The ultimate guide on How to save Small Money
People often look for BIG solutions to their financial problems when taking care of the small dollars is the right solution. That adage of ‘taking care of the pennies and the pounds will take care of themselves is as effectives today as ever it was.
Becoming smarter with the small dollars enables you to acquire effective money habits, ensuring that when you have access to big dollars (such as pay increases, superannuation payouts, for example), they won’t slip through your fingers.
We’ve compiled a list of TEN good money tips to help you save - or accumulate - dollars:
DON’T GIVE MONEY AWAY:
The small charges mount up considerably! Like *account keeping charges *late payment charges * handling fees - such as sending out paper invoices/statements. If you’re dealing with companies that are robbing you by stealth, call a halt by moving companies or challenging their charges.
SAVE MONEY BY BUNDLING:
Use one provider for your phone, internet, cable, etc. You’re likely to get discounts by combining services and saving on double charges such as line rentals. Check out the following website for a better deal.
COMPARISON SHOP:
Never buy a product or service until you have got at least three quotes, and make sure you compare apples with apples. [i.e., beware of the hidden traps]. This is highly recommended for products such as car/health/house insurance etc.
NEGOTIATE:
Don’t be afraid to tell the salesperson that you have shopped around; show them the lower comparison price. In the majority of cases, they’ll beat the price or throw in some ‘sweeteners’ to get your business.
GET INTERESTED IN INTEREST:
Interest in borrowings is inevitable, but you can still save some of that interest for yourself. Paying out your mortgage early by adding a little extra to your monthly payments; paying more frequently if it’s daily reducible interest instead of monthly; shop around or negotiate for a cheaper rate rather than accept what’s being offered;
TAKE THE SOCIAL CHALLENGE:
Look for creative ways to cut your entertainment expenses; dinner parties at home rotated around a group of friends is a lot cheaper than dining out; or use discount coupons for affordable meals; free concerts; house concerts are an inexpensive alternative for a group of friends; host a games night for a group of friends - bet you haven’t done that for years?!
DEMOTE THE ‘BIG NOTE’:
When did we take on board the idea that our value as a person was inherent in the value of the gifts we give? Each year we try to outdo our previous year’s spend - and each other’s too! Get back to basics; * give because you love, not because you owe *be creative in your gift-giving - hand made with love beats bargain basement leftovers any day! *set limits for Christmas and birthdays *a service counts as a gift too…try “happy birthday, I’ll mow your
lawn for two months”…..
SHOP SMARTER AT THE MARKET:
Plan your Menus, make a list, shop with the list, and stick to it. Set a limit and take only that amount of money when you shop - the prospect of being embarrassed at the checkout when you’ve overspent is enough to make you stick to your shopping list! Leave your credit cards at home.
STAY COOL AND TALK LESS.
Cut your energy and phone bills by becoming energy smart -learn how to get the best from your heating/cooling appliances; in winter, reach for the jumper before the heater…in summer, try a swim or cool shower first.
Use blinds/curtains to keep the house cool in summer, retain the heat in winter. Limit social phone calls to the cheaper evening zone….use the landline before the mobile if possible. These two bills between them cause more heart palpitations than some television shows!
DEPEND ON A FRIEND:
Getting together with friends, family, or neighbors to save money is a great approach to help with your budgets. For example, buying in bulk when it comes to household shopping makes sense when there’s a bunch of you to share the goods and the purchasing.
Carpooling for work, kids' activities, etc., can make sense to save fuel and car costs. Check the website for loads of great money-saving tips year-round.