Save Money on Money! by Jesspar Loeth - HTML preview

How to save money on your money affairs and other affairs.

Free Ebook with Giveaway Rights

Composed by Jesspar Loeth
Website: http://www.love-and-care.com/SaveMoney

 

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Contents

• Importance of saving: Saving the best for the last
• Modern ways of saving money: 4 tricks that can make you rich
• Credit Card Savings
• A little goes a long way: Smart secrets to budgetingent
• Gas saving tips

Importance of saving: Saving the best for the last

The value of money cannot be underestimated. In a recent
national survey, more than 96% Americans agreed that early
monetary savings would help one achieve a fruitful and stable
life.

Saving is a way of insulating oneself from the many
symptoms of health and natural adversity. While an average
youth of yesteryears thinks more about short-term financial
goals such as purchasing a new pair of signature shoes,
owning a new jet ski or a brand new car, statistics show that
more and more are starting to realize the importance of
keeping a personal savings.

Long terms goals are described as goals that have a lasting

 

effect should a person’s present actions be religiously maintained.

The following statements are outlined to provide information and tips on how you can start up your money-saving gimmicks and ensure a happy and financially stable future and list the reasons as to why saving money should occupy a greater place in our list of priorities in life.

Reasons for Saving:

 

# Saving for your Future and Present Needs – Saving today will provide you with flexible financial resources in the future.

Keeping at least 20% of your monthly earnings while using the other for your household, personal and unexpected expenses will surely play a big part in your pursuit for a stable future.

# Saving for an Investment Need – Savings can also be a source of your future capital for engaging in business enterprises.

 

It will provide you more opportunity for venturing on your unexplored talents and earn you a huge potential in increasing your money exponentially.

# Saving for your Retirement – More than 23% of today’s elderly were shown to have failed in one instance in their lives, to save and strategically used their money for preparing their way to retirement. As a result, these folks extend their entire retirement career working on an equally satisfying job that pays them enough to cover their basic expenses.

Keys to Fulfilling your Saving Goals:

 

No matter how good our intentions and objectives for saving are, we should also take note that goals can fall and touched the following baselines or characteristics.

# Attainability – Goals should be something attainable and one which can be achieved without you doing something extraordinary or illegal. A little amount of patience and hard work are key.

# Consistency – Changing your goals from time to time due to incidents that may arise in the near future are sure ways to deterring your intention to save.

 

While we need to focus on the present incidents, we also need to take hold of our original intention and continue until you have gained enough leads to get it.

Modern ways of saving money: 4 tricks that can make you rich

Saving has always been a way of life for people who believed on its power. These people know that they have to save more money in order to create a more established future.

However, as time goes by, more and more people find it hard to save money. They contend that saving is no longer a way of life but a resolution that they have to strictly adhere to just to salt away some amount of money.

Some people even insist that it is no longer possible for a person to save more money because most of them are already living paycheck to paycheck. With all the high-prices of commodities these days, saving more money is no longer workable.

But the point is that people can indeed save more.

 

How? Here is a list of some modern ways that will let you save more money:

 

1. Save some percentage from your salary

Most money-savers automatically take at least 30% from their salary and save them into their savings account. The basic concept here is that most of us spend whatever amount we have on our paycheck, and maybe even more. If you are able to limit that amount, your expenses will unexplainably get smaller.

2. Pay everything in cash

Credit cards had always been a way of life for most consumers. The problem is that they become so comfortable with it that they tend to spend everything on credit. In fact, statistics show that the average family has an average outstanding balance on their credit cards amounting to $7,000. And they even pay almost $1,000 in each year just on the interest charges alone.
Hence, because of this comfortable shopping, they forget to keep track of their expenses and accumulate more payables than what they can afford to pay.

3. Set goals

Create goals that you really want and not be fickle-minded about it. If there’s a certain amount involved, be specific with the amount, like saying “I will save $5,000 in a year and not around $5,000.”

Try to set your goals based on your priorities. Have a period for every goal.

 

4. Check your company’s retirement plan

With your employer plan such as the 401(k) or the 403(b), you can definitely save more money for the future. Here, your company will deduct a percentage of your salary from each paycheck and invest the amount in your choice of instruments—mainly mutual funds.

The bottom line is that saving is not just a way of life or a resolution. It’s the ultimate gratification that you get as a fruit of your labor.

Credit Card Savings

Having a credit card is very convenient since carrying a lot of
cash becomes unneccesary and you might even have a hard
time leaving your credit card at home. But with its advantages
comes also its disadvantages. Since you can always buy things
without carrying cash around, you are always tempted to buy
something that you come across. If you have excellent control
on your finances then good for you. If you have a hard time
managing your credit card, then these pointers can help you.

Get organized

 

First thing's first, obtain your credit card records to have a
better idea of your spendings. Be sure to double check the
records for errors and ensure its accuracy. A good example would be to find out if you have outstanding debts that should not be there as well as the accuracy of the listing of your former and present address.

