How to save money? This is the general question asked by all house wives living in America as well as in other parts of the world. We are having a number of websites which gives us tips to save money. Here I have given some tips on how to save money through frugal living. The recent recession has made the life in US much harder and stressful. In recent conversation with many people I am surprised to know that I am not the only person with credit card debt. Many people are having credit cards with debts. When I go down the memory lane, I feel that it is mainly due to the lack of planning. I really wish our education system has included a curriculum on how to manage our finances, how to plan our spending and saving. I strongly believe in “better late than never”. So I decided to take out a new leaf in my life and I started planning for my home. I tried all sort of frugal methods to save money. So far, it has come out well. Initially it was very tough (believe me it is really tough) but later I got used to it. I have listed some of the ideas I implemented below. Some may feel good about my ideas and some may not be ok with my ideas and some may also feel funny but it has worked out for me. If you are interested you can proceed. So take the good ideas whichever is ok for you.
PLANNING:
1. The word planning is very important in everything we do. Whether our plan works out or not is another thing but it is very important to plan. Before the start of every month, make a chart how much you are going to spend for groceries. Find out which grocery items need to be bought for this month. Mention all the things, even the smaller things you are going to buy at grocery store. (Remember the rule every penny counts)
2. Know the prices and talk to your friends - Be aware of all the prices of groceries in the food market. When you talk with your friends just speak to them about the rates of grocery items in each shop. You will be pleasantly surprised to know about many better deals in a shop you had little known.
3. Plan your travel - Plan a schedule for spending money on weekends, tours and trips. Allot some amount of money for your tour trips. Talk to your friends about it. Search in the internet to get information about that place. Select the places in which you are convenient, happy and satisfied in all aspects. But remember to choose a place nearby your city (it will save gas in your car). There are many parks, recreation areas, open concerts, and other attractions which do not require an entrance fee but still can make you and your family happy.
4. Utilities (Utilize it wisely) - Allot some money for water bill, electricity bill, gas bill, telephone bill initially. Once you have received your first month bill, plan on how to reduce the bill.
5. Be prepared (emergencies may emerge at any time) - Allot some amount of money for your emergency fund and don’t touch that amount at any circumstances.
6. Save early, Save more - Allot some amount for saving purpose (may be in a separate bank account). The more you control your spending the more this account will grow. In a short run it may look like nothing. But believe me even if you control spending $1 every week you would have saved nearly $50 in a year and $500 in 10 years. When you spending less and saving becomes a habit nothing will make you happier. But remember don’t touch your savings except when it is absolutely necessary.
7. Keep your receipts – Keep your receipts in a safe place maybe in separate folders which greatly helps you a lot when returning things in shops. Don’t loose your receipts.
How to save money on Utilities:
ELECRICITY AND GAS
1. The first step in summer is buying a fan instead of using A/C at home. There are good and reliable fans in Walmart or any other shop sometime with deals.
2. During winter the gas bill are usually high so buy a separate small heater for your bedroom.
WATER BILL
1. Run washing machine and dishwasher only when they are full which will save ~10000 gallons a month
2. Turn off water while brushing your teeth
3. Replace incandescent bulbs with compact fluorescent bulbs.
4. If possible buy a bucket and use it for bathing. It may be silly for you but it shows the amount of water you are using for taking bath.
5. If you are not using your dishwasher for washing utensils and if you are having the habit of washing the utensils directly from tap water then don’t use it directly, just take some water in a separate pot or bucket and use that water for washing. I have not tried this but I think it really will save water.
OTHER TIPS:
1. Dont use paper napkins often instead of which you can use hand kerchiefs for wiping your face. This way you will also contribute to the go green movement.
2. Buy paper towels but use it for necessary conditions such as to remove oil from food etc. but don’t use paper towels for cleaning kitchen. You can use a piece of cloth for cleaning dust, stains in your kitchen slabs.
3. Don’t go for window shopping often because it always tempts us to buy things. If you have control over your heart then you can proceed.
4. If you want to buy used sofas and any furniture items, you are having craigslist in net and these items are also cheap and reliable in yard sale.
5. Don’t buy trash bags often, you can just use the plastic covers which we are getting from shops. When you buy things, just collect and save those bags and use it for throwing trash.
6. Buy milk, bread, eggs, and ice creams from budget stores like ALDI. These rates are very cheap in that shop (cheaper than walmart). Keep your eyes open to know about such stores in your area.
7. Any item that is sitting in your home without any use is a waste of investment. If you have any such items to be sold then you can sell your products in craigslist or ebay.
8. Don’t throw the curd box after using the curd. These boxes are useful for growing plants such as pudina (mint). In US, pudina leaves are very costly so you can grow your own plants. Buying seeds are cheaper than buying a plant.
9. Don’t throw any good containers which you have got from shops while buying groceries. You can reuse it after washing and you can store spices or any other things as you like in those containers.
10. Buy certain things in wholesale which helps you to save money. Always keep a tab on prices of things in every shop you go. For example, Indian basmati rice is only $16 (20lbs) at Costco but the same is $25 in Indian stores.
11. Talk to your friends about shopping in whole sale and buying a Costco or Sams membership card. If your friends are already having it, they will be more than happy to take you along when they are shopping in those stores.
12. Avoid eating outside. Preparing at home is best. Having food outside once in a while is ok but be careful later it becomes a habit. Remember every penny counts.
13. Don’t buy things when it is advertised in sale. Think ten times before you buy anything. If it is more necessary and it’s a very good deal then you can buy things.
14. Don’t get attracted by cheap deals. Check with your friends whether it’s a good deal.
15. When you have time you can visit more shops and check the prices carefully and compare it with other shops.
16. You have coupons displayed in many websites which you can use it for price reduction. For example, if you want to go to restaurant, you have Restaurant.com website. Look in that website frequently to know where you can get the coupons.
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