11 ways to spend less and save more

11 ways to spend less and save more

In the early 90s people used to save more money and spend less. When I was child, I remember my parents used to tell us to spend less, they used to be tough about spending money. Now the world has changed and the way of living changed. In this expensive world every one has to plan to spend money in the right way. There are many ways to spend less and save more money so that one can cope up with this expensive world. The ways are -

  • Purchase at discount prices: Nowadays the market is offering many things at discount prices. Make a plan before you buy any product, make use of the discount prices. For example if you want to buy electronic goods you can plan and buy them during Diwali, you get extra discounts during such sales. So in that way if you plan and time your purchases you can save more time.

  • Buy things out of season: You can buy things at a discounted price when it's out of season. For example buying winter clothes during summer, buying school stuff in winter or much before the school year starts.

  • Groceries: If you plan properly you can save more money on groceries every month. Make a list of items you need to buy and review it to remove any unnecessary ones and stick to the list when you go shopping. Don't be tempted about seeing offers and buy unwanted things.

  • Maintain a personal ledger: The best way to spend less is to start writing a personal ledger. If you keep a record of monthly expenses, it helps you to know where your money goes and where you are spending extra, so that you can reduce your spending by cutting on expenses.

  • Avoid window shopping: Always make planned purchases, otherwise it will lead you to spend more unnecessary money. For example, to avoid window shopping, you may consider window shopping as a fun activity but there are high chances that you will make unnecessary purchases.

  • Home Gardening: Home gardening is one of the latest ways to save money and a fun activity to reduce your stress. Growing some vegetables in your own lawn can save a lot of money in this expensive world and fresh vegetables.

  • Pay with cash: It is always better to pay cash, rather than a credit card or any other mode of payment. For example if you carry a certain amount for shopping you would know how much you can spend and you will not buy things that are not necessary.

  • Don't stick to brand name: Sometimes it is better to be flexible on brands that you use because you may find comparable goods at a much discounted price in another brand.

  • Find discount coupons: Before you go shopping, make a plan what to buy and search on the internet for discount coupons. Use them while you purchase.

  • Save on insurance: Check your monthly payments on auto, life, home or any other insurance. Look out for offers from competitors.

  • Avoid eating outside: Cooking helps reduce stress. So by cooking and eating home food, avoiding eating out saves lots of money and improves your health.