50 Effective Ways to Save Money.1

8/2/2019 50 Effective Ways to Save Money.1

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Provided by: www.readtoawake.com Pag. 3

If you are reading this little book it means that you are really serious aboutyour financial life and you want to achieve financial Freedom..

A part of all you earn is your to keep and if you cannot save money,

the seeds of greatness are not in you W. Clement Stone.

In this book, I am going to reveal 50 effective ways that willunquestionably help you to save more money. So lets start

1. The first rule is make a Budget. You shouldknow exactly how much you want to spend eachmonth for rent, car, education, entertainment andhousehold expenses. If you earn $2000 per monthand you decide to spend $500 on your householdexpenses then dont spend more than $500 onhousehold expenses.

2.Before going for shopping, make a list of the things that you want tobuy and stick with that list. Usually when people go to thesupermarket, they end up buying two or three more things than theyactually need. Because in the supermarket there are so many productsthat attracts you and you feel pressured to spend your hard earnedmoney on buying the stuff that you actually dont need.

3. Track your expenses. Write down every expense that you makeeveryday for a couple of months. Whenever you buy something, write

it down on a small notebook. You should write down how much youspent and what you bought with the proper date. Then after a couplemonths check this notebook to find out where your money is going.This technique is very effective to reduce unnecessary expenses. Ifyou follow this single rule, you will be amazed with the reduction inyour expenses.


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4. Open an saving account in the bank that pays you 1% more intereston the current money in your account. Lets say you have $5000 inyour account and your bank pays you 1% interest that equals to $50.

If you shift your account to another bank that pays you 2% interestyou will receive $100 on your savings amount of $5000. Note: youshould also check bank fees and other expenses.

5. Always pay with the cash. Never paywith credit cards or debit cards. Whenyou get your pay check. Withdraw themoney from your bank that you needfor the expenses of that month. If you

spend all your money before the monthends, dont pay with debit card insteadgo to the bank to withdraw moremoney. Next month you would surely

prefer to spend less money instead of going to bank second time.

6. Cancel the membership of gym if you dont go there regularly.Instead you can go for jogging in the morning and do some health

exercises at home. It will also save your time of going and returningfrom the gym.

7.Drink more waterinstead of wasting your money buying cold drinksthat spoil your health. You will feel fresher and more active afterdrinking water rather than cold drinks.

8. Turn off the television. It will save you money and time. It willreduce your electricity bill. You can do some creative work in thattime. My advice is that you should readsome of the best financial books in thattime to improve your financial life. Bywatching less TV, you will watch lessadvertisements and you will not getinfluenced by those advertisements andyou will buy less things when you willgo to shopping.


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9. Organize a party at home on anniversaries instead of going in theexpensive restaurants with friends. Prepare some good meals for yourfriends and you can enjoy more openly in your home rather thangoing out.

10.Give up expensive habits like cigarettes and alcohols. Dont spendyour hard earned money on the things that ruin your health. If yourhealth is not good you will not be able to earn money so take care ofyour health and stay away from cigarettes, alcohols and drugs.

11.Sell the stuff you dont needanymore online on the

www.ebay.com For example books,Cds, DVDs, electronic items andfurniture that you dont useanymore, you can sell them and getsome money. At first, try to sellsmall items on EBay and slowly as

you learn, you can also create abusiness on EBay of buying andselling other peoples stuff. There are many people who are doing itsuccessfully. You should try.

12.Technology is changing very rapidly. New products are coming outeveryday. We feel compelled to buy new mobile phones, newcomputers and other electronic products every year. I am not sayingthat you should not buy these expensive items. Buy if they are

necessary but before making a purchase wait at least 15 days andcompare the price with other similar products and in the other shops.

13.Borrow a cooking book from library and prepare a good dinner onthe weekends instead of going in restaurants and paying huge bills.


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14.Air up your tires. By just airing up your tires every month, you canimprove your gas mileage at least 5%. It is easy, too. Just read yourcars manual to see what is the recommended air pressure for tires ,

then go to the gas station and air them up.

