With the economy the way it has been, now more than ever, make sure your money is not going down the drain. We are all trying to “cut back” and the need to impress others is a thing of the past…..now you just look like a show-off. We should try to manage our money so our money doesn’t manage us. I thought you might like some ideas on how to live below your means:
BORROW AND SHARE: Instead of going to the movies or renting a movie, instead borrow a DVD from a friend. Have a snack from your own fridge and creat the movie experience right in your own home. This is way cheaper than the gas and expense of going out.
GIVE WITHOUT SPENDING: It is important to give so that you may receive. Try to make someone’s day by sending them a letter. Help someone with a labor task they may have. Call someone to just say Hi. It’s the thought that counts and your personal touch that makes people feel special, not money.
AVOID THE MALL: Many people choose to walk around the mall as “something to do.” Going to the mall is not entertainment and you will end up spending money you never needed to. If you are in need of clothes try to shop sales and go to stores that offer name-brands at a discount.
NEED VS. WANT: Make a list of what you need and only buy what you need! Avoid things you might want but are not on your list.
DON’T LOOK AT ADVERTISEMENTS: Be careful of looking at advertisements….. Many times people are convinced they need items after looking at ad’s. If you didn’t know you needed it before looking at an ad, you probably don’t really need it. Of course if you know you need something ad’s are great to find the perfect sale.
NEVER PAY RETAIL: Only buy items when they are on sale. Always check the sale papers…. Buy from discount stores… Check the sale racks… Take advantage of coupons…
AVOID IMPULSE BUYING: When you see something to buy, even if it is on sale… Try to go home and do some research on the price. Double check that the sale price is the best price. Take the time to think about if you truly need to purchase the item or if the immediate excitement has worn off.
BUY WITH CASH: This is one that our grandparents have told us for years, but in todays economy of credit it is often hard to remember. Try to put money aside for items you know you will be needing and pay cash for them when they come on sale.
SAVE MONEY WHEN YOU SAVE MONEY: When you find a better deal on something, but the difference in price into a savings. This includes money saved when switching phone companies, internet access, insurance, shoes, clothes, electronics, etc.
STAY HEALTHY: Staying healthy will help you save money in many different ways. When you are healthy you save money on doctor bills and medicine. When you become ill and are unable to go to work, it may take away from your salary.
STAY HOME: Most people feel like going out is the only way to have fun. Instead of spending money just to “go out,” next time try to stay in with friends instead. Save money by staying home and relaxing.
TIME IS MONEY: Try to manage your time well to avoid lost money. Make a list of tasks and take care of the things that give a return on your time and can make you more productive.
A penny saved is a penny earned.
– Benjamin Franklin