Easy Ways to Save Money

Saving Money

The economic downturn is unfortunately and unavoidably affecting us all. Wouldn't it be great if we could lessen our regular outgoings? Well we  can.

If you think about it there are lots of ways to save money in these cash strapped times. Here are just a few suggestions:

Shop around for a new home loan. If you have a mortgage and you are not tied in to your finance company you may find that shopping around can get you a better deal. There are some fantastically low interest rates around at the moment so it makes sense to take advantage and ensure you have the best deal available.

Minimise credit card bills. One way to lower your monthly outgoings is to pay off those credit card bills. If you can't scrape together the funds to pay your bill look at moving to a new credit card that is offering 0% interest for as long as possible then set yourself the goal of paying off your bill before the 0% period expires.

Reduce your utility bills. It is likely that you are paying more for your gas and electricity than is necessary. Like your mortgage, it is worth shopping around for the best deal. While it can take a little effort you will find that there are some very useful websites and the result will be lower monthly bills.

Reduce transport costs. For many of us running a car is a necessity. but everyone can all make some savings in this area. Rather than buy your next car why not consider car leasing. Personal car leasing is becoming increasingly popular as people wake up to the benefits and savings that can be made. Car pooling is another way to share the cost of your work transportation. At the very least you could save on fuel by offering to give a lift to someone who must do the same daily journey.

Buy your groceries from a cheaper supermarket. The very same basket of groceries can be priced quite differently at various supermarkets. Make sure you are not paying too much by getting all your regular groceries from the cheapest source in town.

Do it yourself. Where possible do as much as you can for yourself. For example, rather than visit the car wash why not do the car wash yourself. Rather than take your car to the garage for a service why not do it yourself. Rather than employ a window cleaner, get out your bucket and sponge and do it yourself.

Cut out expensive habits. If you smoke then do whatever you need to do in order to stop. This is a no-brainer. Smoking is bad for your health, bad for your pocket and it can make you smell like an old ashtray? If you enjoy a tipple then try cutting down. Maybe limit yourself to drinking only on special occasions.

Holiday at home. You may be able to consider alternatives to your annual expensive holiday abroad. Staying at home doesn't have to be dull or boring. Take a week off work and pack your week with visits to museums, art galleries and free exhibitions. Wrap up in some good outdoor clothing and get out into the countryside or down on the beach for some nice long walks. While you may not be getting a Caribbean tan you will be saving a fortune while having a great time.

I hope that these simple suggestions provide some food for thought. While they may seem a little penny-pinching making savings in this way could make all the difference between hanging onto your home and foreclosure or repossession.