Friday, 7 October 2011

15 Money Saving Tips which can follow easily

If you look around you can see so many money saving tips. You may think that you should avoid some necessary expenses from your life to save money. But if you are a little bit cautious you can find many small things which make big holes in your pocket. The important thing is to find it out and avoid such things or reduce the use of such things.

Lead a healthy lifestyle. One of the important unavoidable expenditure in your life is cost of medical treatment. But you can reduce such cost by leading a healthy life style and healthy eating habit. You may think that a good health insurance may solve the problem of medical treatment expenses. But do you know that the a healthy life style will reduce the cost of medical insurance and life insurance up to a certain level.

Be a good driver. If you are an expert cautious driver, you can reduce the cost of your travel and conveyance expenses including your vehicle related expenses such as cost of auto insurance, cost of repair and maintenance of your vehicle, fuel cost of your vehicle etc., and you can save a good portion of your income by having a good and healthy driving habit.

Be prompt in your bill payments. If you pay your utility bills and credit card bills in time, you can avoid penalties and interest. By this way you can save a few bucks in a year.

Good cooking habit. A good cooking habit not only reduces your gas bill but also reduce the cost of eating out. You can reduce the frequency of eating out and can save a good portion of money.

Reduce your electricity bill. Use CFL lamps and use the electrical equipments carefully and follow manufactures directions, switch off all electrical items soon after use etc., will reduce your electricity bill.

Reduce investment cost. When you go for investment try to invest good investment schemes with good income and low cost. If you are vigilant you can reduce the investment cost of Mutual funds, stocks etc.

Choose service providers wisely. You may have internet connection; Telephone connection and Cable T.V network connection. But some service providers will give all these services together with a good discount. Go for such connection and avail monetary discount and the privilege of paying a single bill for all services.

Switch over to prepaid mobile connection. This may reduce your telephone bill a little bit less and when you choose prepaid connection you can change the service provider easily. So if convenient go for prepaid mobile connection and can avail various discount offers.

Purchase things online. Online shopping gives you more discounts and voucher coupons and when you purchase online the manufactures or wholesalers should no pay huge commission to retailers and you also will get a part of the benefit. Search online and purchase things or purchase form a particular online shop such as eBay, etc. and avail more regular customer benefits.

Avail cash backs and reward points. Purchase things with credit cards and avail cash back offers and redeem reward points for your regular purchase. Some partnership credit cards offers redemption facility of reward points with regular purchasing items such as petrol, clothes etc.

Purchase on happy hours. Some retailers and restaurants offer a good discount on happy hours where there is no much rush in their shop. If your time is suitable, try to purchase on such happy hours and avail the discount offers.

Purchase more quantities and avail discounts. Some shop keepers offer heavy discount for bulk purchase. Avail these discounts, if you need such items.

Avoid unnecessary loans. Go for a loan only if you cannot afford without the loan. For a loan you have to pay processing charges, interest etc. and this must be paid from your hard earned money. So try to avoid loan if you can.

Pay off your loans. You should pay off all your loans as soon as possible and try to pay off the loan with high interest first and then with low interest.

Insure you assets. No doubt you can compensate your monetary loss from theft, fire, natural calamities etc., by insuring your assets.

If you follow the above mentioned easy to follow money saving tips, no doubt you can save a good portion of your regular income and can improve your financial status, which is helpful to fulfill your financial goals. See money saving tips video

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