Get Rid of Debt by Edna Ferman - HTML preview

REDUCE YOUR EXPENSES

P

eople get great thrills from spending money but no thrill at all from saving it. Some people consider savings as the amount of money that is left over after spending. Unfortunately, if you don’t plan your savings, it will never happen. By reducing your

expenses, you can save hundreds of dollars. Saving in all areas – is the key word.
AUTOMATIC Saving

The proven way of saving money is automatic saving.
Money is taken out of your earnings before you actually receive your pay check. It is automatically deducted or withdrawn from your bank account. As a result, you are unable to touch that money; it is automatically saved for you.

It is simple to set up this automatic saving plan and fun to watch your savings grow, as more money is added to that account every month.
You can save in many different ways, such as:

Š Buy items on special or at reduced prices (if you need them).
Š Shop around and look for bargains.

Š Ask for a discount. In today’s tough economy, even large shops will give discounts, such as 5 to 10% off items. Many people miss opportunities to get great deals because they don’t ask for discounts. Ask, “Can you do any better?” or “Can I have a discount?” Make it a habit to do so.

Š Don’t shop when you are hungry or upset. Statistics shows that hungry people tend to buy more than they need. Similarly, upset people tend to buy items they do not need at all.

Š Plan your menus before you shop. Be organized;plan a weekly menu and buy accordingly.
Š Plan healthy meals and buy food for your meals.

Š Check your pantry and fridge before you go shopping. Make a list; don’t buy what is already hiding in your kitchen. Get organized and reduce waste.

Š Reduce the amount of money spent on takeout food or dining out. Š Save money by shopping at cheaper stores.

Š Compare prices; not all shops have the same prices on the same items. By comparison shopping, you can save a lot of money.

Š Sell items you don’t need anymore.
Š Buy only what you need.
Š Don’t waste money; carefully plan your purchases.
Š Control your spending.

More Saving Ideas:
‘ Reduce your electricity bill by turning off lights when they are not in use.

‘ Use the clothes line when possible instead of the dryer.
‘ Shop around for good deals on mobile phones and calling plans.

‘ Reduce your phone calls to ensure you stay within your plan or budget.

‘ Don’t pay for services you do not use. Check your credit card and bank statements to find out which services are automatically charged to your accounts. If you don’t regularly use these services, cancel them.

‘ Stop smoking and drinking, and you’ll save significant amounts of money.

 

‘ Sell items you are not using that may be of value to others. ‘ Pay all your bills on time, in order to avoid late fees.
‘ Pack your lunch; don’t buy your lunch out every day.

‘ Save on custom coffee drinks, like cappuccinos;calculate how much you spend on them weekly.
‘ Improve your financial position by following through on the basics of good money management.

 

The “SURPRISE SAVING”

Cut back on your spending. Every time you want to spend but manage to convince yourself not to, take the money you would have spent and put it in an envelope. Write the word “SURPRISE” on the outside of the envelope. Add money to this envelope every time you manage to convince yourself not to buy something. The money in the envelope will grow substantially over time.

At the end of each month, check your “SURPRISE” envelope. Count the amount of money you have saved. You can decide what you will do with this special savings stash. Don’t waste it though. Use it to pay off your debts or save it for a special cause.