Earn More Money By Saving

May 31, 2019
Most people find that they do not earn enough money. Is this the case for you? Actually, many of us fall into this category. It seems there is just never enough money. The problem is that since we are often overworked in the first place, putting in additional hours to earn those extra dollars is out of the question. There is, however, another way to make more money, so to speak, without lifting a finger.
Earn More Money By Saving

We all know the adage a penny saved is a penny earned. It means that whenever you manage to save money, it amounts to the same thing as earning that money. Would you like to make hundreds, possibly thousands more annually, and do so without increasing your workload? Following are a few tips to help you make significant savings in four different areas.

Savvy Grocery Shopping

Hundreds of dollars can be saved yearly just by modifying the way you shop for groceries. 

First, determine a grocery budget and stick to it. Then plan your meals according to weekly specials, make a list of the items you will be needing and don’t stray. 

Look for rebates, buy bulk items, and use coupons whenever possible. A word about buying bulk: keep in mind that it is not always less expensive. Same goes for bigger jars, containers, or packages. They are not necessarily cheaper. Be sure to calculate.

Finally, don’t go grocery shopping on an empty stomach. When we’re hungry, not only do we tend to buy more, but we buy things that we don’t need. 

Shop Wisely

Shop using cash only. This habit may seem tedious at first, but once you get the hang of it, you will notice that by the end of the month you will have spent far less than you usually would on groceries or clothing for example. The reason is simple: when you hold the money in your hands and see yourself giving it away to pay for something, you think twice before spending. 

Shop Around for Your Insurance

The cost of life, home, car, and health insurance can vary from one provider to another. Get various quotes. Make sure you have the right coverage for your circumstances, not too much, not too little. Also, if possible, raise your deductibles as this will lower the cost of your insurance payments.

Save On Utility Bills

Making just a few small changes in the way you use energy, will go a long way when it comes to reducing to the cost of utility bills. For example, you can effortlessly save several hundred dollars per year simply by turning off lights when you don’t need them, by lowering the thermostat of your hot water tank, by air drying your clothes whenever possible, and by loading your dishwasher to full capacity before running it.

There are many more areas in which we can cut costs to save money. Indeed, we’ve only barely grazed the surface in this article. But there is no doubt that if you apply these few simple tips as of today, by this time next year, you will have a few hundred dollars more, maybe even couple of thousand, extra in your bank account. Now wouldn’t that be nice?