Thursday, July 17, 2008

Saving Money - You can too

There are many different areas in life that you can learn to save money. Check out some suggestions:

1. Credit Card Savings - If you have a hard time managing your credit card, then these pointers can help you.

Get organized - First thing's first, obtain your credit card records to have a better idea of your spendings. Be sure to double check the records for errors and ensure its accuracy. A good example would be to find out if you have outstanding debts that should not be there as well as the accuracy of the listing of your former and present address.

Evaluate your credit card - Go over your recent credit card records and look at the interest rates. Some credit card companies have promos wherein they offer lower interest rates for a period of time and this promo may already be over yet you have no idea and are already paying at a higher interest rate. Also take note of the membership fee which they charge annually since some have very high membership fees. Consider canceling this if you are not using the benefits of membership.

Pay on time - It is important to pay your bills on time since it can have a negative effect on your credit record or rating. You will also be able to avoid getting late payment fees.

2. Gas Saving Tips - The price of gasoline is outragous. This is truly a great concern for almost everyone these days. So how can you save some money on gas? Read these tips.

The carpool system - This is a great idea for employees and students alike. Since all of you will have the same destination, there is no need to bring extra vehicles if you can all fit in one car or van. If you are with your co-workers, it is a good idea to bring your cars alternately or on rotation. If you have children that you bring to school or social events, exchange driving responsibilities with your friends.

Commute to work - You can always take the public transportation system when going to the office. This is also a good way to relax since you are not driving.

Look at the prices of different gas stations - Take time to drive around and check the pump prices of the gas stations near your neighborhood.

Sweat a little - A good way to save money on gas and keep yourself healthy at the same time is by walking or riding a bike to your destination.

Keep your car in very good condition - It is necessary to keep your car's engine in good running condition so that it will not consume a lot of fuel.

Check your car's tire pressure
- Keep it a habit to check your car's tires so each one has the right amount of pressure. Having unequal pressure can greatly affect the car's fuel economy.

3. Save Money on Groceries - We mainly buy necessities in groceries. It would be of help if you list down goods you have to buy together with their prices (if possible) so as to ensure yourself that the budget allotted for food is exact or there is a shortage. If so, you could trim down your list or think of a better replacement. To furthermore avoid shopping shortages, here are some tips.

Plan your weekly meals ahead of time - This would avoid you overspending on goods invaluable or missing some ingredients that are needed. This would not just clear your worries but it would also save your time.

Don’t buy branded goods - instead choose a product that has the same quality of those expensive goods. You’ll get the same benefit without spending more.

Dual purpose goods - A good example of which is mayonnaise. You can use it as a sandwich spread or make macaroni salad instead. In a way, you could enjoy eating both without spending too much.

Buy less expensive cuts of meat
- List recipes that the cuts won’t matter. At least, you won’t be sacrificing the taste of the food and at the same time you’ll have the chance to buy a larger quantity.

Pay in cash - You wont be tempted to buy unnecessary goods.

Shop only once or twice a month
- In that way, less time will be spent on going to a grocery store and at the same time, chances of overspending will be minimized.


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