15.Whenever you want to give gifts to yourfriends or relatives, try to create gifts at your

home in your spare time instead of buyingthem from market. When you will make thesegifts by your hands, it will increase their value.Your friend and relative will appreciate thesegifts more.

16.Buy the Gifts of Christmas in the January when they are on saleand sellers desperately want to sell those products instead of placingthem in the store for the next Christmas. You can use this techniquewith other holyday gifts as well.

17.Life insurance is not an investment. So cancel your traditional lifeinsurance policy. I know that life Insurance isvery important in case something happens toyou, your family will get money frominsurance company. But I recommend thatyou should buy the term-insurance plan. Itcosts you much less than traditional lifeinsurance policy and your family will receivethe same amount. The difference of costs,you should invest in some good index basedmutual funds.

18.If you eat your lunch out in the working days. Then try this method,bring your lunch from home at least for two days per week.

19.Keep your hands clean before cooking and eating the food. It willreduce your medical bills, as the virus will not enter into your bodyand you will not get sick.


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20.Install the LED bulbs in your home. These aremore expensive than normal bulbs but consume lesselectricity. In the long term you will save moneywith these Led Bulbs.

21.Buy the generic store brand items when going for shopping insteadof buying the expensive branded items that you watch on thetelevision. Mostly the only difference in both products is the

marketing. If you buy generic brand products, you will find yourgrocery bill smaller.

22.When going on vacations dont go to places that are too far fromyour hometown. You should find a good place near your home townwhere you can spend some good quality time with your family andyou can return relaxed. But if you go too far from your home town,you will spend most of your time and money just in travel. You will

be more tired when you will return home after a long trip.

23.If your car dealer tells you that you need tochange the oil of your car after 4000 kms,wait for another 1000 kms and change the oilafter 5000 kms. Thus you can save somemoney.

24.Dont use your carwhen going to the placeswhere you can go with the public transport. Thus you will helpreducing the pollution of your city and you will also reduce your gasexpenses. The most important thing about using public transport isthat you dont have to worry about car parking.


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25.Whenever you have time and you want togain some wisdom go to Library. Library islike a gym for the mind. You can borrowsome really good books for free. You canalso borrow cds and DVDs. If you areinterested, you can also read newspaper andmagazines for free.

26.Pay your electricity bills and internet bills online. You may getdiscount by paying bills online as you are not wasting stamps, papers

and the time of the employees who usually do this job. You will alsosave time by paying bills online instead of going there to pay them.

27.Install a programmable thermostat. Put the temperature 2 belowyour desired temperature. These devices regulate the temperature ofyour home automatically according to the schedule, you set. Thus,when youare not at home, it allows the heating or cooling to turn offfor several hours, saving you money on your energy bill. A

programmable thermostat can easily cut your energy bill by 10 to20% and it is surprisingly easy to install.

28.If you buy a lot of clothes and spend alot of money buying new clothes everymonth then try this method, wash allyour old clothes, press them carefullyand wear them for at least two moretime. Try to mix and remix your clothes

this time. If you were used to wear bluejeans with white shirt then this time wearthe same jeans but with a different shirt.

29.Whenever you pay for something always ask for discount. You willbe amazed with the results. For examples, when you go to pay for carinsurance or car repairs, ask for discount!


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30.Dont go to shopping for entertainmentotherwise you will surely spend money on

the stuff you really dont need. Instead whenyou feel stress, try to do yoga or meditation.You can also go for a walk with your family.

31.Shift into a Smaller apartment that has garden but where you willhave to pay less rent. Gardening is a great hobby that help you toattach with the nature. You should plant some beautiful flowers andvegetables in your garden. It will help you to reduce your householdexpenses and improve your health as you will eat fresh vegetables.

32.Buy a bigger freezer. At first it seems an expensive tip but let memake it clear that you can save big money by buying food productsand meat when they are on sale and by preserving them in the biggerfreezer.

