How to save money? Wisely saving money can help grow and sustain wealth. The more money saved can allow you to take adavtange of opportunities to grow wealth.
Shopping
Price shop items
Checking multiple reputable sites could save a few dollars or even more depending on the item, so spend some extra time to check.
Check for discounts
Check for discounts in person or online, review coupon catelogs and check out when a sale is occuring to know when to wait. Even big realators such as Costco sending out their monthly broche.
Cash back deals
Check if your credit card has any cashback deals, that would be an addition to any other discounts. Adidas discounts are offered occasionally through some US Bank credit cards. Another 5% cash back on items that were already 40% off is another 3% saving (60% * 95%). Paying a total of 60% of the price overall and receiving another 5% in cash back of that bill.
Example:
Assume no sales tax.
Shoes: $150
40% off
150 * (1 – 0.40) = 90
The shopper would be paying $90, but with 5% cash back would be expecting $4.50 in cash back.
Saving Accounts
Shop around for accounts that benefit you the most.
Maximize money usage, let your money work for you. Depending on your financial situation dont let more money sit in your checking accout, instead atleast have your emergency fund to sit in a saving account to gain some interest.
Credit Cards
Credit cards can be complicated to understand, using their benefits are your normal spending can help save money.
Statement Balance
Make sure to pay the statement balance on or the before due date, especially before a weekend. No reason to have to pay fees.
Multiple Credit Cards?
Understanding their cash back and where to use them. Depending on your Credit offers 5% on utilities or 5% on amazon or anywhere else. This does not encouraging to spend more money but spend the same money in a different way to maximize benefits for oneself.
Read What is a Credit Card and What to Know to review the ins and outs of credit cards.
Utilities
Understand your billing, an example would be PG&E which does a part of California’s gas and electric. They have multiple options for electric usages there is a flat rate until you hit a certain number of usage. Peak hour plan, where the charges between 4pm – 8pm is higher than the rest of the day. Depending on what type of billing one has will adjust when to run the air conditioning, dish washer, laundry, ect… the items that can be ran overnight.
Depending on the weather, but during the summer many people deal with the heat and need to cool their house off. Checking the weather app to see the temperature outside compared to inside will help you know when to open windows and close them up to cool off the house.
Unplug
Unplug non-used items throughout the house or unplug after use. Items plugged into a socket will slowly trickle energy, a good example is a toaster. It will seem not worth the time to unplug and re-plug in, but an extra bedroom that is barely used might be worth it.
Deals
Check on your local utilities to see if you qualify for any deals, some utility provides offer deals based on income or medical needs. Ones that have medical devices, can sometimes be put on a list that can not loose electricty or to where they are the last ones loose electricty if theres an option.
Yard
Have a yard that is easy to maintain and does not take a lot of water. Rock-scaping yards, normally requires a small amount of water.
Food
Plan meals
Plan meals before shopping to lower food waste. Food waste can be a major contributor to wasting money. This has allowed my household to cut food waste on average $10 a trip, especially when we were just starting out trying to eat healthier.
Avoid over buying produce
Be realist about how much proce you need for you meals. Depending on how close you are to a grocery store, it is an option to go back for a quick stop.
Generic Brands
Trying different brands that might be cheaper for different items including frozen vegetables, the store-brand might have everything you need compared the big-name brands. Reading the back to check the ingredients to make sure it fits your needs.
Checking the cost for each ounce or each pound ect… how they may list it.
Stores may sell two 8 oz bags for $2 or sell one 16 oz bag for $2.05. Throughout time this might save you a little bit extra.
Portion Control
Ordering the right amount of food and eat the leftovers the next day.
Time
Understand, how much your time is worth and what the cost is get an item fixed. Time value, it might be cheaper to to pay somebody or do it yourself. Time is something you can not get back in life, so understanding what you value your time may be beyond montary value.
An example would be, moving your possessions from one place to another, you are most likely capable to do it. The question is though, do you have the time to do it or do you have the money to pay someone. If you have the time, but paying movers $500 and it will take them 10 hours, $50 an hour. If you work as a software engineer and make $100 an hour and instead can pick up an extra few hours, is it work your time to move the possessions yourself.
In conclusion, there are many ideas to save money finding which ones work best for you. Testing methods and being able to adjust their life will give an opportunity to save money.
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