Times are tough. However, you are tougher. That is why, with a few small and simple Saving Tips you can make changes to your lifestyle and spending habits, you can not only survive this credit crunch, but you can get back on top of your finances.
Limit your weekly spending
Think about all those little extras that you purchase every week. Maybe this is a coffee every day on your way to work. Maybe this is a quick sandwich and salad from the cafeteria at lunch. Perhaps it is a gossip magazine every time you visit a store. Or maybe it’s a daily mid afternoon energy drink or a pack of cigarettes. Whatever you are spending in a day, these little things can really add up.
Think about this: if you are buying a $ 5 coffee a day, then you are spending an extra $ 100 a month. If you are purchasing a $ 10 lunch every day, then you are spending an extra $ 200 a month. Cigarettes, magazines, energy drinks, after-work cocktails- all of these things can add up without you even realising it. Suddenly, you are at nearly $ 500 extra dollars a month, just with coffees, lunches and other daily treats.
You’ve probably heard people say “I don’t know where the money goes.”
Now you do. It is the little things that make the expense difference.
Your Savings start with a single Dollar.
Resist that sale!
When something is on sale, it’s a lot harder to simply walk past it. Retailers know and understand this; that is why they have sales. With the credit crunch and the slow spending, retailers and shops are constantly advertising their low prices and half off sales.
However, even if something is one sale, you are still paying for it. It is still an expense.Think twice before you spend and ask yourself the question: Do I need it or I just want it? Avoid the temptation and save.
Re-Shape your Special Indulgences
There are certain indulgences that you should never have to give up. Life is made up of those simple pleasures.
For those who love to spend their days off enjoying a cup of coffee and reading a good book, you can still do those things. However, instead of purchasing the latest $ 30 hard cover book and ordering a $ 7 double-shot-slim-mocha-chino-frap-a-licious-dollap of cream-on-the-top-coffee, you can buy on line at reduce price or visit a second hand book store and make the coffee at home. Browsing through a second hand book store is like exploring a whole world of forgotten treasures. And, finding a good book for under $ 5 is an indulgence in its own right and the savings are yours.
Or, for those who love to indulge in a spa treatment after a stressful week, why not create your own spa-like atmosphere at home? Light candles, put on soothing music and purchase some cheap massage oil from the drug store. Then, sweetly ask your hubby or beau, for a nice, long, lingering massage. Of course, you may have to exchange the favour but that is all part of the fun.
With a few minor adjustments to your daily lifestyle and weekly indulgences, you can save a couple hundred bucks and put those money woes behind you.
Edna Ferman is a Personal Finance expert and coach and residing in Sydney Australia. The creator of The EKG Money Method, Eliminate Debt, Keep your goals in sight and Get out of Debt. Edna has created this method, using her experience and expertise in managing her business, her business finances and her personal finances. With this knowledge and using this method herself, Edna has been advising and helping many people in enabling them to reach their financial freedom and will show you how to have a passionate love affair with your money.
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