33.Check carefully your cell phone bill.There may be some services that you arepaying for but you dont use them. Callyour cell card company and ask them todeactivate the services that you dont usefor example, sms, mms offers or web accessoffers.

34.If something is broken or doesnt function properly, Try to fix ityourself instead of calling technician or replacing them with a new

one.

35.When you go for shopping to buy the grocery, dont collect thepoints that they offer you. For example, when you make a purchaseof $5 you get 1 point and after 100 or 150 point, you get some

products for free. It is a trap. If you start collecting those points, youwill end up with a bigger grocery bill for sure. So just avoid thecollection of points.


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36.Cancel the subscription of magazines. Do you have a lot of unreadmagazines in your home? If the answer is yes then call the magazinessubscription department and cancel the subscriptions immediately.

37.Buy the items in bulk at least for next 3 months that you useregularly and when they are on 20% discount. For example the

products like coffee, detergents, shampoo and toothpastes.

38.Try to find a cheaper supermarkettobuy grocery. Most probably, you go inthe same supermarket every week. You

buy the products from that marketwithout even knowing that in adifferent supermarket, you may buythe same products at a lower price. Myadvice is that you should search for acheaper market near your home. Aftervisiting different supermarkets, find

the right one that offer you goodproducts at lower prices. Then buyyour grocery from that same market regularly.

39.Sometime you should pay more and buy the branded products. Forexample if you have choice to

buy a branded mixer grinderthat costs $100 and hasguarantee of 5 years and one

similar product of a genericbrand that costs $60 but hasguarantee of only 2 years. Inthis case, you should buy

branded product that costs you$ 20 per year.


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40.Clean the air filter of your car regularly. A clean air filter canimprove gas mileage of your car at least 5%, saving you more than$100 per year. It is an easy job to do in few minutes.

41.Dont spend money each month buying expensive toys. Buy somegood educational and less expensive toys on special occasions. Thething that they need most is your time not expensive toys. Give themyour time, play with them and help them in finishing their homework.

42.If you have your breakfastin barwhile going to your work then hereis a nice advice.. wake up a littleearly at least for two days and

prepare your breakfast at home.Slowly it will become your habit.You will start enjoying having

breakfast at home rather thanspending 3-4 dollars in the barevery morning.

43.Many people throw the foods that is left after eating. You should tryto preserve that food in freezer. Next time when you return from workand feel hungry, you can eat that food. There is nothing wrong withthat.

44.Pack some foods before you go on vacations. Prepare some goodhealthy food and take that with you when going for vacations so that

you can have that food at least for lunch instead of eating expensiveand junky food on auto grill.

45.When buying a car, if the price is same, choose the car thatconsumes less fuel. Lets say you want to drive the car for 15000 km

per year, if you choose a car with 25km/l over a car with 20 km/l, youwill save at least $200 per year.


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46.If you have taken two loans, For example one loan for car at the rateof 10% and other for computer that you paid with your credit card at

the rate of 15 %. You must pay first pay your credit card loan andthen your car loan.

47.If you have a credit card debt and pay 18% in interest. You shouldask for a bank loan from various banks at lower interest rate (6%).With this bank loan, you should pay your credit card debt.

48.Dont buy fast food. It will spoil the health ofyour family and increase your medical expenses.Try to cook something different each week foryou and for your family.

49.Buy the used car, instead of buying a brand new car. Because thenew model will sooner become old as every year a new car modelcomes out. If you buy a car that is 2 or 3 years old, you can savemoney and invest the difference. You should understand that car is a

liability that depreciate in value every year.

50.Keep it on. Do not read this e-Book justonce but keep reading it at least once permonth until these methods become yourhabits. Think for the Long-Term benefitsof these money saving methods.

If you follow some of the above written methods, you can save a lot ofmoney in your life. At first many of these methods may seem hard to

perform but let me assure you one thing that most self made rich peoplehave become rich by using these simple rules.

Slowly these things will become your habits and you will have no need to

make an effort to save money. Good luck for Your financial independence.

50 Effective Ways to Save Money.1

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