Evaluate your credit card

Go over your recent credit card records and look at the interest rates. Some credit card companies have promos wherein they offer lower interest rates for a period of time and this promo may already be over yet you have no idea and are already paying at a higher interest rate. Also take note of the membership fee which they charge annually since some have very high membership fees. Consider cancelling this if you are not using it frequently.

Pay on time

It is important to pay your bills on time since it can have a negative effect on your credit record or rating. You will also be able to avoid getting charged because of not paying on time. Try asking the credit card company to remove the overdue charge if you have forgotten to pay it on time for the first time.

Manage your debts

If you see that you have more debt than what is comfortable, think ahead and plan out how you will repay it or at least reduce your debt. Devise a way to pay more than what is required of you so that you will have a reduced payment schedule. Prioritize the card that has the highest interest rate. Do not bring your credit card always when you go around since temptations abound.

Don't bite more than you can chew

As the saying "don't bite more than you can chew" goes, do not spend more than you can afford. True, a beautiful gold bracelet may be enjoyable to wear but its price tag may mean paying a lot for the next months. If you are bent to save money when using your credit card, unnecessary items like jewelry and the like should be at the bottom of your considerations.

A little goes a long way: Smart secrets to budgeting

There’s nothing more we want than to be able to efficiently
manage our money. After all, the money that we want to
manage is money that is oftentimes, hard earned. This is
where a budget comes in. A budget executed properly, should
help you see where your money is going, get more utility out
of every buck, and help you save some extra for future use.

The first smart secret to a budget is to set a goal. What do you
want to achieve? Do you want to correctly appropriate your
income into bills payments? Do you want to put an amount
aside for a big purchase or a huge investment? By having a
goal, you will be able to shape your budget to best serve your
interests.

Secondly, you would want to take note of where your money
usually goes. This includes bills, major but regular purchases (like grocery costs, healthcare costs, and the like), and everyday miscellaneous purchases. Only when you list down where you know your money usually goes will you be able to identify which expenses you can do without. Once you’ve identified these regular expenditures, take into consideration what you can cut back on. How much do you spend on your daily caffeine fix in the morning? How much do you spend on newspaper deliveries to your front door? The measly $2 or $5 of these small purchases cumulatively translates to more than $3600 a year! Instead of buying your expensive latte or reading the newspaper on print, put aside the amount you would usually pay for these small routine purchases in a small container. You will be surprised at how much you’re saving out of your older budget.

Being indebted is a vicious cycle on its own. You’re talking about continuous payments, not to mention huge interest rates. The best way to deal with this is to pay the minimum on all of your debts in order to avoid paying extraneous late fees. Whatever cash excesses you may have, you can opt to add on to the payments you make in your biggest debt. This way, you are concentrated on getting the biggest debts first that cost you the greatest interest rates. Doing this progressively, you’ll be amazed at how much you’ll get off your huge debts.

The last and most important step is to jot down the amount you earn the sum you spend. You can make use of computer cash management programs, or make database sheets of your own. Make a system that works for you and will help you keep track of your monthly budgeting progress.

Gas saving tips

The price of gasoline is on the rise. This is truly a great
concern if you are following a tight budget. So how can you
save some money on gas? Read these tips.

The carpool system

This is a great idea for employees and students alike. Since all
of you will have the same destination, there is no need to
bring extra vehicles if you can all fit in one car or van. If you
are with your co-workers, it is a good idea to bring your cars

alternately or on rotation. If you have children that you bring
to school or social events, exchange driving responsibilities
with your friends.

Commute to work

You can always take the public transportation system when going to the office. This is also a good way to relax since you are not driving. You can even take a short nap while on your way.

Look at the prices of different gas stations

Take time to drive around and check the pump prices of the gas stations near your neighborhood. Keep in mind that a few cents difference can add up to a lot if you continually have your car re-filled in the same gas station all the time.

Shed some sweat

A good way to save money on gas and keep yourself healthy at the same time is by walking or riding a bike to your destination. It saves time since you do not have to look for parking and also makes you healthier from the exercise. Utilizing these alternatives will also keep you from getting stuck in traffic which will surely waste a lot of your time and gas.

Keep your car in very good condition

It is necessary to keep your car's engine in good running condition so that it will not consume a lot of fuel. When driving around on errands, plan out your route before you even get out of the house. This will minimize your trips going back and forth. If is also ideal to use the aircon as minimal as possible since it drastically increases the car's fuel consumption.

Check your car's tire pressure

Keep it a habit to check your car's tires so each one has the right amount of pressure. Having unequal pressure can greatly affect the car's fuel economy. It is also advised for you to refrain from accelerating too fast since this means burning a lot more fuel.

These are some of the things that you can do to save on gas. Gasoline is not a renewable resource, therefore using it wisely is very important to conserve this valuable commodity.