home

Try to organize your whole week menu and stick to it. This way you will avoid buying unnecessary goods.

Cooking at home rather than eating out will save you quite a lot. And not only it’s cheaper but also healthier.

It’s a great idea, as you can cook in bigger quantities and freeze rest for later.

If you don’t have much free time during the week, try cooking bigger quantities in weekends and freeze it for the next days.

Take a prepared lunch box to work. It will save you money and give you a chance to spend more time chatting with your colleagues on your lunch break.

4. Sell unwanted/old stuff

In every house there are unused or unwanted goods.

You always can sell them on eBay or Amazon. It’s very simple and you can get quite a bit of income by selling old unwanted clothes, shoes, bags, jewellery and other unused stuff.

For example I recently sold my old camera on eBay and received twice as much as I would have gotten if I sold it to a used goods shop.

It’s really worth trying.

5. Switch off electricity items you are not using

We are surrounded by many different electronic devices in our home.

To help reducing your electricity bills (especially in winter), it’s a great idea to unplug all your electronic devices when you aren’t using them.

Most devices still use quite a lot of power in stand-by mode, so at night or when you go to work,  unplug them from electricity (like TV, PC, game consoles, kitchen appliances, …).

Also, when leaving a room always switch lights off.

The amount you will save per year can be incredible high and might even surprise you.

6. Think twice before buying an expensive item

Impulse buying is one of the main reasons why our bank account balance is not always what we would it to be.

If you are really desperate of buying something expensive give yourself a couple of days to think about the investment.

First of all, ask yourself if you really need it. In most cases you will be less attracted about buying when you realize that the item isn’t really needed.

Also important is to compare prices. You might find that other stores sell it cheaper or have the same item in promotion.

7. Avoid credit cards

Credit cards are very convenient and easy to use, but you should try to avoid them.

You don’t even realize what impact it can make to your finances in the long run.

It’s always very easy to spend, but very hard to repay back and especially when you also need to pay different credit card charges.

Instead plan your monthly budget and try to stay within it, avoiding unnecessary items and further financial problems in the future.

8. Reward yourself

Saving plays a very important part in your life.

It’s also important reward yourself and relax once in a while, but this doesn’t mean that you need to spend all your monthly savings doing it.

Make a reward plan which won’t allow you to go over budget, but which allows you to enjoy life.

For example: If you cook and eat at home all month, you might treat yourself a meal out once a few weeks/month.