Money Saving Tips For 2015
For many people, 2015 will be the year in which they resolve to save money, perhaps to pay off debt or to help them buy a big-ticket item, travel the world or achieve a long-held ambition.
Posted on Jan 16, 2015 by James
Aug 19, 2014 by Smart Personal Finance
The secret to financial success is simple: You need to spend less than you earn. If you are struggling to get your finances under control there are steps that you can take which will make a big difference. Here are nine ways that you can save money without having to make a major sacrifice to your lifestyle.
#1 Do Your Own Repairs
Everyone knows that the cost of hiring a carpenter or plumber can be crippling. At the same time you can't simply ignore a leaky tap or a broken lock. The solution is to learn how to do simple repairs around the home yourself. Many local colleges run adult education courses where you can learn the basics required to do household repairs. You can also learn how to do many things online using YouTube videos.
#2 Reduce Your Phone Bills
Thanks to a raft of new technologies there are a lot of opportunities to reduce your phone bills. If you currently own both a landline and mobile phones consider cutting off the landline. There are now phone over internet services like Skype which allow you to make inexpensive or even free national or international phone calls. If you have a mobile phone on a contract consider switching to a prepaid phone when the contract ends.
#3 Ride or Walk to Work
Depending on how close you live to your workplace you might consider riding a bicycle or walking instead. With the cost of car repairs and gas rising every year it can save you a lot of money. It is also great for your health which can help you save on medical bills.
#4 Cook Your Own Meals
Eating out can be very expensive. Eating premade meals can be less expensive but can be unhealthy. The answer is to cook your own meals. Cooking your own meals gives you control over your budget and what you are putting in your mouth. Try visiting a local market to purchase your fruits and vegetables. Reuse items and invest in foods like rice which can be purchased in bulk.
#5 Cut Out Your Vices
Alcohol, coffee and cigarettes are all bad for your health and even worse for your wallet. If you are drinking a few bottles of beer a night then it can have a serious impact on your finances. Even the costs of a morning coffee can mount up. Considering cutting back or if possible removing these beverages from your diet altogether. If you are a smoker, now is the time to give up. Smoking costs you thousands of dollars a year and will quite literally be the death of you.
#6 Buy Clothes On Sales and at Outlets
Just because you are on a budget doesn't mean that you can't still look your best. You can purchase brand name clothes either on sale or at outlet stores. If you are really committed to saving money consider shopping at salvation army and other charity stores.
#7 Cut Back On Washing
Many people wash their clothes far more often they need to do. Shirts, jeans and pants don't need to be cleaned each week. Washing only the essentials – underwear & socks – will significantly reduce your energy and water bills.
#8 Extended Warranties
Extended warranties are a trap you may avoid. The useful life of most products these days is as long as the standard warranty. The vast majority of the time you may never end up using an extended warranty.
#9 Visit Your Library
If you are looking for cheap entertainment there is no better place than your local library. In in addition to having access to a world of free books, many local libraries also supply DVDs, CDs, and free internet access.