For anyone interested in financial stability, saving is the key to all things. Here are five really good tips to save a lot of money with very little hassle.
One of the most important things in any persons life is the ability to save money. Every dollar you save, is a dollar added to your wealth, making you richer in the process.
So that means the more ways you know how to save, the more money you will have in your bank account.
Here are five excellent ways to save a small fortune without much effort.
1. Use coupons!
This is the most underrated way to save money that ever existed. When discount coupons are used, you can save anywhere from a few percent on your purchases right through to the extreme of actually getting things for free. It all comes down to how much effort you are willing to put in to tracking down deals and applying the coupons available.
You don’t have to be an extreme couponer, but you will certainly grow wealthier if you are, getting your groceries for a fraction of the price that everyone else is paying. Some of the more motivated people can walk away from a supermarket with $500 worth of groceries that only cost them $20. Think about that!
That’s $480 still sitting in your bank account. And you get the groceries!
2. Pay Cash!
The amount of money you will save just by paying cash is staggering! Some estimates indicate that the average person in a Western Country could save up to half a million dollars in their lifetime, just by paying cash! It won’t just save you money on interest payments, it will also get you extra discounts, avoid financing rates, and keep you honest about how much you spend because you won’t make purchases that you can’t afford.
And those around you will respect you more, because you’ve paid for everything that you have. This is the most directly effective form of saving, and will improve your lifestyle greatly.
3. Pay on time.
It is amazing how much extra money people pay because they are late with their payments. From video store fines, to parking fines, to overdue payments on bills. Most of this money is spent for no other reason than out of pure laziness.
Too many people choose to return things a day late and pay the fine, when they could have easily taken 20 minutes of their time to go and drop the items off. And even more people pay their bills late, choosing to have an unnecessary luxury instead, thereby incurring late fee’s or higher interest payments. Many utility providers even provide hefty discounts for paying early.
Published in: Personal Finance