6 Money Saving Tips for Beginners
Source: http://www.finweb.com/financial-planning/6-money-saving-tips-for-beginners.html#axzz2ZFjlX9X7
1. Shun the Things that Trigger Unnecessary Spending
Actually, this is the step where you plug the holes in your financial resources. One proven way to keep out the temptations is to lessen the hours that you spend in front of the television. Doing so, you spare yourself from the countless advertisements that are designed to lure you into spending your money. Instead of watching TV, you can have other hobbies that not only cost less, but also keep your mind off your consumption triggers.
2. Always List the Things You Need to Buy
A big part of all the successful money saving tips out there is planning how you spend every dollar. Make it a point not to go inside a store without you knowing what items to buy. Just like TV shows, store aisles are filled with advertisements that can trigger your buying impulse. Having a list with you will make sure that you do not spend a dime on useless purchases. However, it must be pointed out that having a list can be effective only if you do your best to stick to it.
3. Automate Your Payment System
If your bank allows automatic payment options, you can set up your savings or checking account in such a way that it can electronically transfer funds to your service providers and creditors, if any. Automatic payments prevent you from taking hold of cash which, in turn, will help you stave off the mindless desire to buy things.
4. Use the 30-Day Money Saving Rule
Even if you are bent on saving money, there will be times when you will find yourself deeply considering buying something that you really do not need. For such situations, you can use the 30-day rule which suggests that you wait for 30 days before purchasing unnecessary items. After a month, you may well have forgotten about the unimportant item or you will find that your urge to buy will have already fizzled out.
5. Reuse and Recycle
Do not throw out the things that you can still use. Make it a point to reuse or recycle household and personal items that still work. Besides helping save the planet, you will be surprised at how much money you can save if you choose to repair some of your appliances or fixtures as opposed to buying new ones.
6. Give Yourself Some Incentives
Good money saving tips are not supposed to make a penny-pincher out of everyone. As a matter of fact, financial experts recommend that you reward yourself when you reach the goals that you have set for the week or month. Giving yourself some incentives will give you the motivation to go a step higher in your money saving efforts. Rewarding yourself will also help you put more value into your purchases as you will think of them as achievements rather than ordinary expenses.
