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Habits to Help You Save Money

Let’s face it. For many of us, money’s tight, so it makes sense to look at how to save money. In this world of almost instant gratification via online shopping, it’s easy to lose control of your finances and land up in debt. Even if the debt isn’t your main problem, most of us need […]

Let’s face it. For many of us, money’s tight, so it makes sense to look at how to save money. In this world of almost instant gratification via online shopping, it’s easy to lose control of your finances and land up in debt.

Even if the debt isn’t your main problem, most of us need to exercise a little ‘belt-tightening.’ The good news is that there are lots of ways you can cut down on expenditure and save, perhaps towards your own home or a little holiday. Whatever the reason, we show you a few ways to save those hard-earned pennies.

1. Plan your meals for the week

It is said that a whopping third of all the planet’s food is wasted. It’s a horrifying shame when so many people are starving. It’s also a terrible waste of money. Dining out is also a big expense, so planning to eat in will save you money and, probably, calories.

Spend a few hours over the weekend planning what meals you will make over the next week, and then grocery shop accordingly. You’re less likely to make impulse purchases if you have a strict list. You could also portion out lunches over the weekend, so you don’t have to buy expensive take out.

2. Make coffee at home

So many of us love our coffee at cafés, but those dollars mount up. Adding up how much you spend on coffee and a little something to eat every month can be a scary exercise. If you’re serious about saving money, make the coffee at home

Even treating yourself to special coffees will be cheaper than buying ready-made coffee. It won’t take you long to get into this good habit, and it’ll save a lot.

3. Cancel your cable

This might be quite a radical move, but canceling cable TV can save you a whole lot. Now that there’s Netflix, Amazon Prime and other services, cable TV is an unnecessary expense, and it’s getting more expensive.

An even more radical money-saving action you can take is canceling TV altogether. You can then save the money you would have been spending for another financial goal like paying off your debts or saving for a down payment on a home.

4. Trial before buying

Sites like Trialopedia.com offer a whole host of free trial offers. They aim to give consumers like you and me, as well as small businesses, the chance to test and compare products and vendors without risk. This allows you to make a sensible choice and avoid expensive buying mistakes.

5. Prioritize paying off debts

To get yourself into tip-top financial condition, the most important thing to do is to pay off your debts. List all your debts and their interest rates, paying off the most “expensive” debts first. Consider consolidating your debts to give you just one payment to make every month.

Whenever you get extra money like a bonus or a tax refund, pay it towards your debt. It’ll reduce your debt much more quickly than if you don’t do this. Budget these windfalls for debt payments so you aren’t tempted to spend unwisely.

6. Cut your utility bills

Those of us lucky enough to have electricity and running water are often guilty of taking them for granted. It’s easy to walk out of a room without switching off the light. This drives up your utilities bill. Get into the habit of turning off the lights and appliances when not in use.

This is not only good for your pocket but good for the environment. We all have to be more responsible about saving energy these days. 

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