2009 30 Oct

Easy Money Saving Tips – Personal Finance Basics

There are many easy ways to save money when dealing with personal finance basics. There are a few that are slightly more time consuming than other methods but despite that fact it’s well worth the time it might take. If you only follow one or 2 of these tips you could save hundreds of dollars each month.

Check out the subsequent nine ways to save your money

REQUEST FREE SAMPLES:

There are plenty of websites that offer free samples for every day products. Even the huge companies such as Wal Mart or Petsmart have great opportunities for you and I to get free items. Those products range from skin lotions and shampoos to frozen food or cleaning products. One other option is to visit a manufacturer’s website to locate some free samples on brand new products. If you need something, type the words ‘free sample’ into google before you go to the store to purchase it. This is the foundation of learning personal finance basics.

CHANGE CREDIT CARD SPENDING AND HABITS:

Credit cards can be wonderful but can be hazardous. With high interest rates and monthly fees, credit cards may end up costing you a lot more in the future than you may have planned.

My rules of thumb:
– always use cash unless its for a huge purchase
– be certain you are able to afford the item before you use a credit card
– be sure you can pay the amount owe on your credit card

AVOID IMPULSE BUYS:

We all know what it’s like to push a shopping cart through the aisles of the grocery store and when we arrive at the check out we have twice as much as we planned to buy. You should create a shopping list, follow it and never purchase anything that’s not on that list. This goes for any type of shopping like clothes, books or movies or CD’s. Retail outlets are designed specifically for those impulse buys with magazine racks and chocolate bars within an arms length. Make your list, check it twice, and follow it.

SHOP THE SALE RACK:

This is another personal finance basics rule but keep in mind this isn’t necessarily an impulse buy. You have your list and know that you need a pair of pants and a shirt check the sale display before you shop. Chances are you might find that said item on sale and pay half the regular price. Food stores work the same way. They usually over order products and are forced to run in-store specials on overstock items. Just make sure that item is on your list.

SAVE YOUR HARD EARNED MONEY:

This is sometimes the hardest thing you have to do when cash is tight, but it is the most critical step to take. According to a book I’ve read ‘The Wealthy Barber’ you should save 10% of your paycheck every week. That may not seem like a lot but it does add up rather quickly and if wisely invested it will assist your retirement plans in the future.