BASIC SAVINGS CONCEPTS

"A penny saved, is a penny gained" "A stitch in a time saves big patches. "

- Benjamin Franklin

These famous sayings sum up the many ways savings can contribute to your financial well being. You can save money for future goals and needs. By avoiding unnecessary expenses, and by spending less on essential items, you can save money. Learn how to save money for a house on a low income and tips for saving money.

You can save money by taking care of your possessions and not having to replace them. Learn if your salary is what you should be earning ?

Start by examining how much money you're spending. Is it something essential, something you can live without, or something you desire? Many things are a combination of desire and need. 

There are many ways to save money on everything, including housing, food and transportation to work. If you are looking for something like a TV, clothes, or a vehicle, think about how it fits in your budget. 

Can you afford the item while still meeting your needs? Are you able to afford insurance or an emergency fund? If the answer is no, you need to prioritize their needs before satisfying your wants. You might not be on your way to financial success if you don't pay attention to what other people are doing.

Stop using credit if you decide that the item you desire is not necessary and cannot be paid for in cash. Ask yourself these questions:

1. Can I use credit to purchase that item?

2. Can the item I bought on credit last as long as I am not paying?

3. Is the credit fee adjusted to my spending plan?

If you are unable to answer these questions with a definitive "yes", consider waiting until you have enough money to purchase it in cash. Or, at the very least, having a larger down payment or payment. You will enjoy the item more than the stress and worry that comes with paying for credit.

BUYING TO BUILD - COMPARE>> BEFORE YOU BUY

Shopping to buy is a great way to save money on the things you need. "Buy" means "to look at and compare products available for sale." We often say we will shop, when in reality we will be the ones buying. Shopping is about comparing and analyzing prices.

Services

Except for certain services, such as electricity and water, there is some competition among companies that are involved in the operation of the same company. You can help them to earn it. 

Compare prices when shopping for products, as well as most services like insurance, cell phone service, home phone, cable television, home repair, or Internet services. Research pricing, quality, restrictions, and other details when shopping for services. 

Do not sign a contract with the first company that you contact. Get quotes from multiple companies before you decide on the best offer for your needs and budget.

Products

Compare advertisements in newspapers and on the Internet from different supermarkets. You can see which store has the best prices for your food, or which commercial establishment or appliance store has the TV you need for less. 

You can shop around for groceries and appliances to find the best deals. You will need to know how much gasoline and public transport it will cost to get to each store. This will allow you to compare the savings you can make by shopping at different places. 

If you spend more than $ 4, you won't be able to save money on meat by shopping at store X. It may be easier to purchase some items online, especially considering current fuel prices. When shopping online, remember to add the shipping, handling and taxes.

Pre-Purchase

Before you make your purchase, you should do pre-purchase research or quote work on the item. You have many options for information, including consumer magazines, newspapers, and online portals offering rate and comparison services. 

Many companies have their own portals that allow you to access the information about the product price online. This allows you to do your research in the privacy of your home, or at your local library. About you to get you to buy. 

Do your research to find the best price for you to buy. Don't get distracted by fancy features you won't use often. Do not be tempted by the many "bells and whistles" that are available with appliances or services. You need to think about what is right for you. 

You will be less likely to feel pressured by salespeople to buy more than what you want. Do not be tempted by the many "bells and whistles" that come with appliances or services. You need to think about what is right for you. 

You will be less likely to feel pressured by salespeople to buy more than what you want. Do not be tempted by the many "bells and whistles" that come with appliances or services. You need to think about what is right for you. You will be less likely to feel pressured by salespeople to buy more than what you want.

You will also be able to save on precious products, time, and transport costs by getting a quote. Knowing what you are looking for and where to find it will save you time in the actual purchasing process. Shopping for a car, a washing machine or shoes? The price and quote comparisons will help you save time, money and stress.

SAVE UP BY SYNCHRONIZING YOUR PURCHASES

Everyone loves bargains. You can create your own deals for products and services by using synchronization. Many stores enjoy huge sales after the holidays and during the sales season. Wait until after Christmas to purchase the Christmas gift you are looking for. The price of that item will likely drop significantly if you wait. Most stores will have spring clothing on sale if you wait until June.

Synchronization offers savings on both products and services ! Advertised promotions offer discounts on cell phone and cable services. You may be able to get a discount if you schedule work during slower periods, such as holiday season. Ask your dentist if you can get a discount for scheduling the procedure on a specific date if you don't need emergency medical treatment. You won't lose any money by asking and you might get a discount.

Avoid using credit - you will not repent!

Once you've done your comparisons and gotten a price quote, you can decide whether or not to use credit to pay for the item. Credit card debts that are not paid in full are the most common and easiest way to get into trouble. 

Instead, use cash or personal checks. You can use your credit card to purchase the merchandise if you have enough money. You want to avoid accumulating a credit card balance.

It is human nature to spend more and buy more with "plastic" (credit card), because it doesn't feel real money. Restaurant wait staff know that credit cards can earn them higher tips than cash. 

You might think you're getting a deal, but if your credit card balance is not paid in full, the interest will increase the cost of your purchase , making it less affordable than if cash was used.

Cash is accepted at some gas stations and stores. Many discount stores will require cash. These stores often offer significant savings compared to regular shopping. So, putting your credit cards aside and using cash will help you save money. 

Spending less by using cash or personal checks is a way to save money, so you should try to stick with cash and checks. You can save credit for things such as your education or your home mortgage. .

SAVE EVERY MOMENT

To survive, we all need to save money. Everybody should have an emergency fund to cover expenses for 3 to 6 months. It should be kept in an account that does not require withdrawal penalties. 

In a 10-year span, 75% of the population may experience "emergency" expenses. However, if you have a plan, it will not be considered an emergency. People want to save money for retirement, education and a home. Social security and Medicare won't be enough to provide the lifestyle most people desire. 

This section will discuss specific strategies that can help you save and save more. First, let's talk about some strategies that don't work.

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