Simple Tips for Saving More Money

For a long time we all spent like money was growing on trees, but the recent economic downturn has reminded us that money isn’t limitless and that we need to use common sense to save money where we can. Here are a few tips for saving money that will help you survive the economic downturn and save more money for the future so that you’ll be better prepared for the next economic bust.

You can save a lot of money by getting rid of your traditional phone company. Most of us have cell phones and our home phone is used less and less. If your cell phone has long distance included you can probably go ahead and cancel your phone service. If you need long distance to other countries or use it more than your cell phone minutes allow you should consider an Internet phone service. There are many options available that you can find online and at free Websites like Internetphoneguide.org. Internet phone service works with your existing Internet connection and uses a traditional style phone. There’s an initial cost of the Internet phone and the cost of the monthly service but you’ll get back your output quickly with the money you’ll save.

If you are a member of a gym you can save a chunk by dropping your membership. Hopefully you didn’t get scammed into a long term membership with a cost to cancel. If you’re a member of a legitimate gym this is a good time to cancel your membership and get reacquainted with the outdoors again. You can always join again during the winter. A good pair of walking shoes will go a long way toward keeping you, or getting you back, in shape. If you like to work out with weights look at one of the stores that sells used equipment for weights for a fraction of the cost of new equipment. If the weather is working against you walk in the local mall. Walking the mall in the mornings is fun and most stores are closed so you’ll be able to resist the temptation of impulse buying. Many malls even have distance charts and promote walking.

As we’ve all gotten busier we’ve eaten out more and more. By cutting back drastically on our eating out we are not only improving our health but also saving hundreds of dollars per month. If you eat out five times a week at an average of twenty dollars the savings is $400 a month. That’s almost $5000 per year! Of course, most of us eat out and spend much more than that. When you eat out less you also enjoy the times you do go out because those are treats instead of your daily habit. If you don’t know how much you’re spending on fast food and eating out each month you’re probably spending too much.

One way to learn about other areas you’re wasting money is to journalize your spending. Keep a small notebook with you for a month and write down every dime you spend. You may find that you’re blowing a couple of hundred dollars a month on coffee – when it’s free at work. Or that those newspapers and magazines are adding up when it’s all online for free. If you take your monthly spend on various items and multiply it by twelve you may find that you’re blowing thousands of dollars a year in areas that are not that important. Do you need that magazine, a six dollar coffee, a useless home decorating item, or new shirt? Do you really? Would you rather have those impulse items now or a real retirement later?

We’ve all had a wake up call, a call that is telling us that our personal relationships are more important than impulse buys, eating out, and blowing money where it doesn’t matter. Will you remember that new shirt 20 years from now or the time you spent playing ball with your kids in the backyard? Will you remember the six meals you had last week at various restaurants or the grill outs with friends and family? There are so many ways to save a few dollars here and a few dollars there that add up and leave more money for things that count and that will be remembered.