More Money Saving Tips

When there just never seems to be enough money by the end of the month, one must try whatever is in their means to make what income they have, stretch well into the beginning of the next month.

Trying to find ways to save money these days is almost a job in itself. But, there are some really easy guidelines to follow, and you might just find yourself with more money at the end of each month, to either help pay down some bills or to tuck away for a rainy day.

Buying Second Hand

Buying used or second hand is nothing to be embarrassed about these days. Everyone is doing it, as everyone is pretty much in the same boat. There are so many wonderful second hand or vintage shops, or even yard sales. Yard sales have become very popular over the past decade or so, and you can always snap up some great bargains, especially when looking for children's items.

Children tend to outgrow their clothes, furniture and even toys long before they've had a chance to wear them out. Buying used can save you 1/2 or even 3/4 of the cost of what you might have had to pay by purchasing retail.

Good furniture or household items can also be found at yard sales or second hand shops, again, at a fraction of what you'd pay retail. Many of these stores will even sell new items for less, as they may have been purchased by way of liquidation sales. Therefore, you are getting a new and quality product for far less than you'd pay at the malls or department stores.

Saving Money On Electricity

Another way to save money is to hang your wash out on a line or on a clothes rack to dry, instead of using an electric dryer. Dryers consume a lot of electricity.

One might consider only using the dryer for about 5 minutes per load, to just fluff and soften the clothes, after having dried them out in the sun. Five minutes in the dryer, as opposed to the usual 50 or 60 minutes per load, can save you substantially over a month's time. This should save you several dollars on your monthly electric bill, keeping much needed money for other important uses or a savings account.

Park The Car

During the nicer weather, consider walking or riding a bike wherever you have to go, if at all possible. You'd be amazed at how much money you can save on your gas bills and vehicle maintenance by not jumping into the car for those short trips to the store, etc.

Public transport is also an excellent way to save money. Walking or taking a bike might not always be an option time or weather-wise when going to work, so the bus would be a good, inexpensive alternative to driving. This too, saves on gas and vehicle maintenance, as well as the frustration of paying parking fees or tickets.

There are also car pools, one might consider, cutting your gas consumption to a fraction.

Saving Money While Shopping

For those big ticket items, be sure to comparison shop. It might take a little more time to get that item that you've been eager to purchase, but by checking and comparing all the store prices first, you could save yourself hundreds of dollars.

Never "impulse" buy. So much depends on timing. Consider the time of year that you intend to purchase the item. Certain times of the year, prices may be bumped up due to higher demand. Buy off season if at all possible.

If you are fortunate enough to be able to purchase a new vehicle, consider one that is already a year old. Some car lots might have last year's model still on their lot. They can no longer sell it AS new, at a new car price. You can save as much as $10,000 by not being too picky about getting this year's model. Besides, often times, vehicles don't change that much in looks from one year to the next. You still get that new car feel, but can smile all the way to the bank.

Save Money By Paying Yourself First

Lastly, a good tip in saving money is to pay yourself first. This does not imply that you give yourself a nice lump sum of money from your paycheque, to do with as you please, going on a spending spree, but to set it aside in savings.

The general rule is to give yourself approximately 10% of your paycheque each month. However, if you're unable to set aside that much, start with a lower percentage. Then budget your monthly expenses around the remaining amount of your monthly income. If you're doing that correctly, each and every month, without dipping into the saving, as well as cutting down your expenses in other avenues, you should find yourself with a nice sized nest egg in years to come.

Trying to save money doesn't have to be a chore nor a painstaking procedure. Once you set some spending boundaries for yourself and your family, and by implementing money saving tips, it can become second nature. Before you know it, you'll have money in the bank without having to do without some much needed items in your life.