Save money in small ways

 by Kemi Lawal

   

clothing
| credits: File copy

You can manage your finances better if you are able to minimise spending and save on all expenditures made. It takes you cutting down on unnecessary cost without lowering your standard of living

Clothes

Agreed, you need good quality clothing. But you need not pay a ton of money to buy them. According to www.ehow.com, purchase clothing out of season and you will be most likely to get the best price. In addition, stop purchasing clothing you don’t need. Take care of your clothing and teach your family members how to take care of their clothing.

Phone bills

Purchase the plan that is right for you, based on your minute usage. Choose a plan that provides minutes during the time you use it. If you rarely use your phone, consider a pay-as-you-go plan. Also, trim the excess features from your phone and don’t download custom ringtones. It may not seem very expensive to pay for a ringtone you love, but if you download several, or do so on a regular basis, this cost will add up quickly. You can actually make your own ringtone if you have the right kind of phone. This can save you lots of money.

Television entertainment

If you pay for cable or satellite service, then chances are good that you can find a way to save money on your television service. The key is to continually audit your level of service and see if the money you spend is committed to the features you use. If you have any waste, then remove it.

If you are paying a monthly service fee for a receiver that you use sparingly or don’t use, then you can save immediately by removing it from your service plan. Changing service providers can be a good opportunity to save in the short term because most cable and satellite companies offer their best deals to new customers. Just be sure to pay attention to the cost of the service after the promotion period expires.

Food

Plan your food budget ahead of time, basing your budget on local food and seasonal specialties, and you will be able to save a significant portion of your food costs while eating a better and more varied menu. Write both a menu and a shopping list before your trip. A menu for the entire week or month will cut down on last-minute trips for forgotten ingredients, and a shopping list will allow you to estimate your total bill for the week before you leave home. Also engage in bulk buying, it saves time and money.

Insurance

Participate in your employer’s health insurance plan. Since employers direct a large volume of business to the insurer, the employer is generally able to negotiate more favourable rates, meaning you can save money on your employer-sponsored health insurance premiums over buying an individual health insurance policy directly from the insurer.

Car

A properly maintained vehicle will run more efficiently and give you better mileage, which saves you money in fuel. If you want to spend less on your car, make sure it is serviced regularly. If you are not that handy or mechanically inclined, read some auto repair books or befriend a mechanic. Take care of your car. To save cost on fuel, fill up once. It lasts longer that way.

Jewellery

When buying, know and understand the current jewellery prices for the weight of whatever you seek. You can purchase previously owned jewellery since there is often wonderful quality and drastically reduced prices on pieces that were previously pawned.  Also you can go for costume jewellery that doesn’t cost an arm and a leg.

Electricity

For most people, the monthly electric bill accounts for a significant part of the monthly budget, yet you can spend less on it. Buy energy efficient devices. Don’t buy devices that are bigger than necessary (buy and use small pressure cookers whenever possible). Ask for energy efficient devices. Don’t forget that power adapters (transformers for rechargeable appliances) consume energy. Unplug them when not in use. When leaving the home, unplug all devices and switch off the lights to minimise electricity consumption.