Recession, mortgage crisis, bail outs, bankruptcies and what not. If we don't get our act straight, we will soon join the queue. Here are a few tips to avoid that.
Cash or Credit
'Would it be cash or card?' a question we all have been asked countless times whenever we go shopping and each and everyone of us if have a credit card feel that irresistible urge to charge up the credit as it doesn't feel like paying out from your pocket but nobody's that dumb, they are just myopic.
Paying off credit card debt is a royal pain and it keeps accumulating. So please always use cash, emergencies are an exception here of course. But try as much as you can to pay cash especially when buying groceries or something really cheap and you shop for it regularly as it doesn't seem much but at the end of the month the bill is huge.
Keeping Track
You have got to keep track. There are no shortcuts here. It is a pain but it needs to be done. It can be done by maintaining a spreadsheet on excel daily. You just remember how you spend your money and whenever you check your email on the laptop, update your budget spreadsheet as well. Quite simple actually. This will help you at the end of the month when you get your paycheck, to dish out all the unnecessary expenses out.
Deal Hunting
One is always going to shop no matter what the situation thanks to the tempting capitalistic society we live in. but whenever you do, window shop a bit. You might just save pennies and dimes on EBay but they will count for a lot in the long run. Play it like a game where the seller is your enemy and your mission is to buy the product for free! Aim high and you will get close. So whenever you go to shop anywhere put on your hunting boots because it's going to be a long day!
Go Green!
Save the planet and the planet will save you! The biggest expenses for anybody (who pay their own bills) are the energy bills. Install energy saver bulbs instead of the normal ones. Try to use as much less as you can for everything. Do the laundry 4 days a week instead of 6. Your clothes will live longer and you will save electricity, water and washing products costs. Turn of unnecessary lights. Recycle, don't buy. You will save a whole bunch and you will start caring about global warming. Try it, it actually works!
Cook
All of the above tips are not pleasant or cool but are effective. The most unpleasant one is to cook (if you don't like to that is) and cook as much as you can. Going out with friends? Throw a party and cook together and share the costs. It would be actually cheaper than spending a day alone at home and more fun. When cooking, challenge yourself by cooking something that you don't know how to. Let your friends help you, rent out a movie, DO NOT order a take out as it will ruin the whole point of saving money.
Try out these tips and I am sure it will save a lot of money for you and you can go spend that all over again.
Nathan M Black works as a marketing consultant for Michelle Boudreau's Debt Rescue L.L.C who specialize in debt eliminating services.
Article Source: http://EzineArticles.com/?expert=Nathan_M_Black
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