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1. My first tip is a two in one tip – set goals and start planning. By goals, I mean that you should first make a list of your short term, intermediate, and long term goals. This will help you plan wisely. Also, each short term goal that you reach will encourage you to save more and accomplish the next goal. “Reason why” you need to save is a powerful motivator. Next, whenever you go shopping, make a list of all the things you wish to buy and control your desire to buy anything else unless you will require it in near future and it is currently available at a bargain. Failing to plan in advance will lead to impulsive spending. In fact, it would be best to leave your credit card at home and come with limited cash, so you don’t give yourself any excuses! 2. My next tip actually costs more money but is a great saver in the long run – buy reusable stuff. Rechargeable batteries, artificial flowers, artificial Christmas tree, etc cost a little more initially but save a lot of money in the long run. Unfortunately, use and throw seems to be more of a norm these days – I know folks who use paper dishes at home to save them the bother of washing! 3. This tip will also need you to spend more initially – buy in bulk. I cannot emphasize enough how important this is. If you’re planning to buy non perishable goods (like soap), you should buy in as large a quantity as possible and affordable, depending on the maximum bulk discount available. You should also prefer to buy stuff that come in larger quantities per unit. For example, if you plan to buy washing machine powder, you will notice that small packages are comparatively more expensive. This may not always be true, so it makes sense in keeping a calculator whenever you go shopping, if you’re math is not good enough. Divide the cost by the weight /number of pieces for each different variety of packages and you will know how much the difference is. For perishable goods, be careful and buy the largest quantity possible that will be consumed before getting perished. Don’t overbuy to an extent that you have to throw away the last remains, unless it is still worth! A good idea is to go shopping in groups so that you can buy in bulk. Prices of some items fluctuate seasonally, so try to stock up at that time. Prepare to save enough cash reserves in advance for such situations by making notes in your calendar. 4. Always visit the clearance racks first whenever you go shopping. Sometimes it may take a little more time to search for the right items but the savings will be worth it. You can also get good bargains at thrift and surplus stores. 5. Reducing wastage is also a big one. There are many things you can do to avoid wastage; things like switching off lights, fans and other electric appliances when not required (especially when you’re moving from one room to another), switching off a car when you need to wait for over a minute at the traffic signal, paying bills on time to avoid late payment fees, avoiding delay in dental treatment, using the washing machine only when it is full, using up credit card reward points and air flier miles on time to avoid their lapse, paying off debts on or before time whenever you can to avoid excess interest, keeping your house properly insulated to avoid excess use of utilities like air conditioner and room heater, canceling subscriptions to magazines which you read sparingly, selling suff you no longer need on ebay, etc are some great ways to reduce wastage. 6. Buy stuff of good quality, especially durable items. Don’t go shopping vegetables with plastic or paper bags which will last only once or twice; use cloth bags instead. You even save the risk of the bag getting torn in transit, causing embarrassment and possible damage. Also learn to extend the durability of stuff like covering electronic items with dust free covers, using anti-moisture products in appliances and places of high moisture, to reduce corrosion; powder coating aluminum slides, regularly oiling mechanical parts, etc. 7. You can also save a lot when going for a movie, if you’re a die hard movie fan. For example, you can go for a matinee show or one where the tickets are cheaper, look out for discounted tickets normally found online, bring your own popcorn in an opaque plastic bag placed in a large purse, wear jeans with large pockets and stuff them with snacks and chocolates, etc. Finally, allow yourself to splurge once in a while! Saving is good, but don’t be a permanent miser. Total deprivation can sometimes lead to overindulgence, just like dieting. You should also understand the difference between a “need” and a “want”. Buy only the things that you need, not what you want.
Article Source: http://www.bharatbhasha.net Article Url: http://www.bharatbhasha.net/house_hold.php/107940 Article Added on Sunday, November 30, 2008
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