20 Money Saving Ideas

The habit of saving money is essentially the skill of spending less money than you earn. It can also be practical and enjoyable to review money saving ideas and follow through on them. When you consider money savings as a game, rather than a self-imposed discipline to survive economic challenges, it becomes easier to practice doing those things that make a difference. So how do you begin saving money every day? Here are twenty useful money saving ideas you can put into practice today.

1. Stay organized and pay your bills on time. By either missing payments or paying late, you accumulate late payment penalties. These are a total waste of money. You can easily avoid unnecessary expenses by organizing your bills when they come in and by marking your calendar when they are due.

2. Buy more stuff online. You not only save on time and gas, but you may also get the products at a cheaper price because online retailers have less overhead than brick-and-mortar establishments.

3. You can often get software free of charge for your computer. This is called Open Source software. Instead of blowing $279.99 on Microsoft Office Suite, get Open Office. Similarly, if you need Photoshop, save hundreds by getting GIMP free.

4. Buy energy efficient appliances. While these cost more initially, they cost less over the lifetime use of the appliance. They can be identified by the Energy Star symbol.

5. Use coupons. These can add up over the course of the month. Of course, you should only use coupons because you were going to buy the product anyway. Coupons are available whenever you shop. Retail establishments have them print out with receipts. They also come in newspapers and magazines. Often coupon books show up in your mail, too. If shopping online, Ebates gives you twenty five percent cash back. You can use it to shop online at stores like Gap, Barnes & Noble, eBay, and Target.

6. Bundle your telecommunications. When ordering telecommunication services, most providers allow you to pay a smaller fee if you get your telephone, internet, and television cable services from them.

7. Follow up on rebate tickets. Often rebate vouchers or tickets come with a purchase. Send them in and mark your calendar for when the date is due. Follow up with the company if they donít send you the check.

8. Buy refurbished equipment and gadgets. These are often just as good as new products, providing the same quality of service. While most people are familiar with refurbished car parts, a lot of popular electronic equipment can be purchased refurbished, too. For example, you can get a refurbished Mac computer, iPod, and iPhone.

9. A gas water heater is more efficient and costs less over the long term.

10. Ask for a reduction in interest rates. Some credit card companies will reduce interest rates to stay competitive. Sometimes, too, you can get a credit card with low interest and even those with 0% APR.

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