10 Tips To Fatten Up Your Piggybank (Without Using Cornmeal)!
Where is the economy going these days? Gas prices are up, milk prices are up, my favorite cereal is over 5 dollars per box, home prices are still high, foreclosures are rapidly rising and the stock market is tanking. So much for investing in the future when a majority of the population in the U.S. is barely getting by. It is really depressing to realize that there is no money left over after paying the mortgage, the car, the utilities and the credit cards. I’m sure many of us can relate to that scenario. A terrible financial storm is brewing without many people noticing. This storm will be worse than the tornado that picked up Dorothy’s house and dropped it off in Munchkin land. We all have to do our part to save so that we won’t get caught up in the disaster. Hopefully this article can give you useful tips on how to save a little here and there so that we have something to invest in and grow for the future.
Here are some great tips that will help you make your piggybank so nice and plump that Farmer John would be jealous of it! Only this time, when it gets slaughtered, money comes out of it instead of your next Staples Center hot dog or morning bacon. Even though it doesn’t sound like much in the beginning, believe me, a little here and there over the long run will add hundreds and thousands of extra dollars into your savings account. I don’t know about you, but there are plenty of great investments I can do with those extra thousands.
1) First of all, you have to change your views about shopping. Buy because it is something you “need.” These are basic needs items such as toilet paper, soap, toothpaste and food. When I mention food, I mean staying in and cooking as opposed to eating out. Don’t buy because it is something you “want.” Why do you buy another pair of shoes, when the other pair is still brand new or only worn once? That would be a waste of money.
2) Live within your means. There is no need to compete with your next door neighbor or the celebrities with big homes and 14 cars on MTV. Nothing gets us faster into debt than trying to be better than someone else. Take the time to plan a budget and keep a monthly tab on the money coming in and the money going out.
3) Make sure you have a plan for everything. For example, make sure you have a grocery shopping list of the items that you only need. This will prevent impulse buying and spending more than you need to.
4) Use coupons, especially when the item is on sale. A combination of the two will help you gain substantial savings. I used to laugh at my aunt when I was 14 years old. I thought she was wasting her time cutting out those coupons every Sunday. It didn’t hit me until 10 years later how many hundreds of dollars they helped me save.
5) Check out the clearance section at department stores. There can be amazing bargains just waiting for you. You may be able to find that shirt you’ve been wanting to have or that toy your kids have been clamoring about.
6) Go to discount stores like 99¢ Only or Big Lots. There is nothing wrong with shopping there at all! It is not what it used to be. In the past, they may have offered generic items of brand names or poorly manufactured items. But now, they are stock full of name brand items at a fraction of the cost. Why not shop there when the same box of laundry detergent can be bought for 80% off the regular price?
7) Participate in rebate programs in stores that have them. Yeah, it is a pain to cut out UPC codes, fill out forms and make copies of receipts. But the money that you save is well worth it.
8) Keep a jar or large cup nearby if you don’t have a piggybank. Put all your change in there everytime you break your bills. You will notice over time that the loose change will build up. Take this jar to the Coinstar machine at your local grocery store and convert it into dollar bills.
9) Are there gifts that you receive but never use? Well, there is this secret Chinese way that helps you get rid of it! It is called “gift recycling.” This can be anything from unopened chocolate boxes to DVDs. This is another money saver because you do not have to buy any more gifts and you have something that you can give right away.
10) Buy items that can be reusable. Some items that come to mind are batteries and towel wipes. Sure rechargeable batteries cost more initially, but over time, the savings will add up since you do not have to buy anymore new batteries. Towel wipes are great for cleaning spills, counters and mirrors. It sure beats using rolls of paper towels to clean up the same mess.
Ok, I hope that these 10 tips will help you on your way to a debt free life. Remember, only you have the power to avoid the big storm that is headed our way.
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