The global recession is still holding many of us to ransom. Across the world people are experiencing pay freezes, pay reductions and massive cuts in public spending. On top of all this, the cost of everyday living seems to be spiraling out of control.
In this harsh economic climate we all have to make changes to the way we live our lives in order for our money to stretch further. I would like to share with you some cost cutting tips that many of us could apply to our own lives, and if you follow some or all of them, I am sure you will have save money each and every day.
Before I go through a few tips, I want to say that you should always look at the bigger picture when it comes to saving money. Saving a couple of dollars here and there doesn’t sound like a big deal, but when you multiply the numbers by days, weeks, months and years, you really do feel as though you are making massive savings.
Let me show you an example in my first suggestion:
1. Skip the morning coffee on the way to work. Maybe you’ve got into the habit of buying a morning coffee to take with you into the office. If that drink costs $2.00 a day, skipping it every day saves you $10 a week and $40 every four weeks, roughly $520 a year! If you can’t do without it every single day, trying reducing your intake to a more sustainable amount.
2. Cut down on take-away meals and home deliveries. This doesn’t apply to everyone, but eating food that you prepare and cook yourself, rather than paying someone else to do it, will save you plenty of money in the long-run.
3. Buy less. In the modern world materialism is rife. It’s part of the reason why the global recession is so tough for those who like to spend, spend, spend. When you are out shopping and see something you like, ask yourself if you want or need the item. If it’s for former, walk away, if it’s the latter, ask yourself if you really need it or can you get by without it for a little while longer?
4. Use of the off switch. This includes the TV, lights, computers and just about anything else that uses gas or electricity. Remember what I said at the beginning about the cost over the long-term? Energy is the best example of how you can save a lot of money by taking simple actions, like switching of a porch light or shutting down the laptop when you’re done.
5. Use the car less. People in the UK are paying more now for fuel than they ever have done, and most of the money is collected by the government in taxation. Walking more and using the car less will make you fitter and put more money in your pocket. If you can’t use your car less, consider buying a smaller model to reduce insurance, tax and other running costs.
There you have five very easy ways to save money. I hope you find something here you can take away and use in your own life.