Sunday, 12 June 2011


 Saving a portion of what you hardly earn is as essential as having decent meals on the table.  Even millionaires do manage their financial resources competently and do not just spend a penny for nothing.  To the working class like myself, it is more relevant to save as much as possible especially at these times when everything goes up but the salary.  No one is exempt from the frustrating effect of global inflation and recession. 

Yet indeed, to save money is awfully difficult. You must shake up lifestyle and think about expenses according to priorities, learn to distinguish ‘what is needed’  from ‘what is wanted’. In the process, it could be so stressful and frustrating. But could there be any better option? It would be more grieving to find yourself deeply broke whilst the bills continue to pile up. It is a matter of ‘saving for the rainy days’.

I learned to save when I got married which is understandably so.  The priorities and outlook in life have changed a lot. Before, it used to be just ‘ME’, but now it has to be ‘US’, and that completely influenced the way my wife and I manage our finances.  It truly takes a substantial amount of giving up from many things, which at times, inevitably, triggers arguments and not so amusing discussions.  However, what is important is you are able to patch up things before sunset and smoothen out main concerns. Do not get me wrong, we don’t have much savings in the bank. But at least we become confident that we used our money rightly and we learn how to be sensible consumers.
I believe there are no secrets to save because everybody can do it. Perhaps the only disparity is the level of will power and faith that it is possible without compromising the necessary. So how do we save at home? Maybe the list below will not hold true in your situation but most probably, it does provide general tips to save.
Review the Bills. Spend time to sit down, grab a pen, and write down all the bills that you pay monthly. Are all these necessary? If not, tick those that you believed need reviews and rethinking? Electricity, water, and gas are things you cannot live without but if you have the option to transfer providers that charge less, then it is wiser to shift to cheaper companies. In fact, there are promotional offers in the market for new costumers so why not grab them. There are websites that compare prices and these are available 24 hours online.
Check Insurances Again. You might be paying too much compared to others on the same services. Do not fall in love to one insurance company; there are many out there, which can take care of you better. Drop other insurances that do not really return the value of your money. Do you truly need insurance for your laptop?  How about for your mobile? Check again.
Food Shopping. This can be easier said than done. Food shopping eats a huge portion of your wallet especially if you have children with food allergy. But there is a way to save though. Make a list of the items needed before going to a shop. The motto is: Just list down what is enough. Wasting food is wasting money. Be particular at looking the expiry dates so you can avoid throwing items to the bin. Going to the grocery store without shopping list will certainly inflate the expenses because the larger tendency is for you to grab just anything gorgeous to your senses.  
Save Petrol. Maintaining a car is so expensive and if you are driving everyday, you are simply blowing your money away in the form of carbon monoxide. Yes, it is necessary to use your car to go to work and to take your family out. But if your workplace is only 5 to 10 minutes away by walking, then you can save much by reaching there under your own steam and exercising at the same time. Moreover, it is wonderful to help decrease the daily emission of toxic gas.    
Eating out and Take Away. There is a lot of savings if you cook at home rather than eat at restaurants or food chains. You are paying not only the food but also the venue (or the ambience). In fact, there is no substitute for a home made meals. If you don’t know how to cook, there cheaper cooking books to learn from. Eating out is no wrong, but in order to save, do it sparingly.
Avoid Signature Hype. You might think it will make you more fashionable and trendy if you wear high-end signature brands. That is not all true, so don’t be too hooked up with the hype. There are equally trendy items that you can get at reasonable prices. If you really insist, wait for the SALEseasons to get your stocks at cheaper tags.

Phone Bills. I am certain your friends and family members have got their own mobile phones so it is more economical to reach them by sending message, or calling them mobile to mobile rather than using landlines which charge higher plus the excruciating VAT. If you do long distance calls often, I recommend you to buy LYCA or LEBARA SIM cards and top up voucher if it is available in your area because it is very much cheaper. We used to pay £80 - £90 pounds for our monthly telephone bill, but now it goes down to just £20 -£30.

Take the Kids to Public Parks. There is no doubt that you love to take your children to theme parks and spend your day with them enjoying all the rides and amenities around. Nothing is wrong with that, but if the budget is too tight, why not take them to public parks where there is no entrance fee? Prepare sandwiches, crisps, water, juice and biscuits, and have fun for free.    

No comments:

Post a Comment