Impulse purchases can account for a high percentage of your spending, so it’s important to know the difference between needing and wanting an item.
Don’t buy anything without researching it thoroughly first, ensuring the quality and utility will be worth your money in the long run.
Additionally, if you see something you want, don’t buy it straight away. Allow yourself 24 hours to consider the item. Chances are, you’ll forget about it. If, after 24 hours, you still desperately want the item in your life, review your budget and savings and made an appropriate decision.
Due to the popularity of the TLC show ‘Extreme Couponing’, more people than ever are taking part in couponing as both a hobby and an effective money saving technique. On the show, dedicated savers regularly purchase hundreds of dollars’ worth of groceries for mere cents.
While it doesn’t have to be extreme, cutting coupons out of newspapers or printing them from promotional sites can help ensure savings each time you shop.
There are coupons out there for most products, even staple items, which with enough careful planning could drastically reduce your grocery bill.
Overall, it’s clear money saving is important, especially when considering the future. By researching and understanding these tips, you can create a savings plan that suits your expenditure, income and goals, allowing you to save enough extra cash to live the life you want without getting into debt over luxuries.