Some Tips On How To Save Money

December 22nd, 2009 | Author: Zigfred Diaz

Talking about how to save money may sound easy, what is most hard about it is when you start to do it.

I am not saying that I am an expert when it comes to money savings. But I do have some experience in doing it. The following are some money saving tips that I have applied and I believe can be applied to your life too.

1.) Be electric consumption conscious – With the rising cost of electricity this is probably one of the best money saving tips I could offer. Simply monitoring your electricity usage could save you a lot of money. This involves turning of appliances and lights that are not in use. Shifting to energy saving light bulbs will definitely help. We turn off our electric water dispenser and our refrigerator during the night time. Buying new home appliances makes a lot of difference in electric consumption. New home appliances are more energy efficient than old appliances. In the long run you save a lot on electricity. When we started becoming more electric consumption conscious at our house, our bill went down by almost 25 %.

2.) Save loose change – My mom has taught me a lot of money saving tips, but this is one that really stuck in my mind. Loose change may seem insignificant. I started collecting my loose change and after more than a year when my piggy bank was full, I saved more than P 10,000.00. ($200.00 U.S plus)

3.) Recycle – I have just started to implement this program. Instead of throwing away plastic, glass bottles and containers I started collecting them. Currently I have 4 sacks of recyclable materials that I am planning to sell at the end of the year.

4.) Not buying from the convenience store – Filipinos have commercialized “convenience stores” but there are also neighborhood convenience stores which we call as “Sari-sari” stores. This is where most Filipinos go to when they run out of shampoo or cooking oil. If you badly need the stuff and you do this once in a while, that may be all right. However buying your everyday needs in the sari-sari store might prove to be more expensive. Sari-sari store are definitely more expensive than the grocery stores because they buy their stuff from the grocery stores.

5.) Eating out less – Most financial experts would say that this is one of the best among all the other money saving tips. Bringing lunch from home definitely helps cut down the expenses. Frequently eating in restaurants is sure to empty your pockets. If you are in the habit of consistently satisfying your gastronomic cravings by trying out new restaurants try to schedule your restaurant visits.

Do you like to know moremoney saving tips ? Visit the blog of Zigfred Diaz where he blogs about several interesting topics such as investments, money management, business, making money online and Stock market investing