How to Save Money Every Month - Practical Ways

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Information about How to Save Money Every Month - Practical Ways
Finance

Published on May 2, 2013

Author: Nigelsth

Source: slideshare.net

Description

In this presentation, I will show you some areas in your life where you can save money every month.

Introduction• The approach to material achievement –has been that of prudence, constraint anddiscernment, not by having 10 creditcards

Where can you start to Save Money?• Start by trimming your utilities• Electricity• Water• Gas• Telephone• Pay bills on time

Delayed Gratification• We are not contented to have just atelephone or a TV

Eat well - save well• Food is a major expenditure• Reduce trips to the grocery store• Buy generic• Take lunch to work

Shopping• Shop with a list• Watch out for expiration dates• Reap some rewards• MAGNA, BARP• AARP

The Power of Choice• If you can - buy in bulk. Everyday items -toothpaste, toilet tissues or large sizes• Stock up when they’re on sale

Spend Wisely• When you have an impulse to make apurchase, ask yourself:• Why do I want or think I need thisitem? Can I do without it?

Spend Wisely• STOP IMPULSE BUYING, and BUYINGON CREDIT.• Save for what you want

Spend Wisely• When you have a list of things youreally do need, shop around and find thebest deal• Compare quality and price, then make awise decision

Going On Holiday?• Go on the internet - the best rates are offeredmidweek, book last minute and save money –• www.kayak.com; www.hotwire.com;www.cheapfares.com• The same with cruises, go online a week ortwo before you travel and get the BEST deal

Accommodation• Contact the House Sitting websites andget free accommodation• Stay at retreat centres, University Dorms• Check Cheap Hotel deals online

Cash vs Cards• You spend less when using cash• Plastic surgery may be necessary onyour credit cards• Be aware of the ATM withdrawal fees

Reduce Spending• Don’t run up bills you can’t pay in full atthe end of the month• Pay credit card bills on time to avoid latefees – the interest is in excess of 20%

Negotiate• Learn to negotiate everything• Have the nerve to ask for discounts• Understand and use “walk away power”

Look For Bargains• Auctions are great places to get goodbuys• Garage sales, flea markets, classifiedads• Learn from your mistakes

SAVE MONEY ON TRANSPORT• Avoid buying a new car• See if you can make do with a pre-ownedvehicle• Recent used models can be a real value• Nearly new car for a fraction of the new carprice

Summary• Make the necessary adjustments toyour life-style• Set up a budget. Be disciplined• Prudence, constraint and discernment

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