We all like saving money, right? In today’s World, with the economy floundering, it’s not so easy to do. Commodore256 sent the following top five list to me, full of money-saving tips and tricks.
- Reward yourself for being healthy. – Do you smoke? If your answerer is “no”, then you’re in luck. You can save the money that you would have spent on cigarettes (roughly $5.50 per pack) and in one year, you would have saved $2,000. ($5.50 x 365 days = $2,007.50) You could save that for a rainy day, or just buy a excellent computer or go on a vacation. If you saved this money over ten years, that could pay for a brand new car.
- Avoid shady business dealings. – Stay away from Get-Rich-Quick Schemes, Pyramid Schemes, Multi-Level Marketing and Ponzi Schemes. If you ever get caught up in one of these scams, get some legal help.
- Set up an “Unplanned Emergency Fund”. – You’ll never know when a negative financial event will happen. When that time comes, you’ll need money fast. Examples of a negative financial event would include losing your job, childbirth, sudden illness or even an injury. I believe everyone should have an Emergency Fund.
- Use Credit Cards wisely. – When you get a Credit Card, only charge stuff on your Card if you can afford to pay it all off in one single payment. This will give you great credit, and you won’t have to pay any interest. If you’re already in debt, there are some non-profit organizations that can assist.
- Enjoy Cheap and Free stuff. – There are plenty of cheap and free alternatives to have fun. Examples: You could buy used instead of new, you could go to the Library instead of buying Books or Magazine subscriptions, or rent movies instead of going to a theater. You could also save $150 dollars by not buying Microsoft Office. Download and install the free (open source) Open Office instead.
What tips do you have to share with everyone that you use to help save you money?
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