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Friday, 15 January 2010

Tips and Tricks to Save Money

There are infinite ways to reduce spending. This way more money can be freed to achieve the financial goals you set. The secret of saving money is to think small: every dollar and cent counts. If you look thorough your budget you will see how really small amounts of money add up: so if you start to save here and there, those cents can also add up.

Below you will find a few money-saving tricks, with the mention that these are only a fraction of what can be done with careful planning and creativity. So in order to save, you should have a really careful look at your expenses, from your car, your home; shopping, vacations, and services.

One of the best places to start savings is your car: the most important thing is you should use your car only when you really need it. Money can be saved by carpooling and planning your routes to reduce the distance you are driving. Try to find the gas stations with the cheapest gasoline, take advantage of discounts, and you can change oil yourself.

Buying a new car is not a very good business, because the value of new cars drop significantly as soon as you buy them. Used cars are already depreciated, so their price is closer to what they actually worth. You also can save money on insurance, as you can get discounts if you have antilock brakes, passive restraints, and antitheft devices.

You can do a lot of savings with your household also: smaller utility bills can be achieved by buying energy efficient appliances and light bulbs, or using curtains instead of air conditioning to keep your home cool in the summer. You can save money also by using high energy appliances, like clothes dryers and dishwashers during nonpeak times.

When you are shopping, you should be looking for sale items you' buy anyway. You can search for coupons on products you use, and paper goods and cleaning supplies can be bought from dollar stores. You can take advantage of bulk discounts by joining warehouse clubs like Sam's Club, Costco, or BJ's Warehouse.

Don't buy anything just because the price is good: you should spend money only on items you really need. You should also be looking for store brands instead of national brands: often store brands are the surplus of a national brand, so you will get the same quality for less money. Shopping online can be also a great way to save money, because the prices don't have transportation fee included in the price.