Saving Tips

We all know how important it is to save money for the future. Nobody wants to be stone-broke during emergencies such as sudden illnesses, hospitalization and other emergencies that require cash. It is also a bummer when you can’t go to those impromptu vacations organized by friends because you don’t have money to spend. I know saving is easier said than done. But with a bit of focus and discipline, you can save for your future and sleep soundly at night. So get rid of those extravagant spending habits and follow the tips below.

Set your saving goals. Whether it is saving for your children’s college funds, for a grand vacation or retirement, put your money in a savings account or a money market mutual fund.

Pay your self first. Take out your savings first and spend the remaining balance. This will help improve your saving habits.

Use a direct deposit savings. It will be easier to save if you have no control over the funds and it is directly deposited in your account.

Shop wisely. Cut down on the impulse shopping. Before spending on unnecessary items, ask your self, "Do I really need this item or do I just want it?"

When you do have to purchase something, try to use cash instead of credit cards, so that you can avoid the finance charges on your daily balance. You can use the extra cash to add to your savings.

Eat at home. Lessen the habit of eating out. If you can help it, eat out less and use what you have in your kitchen to make creative dishes. You should see a significant difference, in your savings.

Try to be consistent with your saving habits. As my friend Shawn Umsted always says: “It doesn't matter how much or how little it is, just remember to save something.”

Grocery Shopping Made Easy

Grocery shopping can be a harrowing and exhausting task: going through the maze of shelves, facing the risk of picking up items that you really don’t need (compulsive shopping), forgetting to pick up items that you actually need, and queuing up to the cashiers. If not properly planned, grocery shopping can be a total waste of time, energy and money.

To make trips to the grocery easier and relatively hassle-free, plan it ahead of time. You can adapt a weekly, bi-weekly or even a monthly grocery shopping schedule. The key is to get everything you need for the entire period with just one trip. This will save you on gas, time, energy and money.

Think of the meals you’d like to make throughout the period and list down all the ingredients that you need. Double check your pantry. Some items might already be available while other essentials might need replenishment. Bring the list with you to the supermarket and cross-out items as you pick them up. A list will get you out of the store faster and prevent you from spending money on things you don't need.

Buy plenty of frozen meals (take into consideration the storage capacity of your fridge, though), soups and even cereals at the store. You can keep these items in your home for a month or more without having to worry about them going bad. They’re also quick and easy fixes for breakfast, lunch and dinner.

Buy in bulk. You can save money on items like bath soaps, toothpastes and toothbrushes as they are offered at wholesale prices when you buy them in packs. And follow the basic rule of shopping: If your family won't eat it, don't buy it -- at any price! Even if you are tempted by rock-bottom prices, these products will be no bargain if nobody likes them.