How to Effectively Save Money

Everyone experiences money problems at one time or another. Even the wealthy and affluent experience it in millions or billions. But for all those people who want to save every penny they can, here are some useful tips that can cut down expenses and make your wallet a bit fatter.

  • Cut out cable TV. You probably won’t need it anyway if you can get local channels via an antenna or through digital means. Plus, if you have work and usually get home late at night, your cable package won’t be of much use if you’re watching it only a fraction of the day. You’ll save big bucks in a few months’ time.

    • Decide if you would rather keep a cell phone or a home phone, since you really don’t have to pay for both. Yes, both are helpful in communication and work, so determine which of the two will be the most important and practical to keep. If you’re single and have your own apartment, it would be ideal to keep a cell phone since you will carry it around with you at work. If you have kids, it is ideal to keep a home phone since you want your children to easily phone you when they are not home.
    • Get a car you can afford. The main thing here is to have a car that is durable and can get you on the road. You don’t really need a car that is incredibly expensive since maintaining it can cost you a lot of money as. Find a car that is cheaper and can meet your budget. The main point of having a car is for travel, not appearance or showcasing.
    • Limit eating out. Yes, you have an active social life and think it requires you almost every day to dine out. It feels good to be able to catch up with friends over dinner, but it doesn’t feel good to have half of your pay check down the drain because of expensive dining out meals. Have a brown bag lunch at work and cook your dinner when you get home. This is a practical way to save and also to eat healthy.
    • Cut down on unnecessary beverages. Yes, your Starbucks in the morning is a staple—and maybe in the afternoons, too. Then you buy sodas in between or a cocktail at a bar at night. Human beings need only one kind of beverage, and that is water. You can buy a reusable container which you can refill and take to the office.
    • Shop at thrift shops for some wardrobe purchases. This is really a great way to save. You can buy branded clothes and good quality items at really cheap prices. Before you decide to buy clothes, you must ask yourself first, “Do I need this? Or do I want this?” If you need it go ahead, and buy it. If you want it but it’s not a necessity, wait a week to see if it’s still important to you.

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              About the Author: Marie Mayle is a contributor to the MegaHowTo team, writer, and entrepreneur based in California USA. She holds a degree in Business Administration. She loves to write about business and finance issues and how to tackle them.

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