How Do You Save Money?

Add to iTunes | Add to YouTube | Add to Google | RSS Feed

Recently, I did a video with tips on saving money for gadgets… especially when you’re a teenager who can’t get a ‘regular’ job. This time, I’m going to give you some tips sent in by a community member for saving money in general.

  • First, and most important, put your money in that bank. Lets say its Christmas, and you receive $400.00 from your family. The next day, you have all that money in your wallet and go to Wal-Mart… only to see a really nice Xbox 360 on sale for $450.00. You buy it, and hardly play it. You’re out the Christmas money, and you are also negative another $50.00. Putting your money in the bank is one of the most important things to do when it comes to trying to save. Making an account where you are only allowed to take out $25.00 at a time will sound like a bad idea, but really be positive one in the long run. This is also a good idea because not a lot of stores will take Debit cards or will have a Debit machine.
  • Buying clothes is something that everyone has to do at some point in the year. But do you really need that $70.00 American Eagle shirt and those $100.00 pants? The answer is no. When buying clothes, especially when you are growing, it is best to go to a say, Wal-Mart. The American Eagle logo is on the belt area of their pants where no one can even see it. I have seen pants at Wal-Mart that look very similar and feel the same for $19.00.
  • Do you need whatever it is you’re buying? Sometimes you may be at an electronics store, and might have just received some money from work in cash. You see something that you “think” you want. When you buy it, you love it for the first month or two… but what happens to it after that? It’s going to be sitting on the shelf or in a drawer collecting dust, and if it’s anything but a Mac it’s not going to have a high resale value on eBay. Ways to prevent yourself from the temptation of buying it is to leave the money in the car or at home. Bring only as much as you would like to spend. If you know that you are going to be tempted to buy an electronic device then stay out of that store or aisle.
  • Buying food is another necessity of life. If you are like me, then you love food. Food can be costly when you have to buy everything once or twice a week. Ways to save money when you are buying food are easy. Look for coupons for like .50$ off of an item, or buy one get one free. Another thing that is really good to do is to buy in bulk. This is something that I will do often when I got to Costco. Buy your food from no-frills or other non-profit food-markets. You will still get your FrootLoops, but for almost 2$ cheaper.
  • Wait until Boxing Day. Waiting until after Christmas is one of the best things you can do. Boxing day is a really busy day, but you will save lots of Green. When I was looking for a Computer to buy, I noticed this HP computer for about 900$. I looked at the boxing day sale from BestBuy, and noticed that the price on the computer lowered by around $200, and came with a free printer. Waiting is the key to getting what you want. Also, wait for new things to come out like Chris did with his Mac Pro (Big Mac). Chris did the smart thing an waited. He could of gotten the older model for around the same price, but instead got a better one for the same amount.

[rsslist:http://shop.tagjag.com/products/shopping]

Want to embed this video on your own site, blog, or forum? Use this code or download the video: