Money Saving Tips

Saving money seems to just be hard to do for most folks. Here are just a few ways that might help you start and keep a savings going.

1. Limit access to your funds

Open a high interest yielding online savings account, one that is linked to your account but not part of the same bank. Why? When your bank account holds your checking and savings it’s very easy to transfer money from one account to the other. Sometimes too easy. If we impulse buy and think “Oh, I’ll just transfer the money from the savings over”. Stop right there. We’ve just taken a step in the wrong direction. Easy access doesn’t help you save. So, if your savings account requires a few days to transfer over to and back and may even keep a hold on the funds for a few days you will be less likely to impulse shop thus eliminating your need to transfer funds out of your savings.

2. Make the most of your coupon clipping

Coupon clipping is great and it helps you save on the products you normally buy. Want to make those coupon savings really count? Try this: total your coupons used on your trips to the grocery store and put that amount into a savings account or piggy bank instead of just leaving it in your checking account to spend later. If you need to, make a check out to yourself for that amount and deducted it from your checkbook and slip into the piggy bank. (Since I know some banks charge fees for too many transfers in a month.)

3. Keep the change

My bank has a program set up that allows them to round up to the nearest dollar on every debit card charge I make. Then at the end of the day all that spare change gets transferred into the saving account. So you are making a daily deposit into a savings without even noticing the difference in your checking account. If your bank doesn’t offer you this type of program, set one up yourself. Round up all of your receipts to the nearest dollar for the day and put that money into a savings account or piggy bank (which ever works better for you). Even $1.50 a day adds up. In a year’s time you will have saved $547.50 just from spare change. If your bank doesn’t have a program like this, just take all the change you see lying around the house and put it in a piggy bank. No only will it add up but my kids love putting money in the piggy banks and it teaches them the importance of saving at an early age.

4. Free Rewards Programs

Sign up for free Rewards Programs at local stores that you frequently shop like Best Buy, Office Depot, Staples and any hotels that you may use for vacationing. My wallet is full of these types of cards, better those than credit cards :)

5. Freecycle.org – My friend told me about this one.

With this site, you sign up with the freecycle group in your area and watch for goodies. The goal of this site is to try and keep things out of the landfills and put them to use. People use this site to post items that they no longer have a use for and don’t want to make any money off of. When you see something you want, you send an email to the person that posted the item and the poster chooses who they would like to give the item to and places the item on their front porch for you to pick up. “I have found it quite useful for getting rid of the clutter around my house as well as get furniture and clothing for my child. Check it out as it’s pretty cool! ”

6. Comparison Shopping

Doing this online really saves you money, not just in finding out what the best prices are and where but it saves you time and gas since you don’t have to drive around looking for the best prices and with gas prices the way they are lately, who can afford that?

7. After Holiday Shopping Sales/Clearance Sales

This is a pretty obvious one, although if you are like me, I hate crowds you will loose out on some really good deals, but remember a good deal is only a good deal if it was something really needed or intended to buy. Not just shopping for the sake of a sale.

8. Bargain Boards

Oh there are lots of these on the web. Just doing a google search for bargain shopping will bring up hundreds of sites for you. Warning: it’s addictive!

9. Second Hand Clothing

Consignment shops can save you money and make you money.

10. Join Advisory Panels

Some sites like these offer coupons, sweepstakes and free samples as incentive for joining their advisory panels. Make your opinions hear and get something in return. A win win situation if you ask me.

Apple and Eve

Ben and Jerry’s

Brillo

Wal-Mart Advisory Panel

M&M’s Ambassador Program

These are just a few ideas to get you started. If you have a money saving tip that works for you share it with me. I’d love to hear it. I’m always looking for ways to save money. Happy Savings!

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