Money Saving Tips

People are always trying to save money, especially with today's economy. No matter what your reason for saving. The price of everything has gone up, requiring people to be more conscientious about money. The problem is that by the time the mortgage, car, utilities, and credit car are paid, there is little money to put aside. Saving money is not that hard, just a matter of learning all the different options and being creative.

In addition, to the obvious of putting money into a retirement fund or savings account, there are hundreds of ways to save money. Although some ways of saving may not seem like much, once you add them up at the end of the year, you will see how substantial the saving really are. Keep in mind that saving is more than a single lump sum of money put aside. Saving is something found in your everyday life by the way you live and the choices you make.

*****LIST OF SAVING MONEY****

1. Holiday Gift Giving
This tip is especially helpful for large families. Although it is fun buying for and receiving from everyone, it can be very expensive. Make an agreement with your family that you will continue to buy for the children but that the adults will go with a name exchange. This way the children are not disappointed and you can spend a little more on one or two people rather than spreading you money thin. For the member that you did not pick to exchange with, or bake a loaf of their favorite homemade bread or cookies.

2. Clearance
Always head straight for the clearance rack where you can find amazing bargains. Sometimes you may have to dig a little to find the right item but the saving will be well-worth you time. Most clearance racks offer variety, current trends, and great value. For example, Bed, Bath and Beyond has a clearance section where you can find all kinds of wonderful household items for a fraction of the original cost.

3. Reuse
When you shop, look for items that can be reused. Rechargeable batteries are a perfect example. Even though the initial purchase may be more that non rechargeable batteries, there is a definite savings over a long period. Another option would be to purchase a nice artificial Christmas tree. Many of the current artificial trees look amazingly real and with the right lights and ornaments, you can change the look from year to year.

4. Landscaping
If you are considering creating a nice flower garden area, shopping for plants even on sale, can be expensive. Before you go out and start spending, look around to see it you have other plants that can be split from your existing flowers. Additionally, if you have a good relationship with any of your neighbors, you might ask them if they have any plants you could use as a starter. Another grat idea is the next time time you are in the market to buy a lawnmower, purchase one that mulches leaves. This way, rather that buy mulch for your flowerbeds every year, you can simply use the mulch you make.

5. Budget
Everyone should create a budget. If you are not sure how or just not good with money, many businesses such as H&R Block, offer free financial consulting to help you put a budget together. Knowing where you are spending your money is by far the best way to save. In most cases, people have no idea where their money is really going and once they see it on paper, not only are they surprised but eager to change their spending habits.

6. Plan
Planning is a great way to save. Before you go to the grocery store, make a list and stick with it. If considering a vacation, plan everything. Heading out with no set direction will certainly lead you to impulsive spending.

7. Buy in Bulk
Is is true that warehouse shopping can save a lot of money. Even if you have a small family, you can always split large quantities. The price of items in bulk is generally a great bargain. If you are single, you might go in with friends of family on bulk items.

8. Allowance
Do not forget to give yourself an allowance for things you enjoy. Even if on a tight budget, buy something that you enjoy, which could be as simple as buying a new shirt or grabbing luch at your favorite cafe. If you do not allow yourself this small "splurge", you could find yourself in the same position as if dieting.

9. What Matter to You
Make a list of the 10 most important things in your life. Next to each item, rank them in order of importance using numbers 1 through 10. The purpose of this exercise is to help you see the things you consider the most and least important and to provide you with a visual of why you need to save. Some examples of things that a person might put on their list include new home, car, special trip, artwork, starting a business, or pay off debts.

10. Setting Goals
Break you goals into short-term, intermediate-term, and long-term. Being able to see your accomplishments is a great motivator for to work hard at saving. If you set a short-term goal of saving for tickets to the symphony and reach that goal, you will be encouraged to keep saving for the intermediate and long-term goals.

11. Be Realistic
When it comes to saving money, make sure the goals you set for yourself are realistic. If you earn $50,000 a year, saving $20,000 would be nice but it is very unrealistic. Make your goals attainable or you will never save.

12. Flexibility
Once you have set you goal for saving, realize that things can and will change. The secret is learning ways to be flexible. If you normally save $150 a month when something unexpected happens, you only be able to save $50 that month. This is fine as long as you focus on getting on track.