9 Tips To Save Money - Personal Finance Basics

There are plenty of simple tips for you to save money
when it comes to personal finance basics. Some are a little more time consuming than others but despite that fact it is well worth the time it might take. Even if you follow one or 2 of the following tips you could save hundreds of dollars every year.

REQUEST FREE SAMPLES:

There are lots of websites that offer free samples on every day products. Even the huge stores like K-Mart or Home Depot have excellent opportunities for you and I to get free products. Those items range from skin lotions and personal hygiene products to pet food or bathroom products. Another option is to go directly to a manufacturer's website to locate some free samples on newly released items. If you need something, type 'free sample' into google before you go to the store to buy that product. This is the beginning of mastering personal finance basics.

CHANGE CREDIT CARD SPENDING AND HABITS:

Credit cards can be wonderful but can be hazardous. With high interest rates and monthly fees, credit cards may wind up costing you a lot more down the road than you may have planned.

Things I keep in mind:

- always use cash unless its for a major purchase

- always make sure you are able to afford the item before you use a credit card

- always pay the balance of your credit card

AVOID IMPULSE BUYS:

We all know what it's like to push a shopping cart through the aisles of the grocery store and when we get to the check out we 've picked up double the amount we planned to buy. Always, always, always make a shopping list, follow that list and never purchase anything that isn't on your list. This goes for any type of shopping including wardrobe, books or movies or CD's. Stores are designed specifically for impulse buys with magazine racks and gum within easy reach. Make your list, check it twice, and follow it.

SHOP THE SALE RACK:

This is another personal finance basics rule but don't confuse this with an impulse buy. If you made your list and know what you need, so check the sale display before you shop. It's pretty likely you might locate that said item on sale and pay far less than the regular price. Food stores work the same way. They often over order items and sometimes run unadvertised specials on overstock items. Just be sure the product is on your list.

SAVE YOUR HARD EARNED MONEY:

This may be the hardest thing you have to do when cash is tight, but it just might be the most important of these steps. According to the book 'The Wealthy Barber' you should save ten per cent of the money you make each month. That may not seem like a lot but it does add up rather quickly and if properly invested it will go a long way towards your retirement plans in the future.

SAVE YOUR CHANGE:

This may sound a little silly but this simple tip is a great one. How? Because it's just like found cash. After you come home from the store put any loose change into a jar. Each month or every few months count up the change, roll it up and deposit it into your bank account or reward yourself to a well deserved evening out. These are the personal finance basics you learned when you were very young.

BUY IN BULK:

We've already touched on shopping but I have another shopping idea that mostly applies to grocery shopping. Buy in bulk. If you mostly drink orange and you see that it is on sale at half price, buy 4 instead of two or buy the 24 pack of water instead of the 12 pack. It seems to make sense but many people don't make bulk buys on every day items.

CLIP COUPONS:

I know this may make you feel like your grand mother but this is another great way to save lots of cash. It takes just a couple minutes every week and you will probably save hundreds of dollars every year on things you were already planning to buy. Go through the local newspaper or check the Internet for some money saving coupons.

RECYCLE PLASTIC BAGS:

This is a wonderful way to 'Go Green' and it will put money in your pocket too! Lots of retail outlets are now charging around ten cents for plastic bags. You probably have about a million of them hidden away somewhere in your house. Couldn't you just bring those bags when you go shopping and re-use them? Try to use those plastic bags from the store for the garbage under your kitchen sink or in the bathroom. You don't have to spend money every month on a pack of kitchen garbage bags when you already have them at home.

These easy tips will not only save you hundreds of dollars every year but they are simple and might even be fun. It's always rewarding to know that you have started to take the right steps to becoming debt free. If you follow these tips to save money you are one your way to understanding the personal finance basics all of us should know.