Many people want to save money. Some want a retirement account, some want emergency reserves, and some just want to have a little tucked away for unexpected expenses (like new tires or maybe a vacation). Whatever the purpose, few know how just where to begin, especially if extra money is a new situation for them to be in. There are some easy tips and suggestions to get you well on your way to your savings goals or to just get you started in the right direction.

1.Save big items for sales – first of the year or seasonal.

2.Buy as a group – whether it’s food or movie tickets, you often get a discount when you buy in bulk.

3.If you don’t have to have it then don’t buy it. Even if you buy something you don’t need at a great sale price you still go home with something you don’t need. Just walk away.

4.Compare prices, don’t just buy on sale. Sometime things that seem like a good deal can be bought elsewhere at a better price.

5.Combine insurance policies under one company. Most companies will give substantial discounts for multiple policies.

6.Do without. Cut back your extravagants – have one phone line, don’t get the extended cable package, get rid of unnecessary services (laundry, car, answering, etc).

7.Buy generic. Many of the non-brand name products are just as tasty are durable as the more expensive alternative.

8.Take a twenty four hour cool down period before you make a new purchase. This will give you time to decide if it is something you can live without.

9.Don’t buy on credit. Interest rates will eat up a large portion of the payment. Instant gratification will often cost more in interest than the original purchase actually cost.

10.Plan ahead for what you need to buy. If it’s groceries, make a list and stick to the list. If it is gifts, make a list of who you need to buy for and a limit that you will spend. It also helps to write out some suggestions of what you might want to get.

11.Don’t rush the purchase. Take your time, look at your options, and talk over the in’s and out’s with a knowledgable associate. When you get into a hurry you often make costly mistakes.

12.Ask for a discount or for extras to be included with the purchase. It is possible to negotiate a lower price. Also check to see what their rebate policy is if the item goes on sale in a certain number of days after your purchase.

13.Buy with cash. If you use your debit card, you won’t be a conscious of the amount you are spending.

14.Save your change. At the end of the month you can roll it up and deposit the change in a savings account.

15.Shop around for your bank accounts. Today, like all businesses, banks are having to compete for customers. Look around for the best interest rates and accounts for your purposes.

16.Down size. Get a smaller home or smaller (more fuel efficient) car and you can save on payments, insurance, AND utilities or upkeep.

17.Be aware of hidden fees. Read the fine print of every thing you sign so that you know exactly what you are agreeing to buy and to do.

18.Pay yourself first, out of each paycheck. Make the 10% (or $10 or what ever amount you can afford to start with) payment to your savings one of the first things you pay.

19.Combine errands and other trips to cut back on the wear of the car and the use of gas. If you have to take the kids to soccer practice, stop at the store at the same time.

20.Get your movies from the library. Our public library had DVD’s and videos that can be checked out just like library books – for free.

21.Use coupons – but only if the product costs less than it’s competition. If possible, use the coupons on top of sales. It is possible to get items for free or nearly free.

22.Wait for double days. Many grocery stores now double coupons. Find out what days your local market has double or even triple days.

23.Look for deals at restaraunts. Most family friendly places will have nights when the kids eat free or for a discount. Take advantage of these nights.

24.Don’t eat out if you can cook at home – especially if you have a family.

25.Use what you have. Many people throw out all the money they save buying bulk because the let the food go bad.

26.Ride with a friend. Commuting can save you hundreds of dollars a year.

27.Pack your lunch. Not only will you save the $5 - $10 a day, but you will also have a better nutritional choice.

28.Eat breakfast. A good meal to start the day will keep you from splurging on expensive vending machine snacks.

29.Don’t shop hungry. Not only will hunger effect you grocery shopping, but it could make you irrational about any purchase (because you want to get it done and get something to eat).

30.Share with friends. Why buy something when your friend has one they don’t use. Pass on anything you don’t need to your friends as well.

31.Make it yourself. Save money on gifts and cards by making your own. You can bake some cookies or bread; knit a scarf; get some craft paper and stamps and make a card.

32.Look for free days. Many museums, zoos, or botanical gardens offer discount or free days.

33.Travel in the off season. Not only are the prices much lower, but the crowds are smaller as well.

34.Take the tour. Many resorts and condos offer free weekends if you are willing to sit through a one hour presentation.

35.Use a debit card or credit card with rewards or cash back (but be sure to pay it off each month. Use the rewards to purchase your holiday gifts.

There are hundreds of ways to save money every day. The best thing to do is to be aware of your spending, budget wisely, and cut every extra expense you can manage. A little saved here and a little saved there will end up being a lot in the long run.

There is only one sure fire way to get out of debt.  The income must exceed the outflow – or to put it plainly, you have to make more money than you spend.  This can be accomplished by either increasing the amount of income (by getting a new job or additional jobs) or by decreasing expenses.

For most people, the best place to start is cutting expenses.  It sounds easy, but there are some steps that need to be taken to get you on your way.

The first thing to do is to keep a record of what you are currently spending.  Carry a small (hand sized notebook) around with you for a full month.  Write down every thing you spend, no matter how big or how small.  At the end of the month, total up all that you have spent.

The next thing you need to do is divide you’re spending into categories.  Housing, utilities (electric, gas, water, garbage), telephone, groceries, entertainment, auto expenses, insurance, medical, and emergency are just a few if the categories that are normally used.

After you have totaled the amounts you are spending, and divided out how are spending, it is time for the painful part of the procedure.  The categories must be cut.

I usually start with excesses – it is important to spend each and every dollar in the best possible way.  If you are single, it might cost less to eat out (at small diners or restaurants) as apposed to trying to cook and shop for a single person.  As for families, it is almost always more cost effective to eat at home.

The best way to cut food costs is to plan ahead.  Make three menus (each one for one week) that include recipes and shopping lists.  Rotate the three menus to keep the family from getting too bored with meals.  It will also help to cut costs if you prepare lunches instead of buying at the office or school.

The next big spending items in today’s gadget driven market are the electronic toys and services.  Take a good, HARD look at the value of your internet service, cell phones, and television programming.  If you need these, then keep them.  You may be able to cut back on the packages and save that way.  If you don’t absolutely have to have the items then get rid of them.

There are some things I encourage people who want to get debt free to spend money on.  It is important to save money.  If you can’t do that now, then make it a goal.  Plan on setting aside part of your tax refund or holiday bonus to start a savings account.  If you save $10 at the grocery store, add that to your savings.  A little here and there will accumulate quicker than you might expect.  And don’t forget to set aside some money for entertainment.  Getting out of debt is a lot like dieting, if you cut everything out all at once then you are more likely to cheat.  Plan a little for entertainment, but limit the amounts you spend.
Setting a budget isn’t like writing in stone.  I recommend you look over the budget every few months – tweak the categories and your spending habits – until you are living in the freedom of a debtless life.