Money Saving Tips – Maximize your Savings

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Frugal Living is a must

The hard financial times have made it difficult for families to cut down on their budget and increase their savings; especially with the growing needs of their children, the rising food prices and never ending increase to utility bills like gas and electricity. But did you know that even with the common predicament that we all share, you’re still able to save as much as 10,000 a month? Let me share with you some money saving tips that have helped me save thousands each month.

Evaluate services you don’t use – when I review my monthly expenses, the first thing that I chopped off was my cable; in this case, yours might other cable providers. Ever since I found out that I wasn’t able to watch premium channels like HBO and CINEMAX, and even writing them on DVD still didn’t help, I decided to drop the premium channels which helped me saved tons.

Stop unused entertainment expenses

With the help of free events, coupons and promotions, we were able to get our entertainment for a low price or even for free even though I was back to paying for monthly movie costs again. If you feel that you can’t keep up with such a costly maintenance, it would best if you stopped paying for the service entirely. Another is lowering my bandwidth speed since I mostly use my home Internet for surfing. Though an extra speed might be of great help however my need is not demanding as compared to the others. Hence, I was able to save thousands as well.

A look at your phone bills

A friend of mine uses postpaid subscription with a home package including unlimited long distance calls but I noticed that he hasn’t been using the full amount of his minutes. I suggested that he call the provider and ask about different plans or discount ideas. By changing plans and lowering minutes, he was able to reduce communication expenses by as much as 15%. I sort of did the same thing however transitioned to prepaid instead.

Smart coupon clipping

Clipping coupons is an art. It won’t save you money or time if you don’t follow these smart rules for using coupons. By following these rules, I was able to shave off a few hundreds of my recent groceries and I also found out that you can save tons as well.

Never cut if you won’t use it
Never buy anything just because you have a coupon.
Stock up on coupons when grocery items are on sale.

With these tips alone, you can save up to thousands by cutting down on unnecessary expenses and following smart buying choices. Just imagine what you can do with a few extra a month: pay for your child’s college? Save for a dream vacation? Or use the money to invest. 

Whatever your reasons may be for saving money, these tips will greatly help you. 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 30 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.