Simple Tips for Saving Money

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By: KenM
on 7th Nov,2013

People who are looking to be save money can do so in many different ways.
Simple Tips for Saving Money

People who are looking to be save money can do so in many different ways. Saving money is becoming even more important as prices seem to keep going up and up. Review a list of tips that can help any members of a household save money each month.

1. Wait and See List

Items of interest do not need to be purchased immediately. Create a list on paper or in an app on a smartphone, such as Evernote. Add items to this list when they are discovered. They can be referred to later to see if they are still worthwhile or a fad that has passed.

2. Question Purchases

Every item that looks tempting when grocery shopping or viewing online needs to be questioned to be sure it is a worthwhile purchase. Buying items that sound good, but are not being used is not the way to save money. Add a questionable item to the wait and see list to consider for purchase at a later time.

3. Remove One Item

The number of items in a shopping cart when grocery shopping is not as important as the total price. If saving money is important, then remove one item that is a maybe. Maybe items are those that are not a must-have. Removing one item is a great way to ensure less money is being spent.

4. Check Out Comparable Items

The latest and coolest item may look desirable, but a comparable item may be available. Tablets are the newest trend right now. However, the latest Android tablet may not be the best purchase. There are also typically lesser known models that are available at a fraction of the price.

5. Buy Refurbished

Products do not necessarily need to be purchased new. Look online for refurbished products as they are often like new, but not sold at full price. Many items sold as refurbished may be used, returned, and may have had the box opened. Items cannot be sold as new once the box is opened.

6. Use Coupon Codes

Many online merchants have an option to input a coupon code. There are many sites online that have a huge variety of coupon codes that are available. Type the name of a product followed by coupon codes in Google to see if any are displayed.

7. Fix Before Replace

Many times an item around the house becomes broken, but will still function. Having something that is not broken is typically preferred, but not always necessary. Fixing an item so it works is cheaper than buying something new. 

8. Create a Price Book

Grocery items and other purchases that are made regularly need to have prices recorded. This is a great way to see if there is a lower price available or if merchants have increased prices. If prices for items are higher, then begin to comparison shop. The best way to do this is with a smartphone app, such as Redlaser.

9. Never Pay Retail

Paying the full price for an item is like flushing money down the toilet. Search for a coupons, deal, and other ways to lower the price for an item. One option is to use a credit card that offers rewards or has a cash back option.

Saving money can easily be done by taking the correct steps to achieve set goals.


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