How you can save money by controlling certain unnecessary spending

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By: tiarajoseph11
on 5th Oct,2012

Here are few other things on which you can save money and improve your financial situation.
How you can save money by controlling certain unnecessary spending


 

You may plan a budget and try to live within your means but do not pay heed to certain things which can help you save quite a significant amount every year. Have you thought how much you spend on buying sodas or on alcohol every year? It is true that you need to buy alcohol or feel like having sodas occasionally; but, it'll be a wise decision to not make it a habit. Here are few other things on which you can save money and improve your financial situation.

 

  • Drive carefully to avoid speeding tickets - Many of you spend quite a few dollars on parking tickets, which you can easily save by driving carefully within the required speed limit. Apart from that, a little knowledge and alertness can also help you avoid paying parking tickets. Moreover, you can reduce the cost of your policy premium, upon your policy renewal, by having a clean driving record.
  • Save energy to stop wasting dollars - Do you know replacing your light bulbs with energy bulbs and fixtures can help you save significant amount every year? Similarly, change your air filters after every 3-4 months and use cold water to wash clothes as much as possible. Also, buy right sized utensils or use the small burners to cook food in order to save energy, and in turn, your money.  
  • Quit smoking and live healthy - Have you thought how much dollars you spend for buying cigarettes, every year? Moreover, an insurer may deny your health insurance plan if you're a smoker or charge relatively higher premium. So, choose the healthy alternative to keep deadly diseases away along with saving a considerable amount every year.
  • Do not revolve credit card balances - Try to use your credit card to swipe an amount which you can repay within that billing cycle. It will help you avoid paying extra towards the interest. However, sometimes, you may have to make a big ticket purchase with your credit card; however, try to repay the amount as soon as possible and don't make the mistake of paying only the minimum on the card. And, don't make it a habit to overspend by swiping your cards since you don't have to pay instantly. It is always better to save the money and then make the purchase you wish to.
  • Stop wasting food - You drain out money when you waste food. So, even if you're buying discount items or purchasing in bulk to reduce the buying cost, always check the expiry dates on the items and calculate whether or not you'd be able to consume the food within the due date. Do not simply buy a food item, you don't know whether or not you'd consume, just because it's being offered at a lower price.

If you have the habit of buying lottery tickets or playing at casinos and wasting your hard earned money, then why don't you save that amount every year, and invest it for better return in the future. You don't know whether or not your luck will favor you to earn money through lottery tickets; but, investing that amount will definitely yield return and help you manage your finances in a much better way.  

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