There are many ways to save money but a
lot people seem to find it hard to be frugal and continue with their current
ways of spending. The rising costs of necessities and the way the economy has sagged
are pushing more families to become penny-wise and stretch their meager
finances. Like most families, yours might also be clueless as to how you can
have a trimmer lifestyle. Here are five simple ways on how you can practice
frugality at home and at work.
- Monitor Your Expenses. The simplest way to being frugal is to
create an accurate costing of your expenses. This includes housing costs, utilities,
transportation and even your daily dose of coffee at the corner store. Many
people find it helpful to track expenses as it provide where exactly their
money goes. It also allows you to see where you can trim off your budget.
- Switch Your Current Accounts. One of the ways to get more out of
your spending is to use current accounts with incentives to join. Your current account today might not have
the same amazing deals such as cash backs and joining incentives. With less
hassle on switching and convenient banking as you can monitor your transactions 24/7 through mobile, online or telephone banking service, more people now enjoy better day-to-day banking with a no-fee paying current account.
- Use Coupons. Coupon websites and magazines are there for a
reason and that is to help you save on your basic expenses. Using grocery
coupons can actually save you plenty of cash especially if you buy in bulk.
- Use Public Transport/Do Carpool. Like there are many ways to
save on your groceries, you can also cut down on your transportation costs. Plan
your trip ahead and cover a larger part of your itinerary in a single go. You
can also do car pools for kids play school and other activities with other
parents or friends.
- Ease off debts. One of the reasons why many people suffer on
finances is because of debts that accumulate interest. Make sure that you pay
your mortgages and loans on time so that you won’t have to pay for hefty
interest rates.
Being frugal doesn’t mean that you will
live a life of a hermit, it only means that you are smarter when it comes to
your spending and that you are making the most out of your hard earned money.
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