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Some Money Saving Tips

Written by Zigfred Diaz Tuesday, 22 December 2009 08:49

Its one thing to talk about how to save money it is another thing to actually do it. Taking action may probably be the hardest between both.

Its one thing to talk about how to save money it is another thing to actually do it. Taking action may probably be the hardest between both.

I am not saying that I am an expert when it comes to money savings. But I do have some experience in doing it. The following are some money saving tips that I have applied and I believe can be applied to your life too.

1.) Be electric consumption conscious - Considering that electricity cost is very expensive nowadays, this is probably one of the best money saving tips I could offer. By simply monitoring your electricity consumption, you could save a lot of money. All it takes is turning of appliances and lights that are not in use. Other measures include shifting to energy saving light. What we personally do is that we turn off our electric water dispenser and our refrigerator during the night time. Buying new home appliances certainly helps reduce electric consumption. It is a well known fact that new home appliances are more energy efficient than old appliances which enables you to save electricity in the long run. Our bill went down by almost 25 % when we started becoming more electric consumption conscious.

2.) Save loose change - Mom has taught me several money saving tips, but I believe this is one is the most important one she has taught me. At first collecting loose change may seem insignificant. But when it starts to grow, you will realize it's value. At one time the loose change I saved amounted to more than P 10,000.00. ($200.00 U.S plus)

3.) Recycle - This is a new program that I have started to implement. More than 3 months ago I instead of throwing away plastic, glass bottles and containers I started collecting them. Now I have 4 sacks of recyclable materials waiting to be sold. I am placing this in my garage and will be selling this at the end of the year.

4.) Not buying from the convenience store - Aside from the regular "convenience stores" Filipinos have small neighborhood convenience stores which they call as "Sari-sari" store. Normally, this are the stores where people buy stuff that they badly need. Doing this once in a while might be all right. But buying everyday needs in the sari-sari store is sure to cost you more. Sari-Sari stores buy their stuff from the grocery stores, making them more expensive than grocery stores.

5.) Eating out less - Among the money savings tips, this one is sure to save you money. Instead of eating outside why not bring lunch from home. Eating outside more will surely make a dent in your wallet. I am not saying that you can't eat outside. If you are a "leisure eater" and you are fond of trying out new restaurants, schedule your restaurant visits at least once a week or once a month.