Apr 172009
 

How many people think that they had earned enough money for their retirement fund? With the bad economic downturn situation, I guess most people will discover that their money are not enough to cover household expenses. Due to the price of everything has gone up dramatically, people now are more conscientious about money. Therefore, you are encouraged to save your hard earn money into the retirement fund or saving account because each penny saved is one more penny than before. It’s always not too late to start saving, regardless of your age. Here I’ll be sharing some simple money saving tips to get you on the right path of pursuing for life happiness.

  1. Plan and Budget – Plan first before spending your money is the best way to save. Earning money is not hard for most of the people but keeping money is a major problem for them. These people have no idea where their money is spending and they usually surprised after seeing a big sum on their monthly bills. If you are not good in managing money, do consult with financial advisor to help you evaluate your budget.
  2. Beware of Credit Card Interest - Please do not overuse credit cards even though it is convenient, only use it when really need to because you will addict to it after paying only the minimum payment each month. It will take you longer time to pay off the balance because most of your payment is going toward the interest and not the principal amount.
  3. Do It Yourself (DIY) – Most people are too lazy to do the thing by themselves, they prefer to pay a certain amount to hire or rent services from other companies/people. For example, trim the grass at your backyard. I think you can save a few dollars if you trim the grass by yourself. Learn to DIY is a good way to learn extra skills and gain more experiences which will be beneficial to yourself.
  4. Use Free Software – Some free software are as good as paid software in terms of functionality and reliability. You can always find for the alternative open source software such as Linux, open office and etc. They could save you a lot of money and still yielding good result for you.
  5. Sell Your Unused Stuff on Ebay – If you have any unused stuff no matter it is small or large, you can actually turn it into money. You can put them on eBay.com and earned money from these sales.
  6. Recycle & Reuse – You can save substantial money by recycling or reuse the mineral water bottles, aluminum tin, old newspaper and so on which you could found in your house. No only you can save the money but actually you also help to reduce the rubbish and save our earth indirectly.
  7. Online Shopping – Learn to become a smart consumer by shopping online. Usually you will get great offers and even free shipping service due to competitive online market. For example, giant bookstore like Amazon.com offers special book selling discount up to 70% off the original price. From here, you will save the money on transportation and still get the same quality stuff.
  8. Get Freebies – Always check out freebie sites such as thefreesite.com to find various types of sample items before buying. Most of the items are free shipping and what you need to do is just filling a few forms, then you will receive sample items for free trial.
  9. Investment on Mutual Fund – Mutual fund is a long term financial tools which can give you a good return in 3 to 5 years time. Prior to this, you need to plan well and consult with mutual fund agents before investing.
  10. Don’t Give Up – This is a difficult task and takes time to learn but worth it. First of all, you must be patience with strong determination and don’t simply give up to save money. You will feel better about yourself by enjoying a better life without debt.

  10 Responses to “10 Money Saving Tips That You Should Know”

  1. Some relevant tips to save money. Indeed, we tend to overlook the little habits in life, that just might make a huge difference if we apply them accordingly. Thanks for sharing! ^^

    Ching Yas last blog post..How To Personalize Your Twitter Background with Free Twitter Designer

  2. @Ching Ya: There are a lot of ways to save money and if everyone can apply some of them, he/she will become millionaire in the future.

  3. Great tips. Now that we are suffering from economic crisis, it’s just right to start saving money, plan and budget.

    Svenson take an interest in the worlds last blog post..25 ways you can beat the economy with these savings tips

  4. @Svenson: Great to have you here. You are right, it’s never too late to start saving money now. By the way, your post (25 ways you can beat the economy with these savings tips) is great and I learn a lot from there.

    @DugInto: Thanks for putting this post on your related blogs. I really appreciate it. :)

  5. I love to use free software. There are lot of good free software out there. Some are better than the retail version. :D

    spBloggers last blog post..AdsBlackList.com revisited ~ better than before?

  6. @SpBlogger: I love free software too. Almost half of my software tools that I used daily in my PC were installed with free software and most of them are outperform than paid software. :)

  7. Hey
    thanks for this interesting list for saving money in this crazy time . Its much needed man . Thanks also for some link such as freebisite ..
    Regards
    Sudeep

    Sudeeps last blog post..Treating Swine Flu with help of Ayruveda .

  8. @Sudeep: Great to hear that it helps you to save money in this economic downturn period. All the tips are not hard to apply but it needs some perseverance to success in reducing our expenses.

  9. Selling you used things on ebay is a great advice. Under the years we buy a lot of things and then store it somewhere for several years before we throw it away. By selling our unused things you get money, get more space and also helps saving the environment since people don’t have to create new things.

    Stefans last blog post..Read a Book a Week

  10. @Stefan: It’s great to have you here. Ebay is a good selling platform for normal people like us to do some business without spending much money. Who knows you can become the power seller in eBay in the future by just selling unused things.

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