Saving Money Tips

Unless you are financially well off (and even if you are), you may be interested in saving money tips - which is just what we help you with at savingmoneytips.org. Whether you are broke or have plenty of financial resources, not many people want to spend money that they don't have to spend. For most people, it seems that it costs everything you earn to make ends meet. If you are someone who lives paycheck to paycheck, you will find the tips below inspiring - and realistic.

Saving money tips - around the house

There are literally dozens of ways you can save money in your own home, but few people go to the time or trouble.

Cell phones are most people's primary means of communication today. If you have one, do away with the land line. You really do not need both, and you can stay connected through your cell phone or even the internet with services like VoIP.

Make sure your home is airtight. If you live in an older home, make sure that your windows and doors are not leaking air. Caulk around windows, seal around doors. Close the vents off in any rooms that you do not use regularly, and shut the doors to those rooms. Set your thermostat a little lower in winter months, a little higher in summer months.

Pay your bills on time. By paying your bills when they are due, you can avoid those $5 and $10 late fees - which can really add up if you have several bills you pay late each month.

Consider generic when it's available. Whether it's prescription or over-the-counter drugs or food items, generic labels can save you a substantial amount of money. For the most part, generic products are every bit as good as brand name items. If you have a large family, buy canned goods, toilet paper, shampoo, paper towels, beans, pasta, cereal and other items in bulk for substantial savings.

Saving money tips - credit, debt, etc.

Pay off your debt and consolidate. Consolidating your debts and paying them off quickly can save you thousands of dollars. Banks and financial institutions make a considerable amount of money through the interest they collect. Pay more than the minimum amount due each month, and consider consolidating all of your debts to a lower interest rate.

Credit cards can lead to bankruptcy - be choosy. If you do have several credit cards, chances are you are paying hundreds or thousands each year in interest and annual fees. Begin paying them off one by one, and cut the cards up so that you cannot use them. Also, check to be sure that the company does not charge you an annual fee. Tens of thousands of dollars racked up on credit cards can lead to financial devastation.

Know your bank account situation. When you write bad checks or overdraw your account, you will be charged over draft fees. Not only will the bank charge you $10 or $15 for writing an check when you have insufficient funds, the merchant you write the check to may also charge you $15, $20 or even $25. This is a huge waste, so keep your eye on your bank account and know how much money you have before you spend.

Miscellaneous saving money tips to help you keep more money in your bank account

Cook your own meals. Cooking your meals at home instead of eating out can save you a huge amount of money. Eating out on a daily basis can quickly wipe out your bank account, particularly if you have several children.

Take your lunch to work. By "brown bagging" it, you can save $20, $25 or even more each week. Spending $8 or $10 every day on lunch quickly adds up!

Make a grocery list before you go shopping. Make a list of only the items you need, and stick to it. Eat before you go shopping, so that your hunger doesn't have you "sneaking" things into your basket that are not on your list. Check off your list as you go; nothing is worse than forgetting the one item you really needed, then having to waste the gas to drive back to the supermarket.

Bottle your own water. At $1.00, $1.50 or more a bottle, buying water every day can quickly add up. For most people, the water straight out of the tap is clean and healthy. If your tap water leaves a little to be desired, consider a filter - you will still save a substantial amount of money in the long run. Not only will you save by bottling your own water and taking it to work, you won't be tempted to spend money on sodas in the vending machines.

Keep your car - and maintain it well. The payment for a new car is likely to be much more than what you would spend to maintain your old car. Change the oil regularly, use the right fuel, etc. A well maintained vehicle will provide you with sound transportation for years - and when you do buy, choose to buy pre-owned instead of brand new.

Can you imagine how much money you would save each year if you were to do all of the things listed above? Chances are you would save thousands. Put these saving money tips to work in your own household, and watch your bank account grow.