Haven’t you ever wanted to know the secrets to saving more money? Wouldn’t you like to be more conscious of where exactly your income is going? Well, these secrets lie within the realm of common sense. Most personal savings tips involving saving money may seem self-explanatory, yet many fail to implement these strategies into their lives. What exactly is it that makes saving money so difficult for many individuals?

bills and savingsThe reassurance of having extra cash stashed away is a thought that puts many people’s minds at ease. Not knowing what steps to take when striving to save more cash can be a major obstacle, however. Financial planner, Jeremy Vohwinkle, gives insight on how you can carefully keep track of your money and budget your savings. For example, you should treat your savings account like any other bill you may pay. You would not skip your electricity bill, so why would you skip putting more money into your savings account? This ensures that there will be a consistent flow of cash into your bank account. You should also make sure that you don’t spend more money than you have. This often occurs when a credit card charge goes over the balance you have in your account. Even if you only go $10 over your balance, there is often interest involved in credit card accounts which will cause you to be even more in debt.

Managing your money in a more conscious routine is one definite way to produce immediate results when trying to increase your savings.

Smaller tips, however, can also go a long way when trying to save a few bucks. There are simple and quick guidelines you can look out for to start your money-saving process. The Simple Dollar provides a long list of lifestyle adjustments that can help you put more cash into your pocket.

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Make sure that you are placing your money in a bank that you trust. If you feel uneasy about the company that is holding your money, you might want to consider switching to a place where you can feel safe about your money. You should also have a good relationship with your credit card companies. You may even want to ask your companies for an interest rate-reduction because even a small reduction can save you $150 a year.

not watching tvDecreasing the amount of television you watch or eliminating television completely, can definitely save your electricity bill. Even though watching television is a relaxing way to wind down at night, there are other less costly activities you can immerse yourself in. Other ways to save money and energy include turning off lights when not in use, switching incandescent bulbs for LED bulbs, and installing programmable thermostats.

Looking into more fuel efficient cars can end up saving you money in the long-run. High gas prices these days are a problem that an increasing number of people are concerned about. A car that has better gas mileage can get you back some of the money spent at the pump.

Try trimming down on hobbies that don’t really mean that much to you. Certain activities can be very costly, and it is wasteful to spend money on products that you won’t realistically use that often. The key is to get rid of things that you don’t need. This can apply to other elements in your life such as unused magazine subscriptions or a gym membership that you are overpaying for.

Shopping is often a terrible temptation that can definitely cut into your savings. One useful piece of advice is to follow the “30 day rule.” When you are thinking about purchasing an item, wait 30 days and see if that item is still something you are interested in purchasing. By following this rule, it will be easier to avoid these impulsive purchases. To escape hasty judgments when buying something, it might also be useful to leave your credit cards in a safe place in your home. Keeping credit cards in your wallet makes them easily accessible and convenient to use when you are out. Another way to maintain savings is to get full use out of the items you do decide to buy. Repairing clothes with rips or tears is a good alternative to spending money on a new outfit. Looking in your closet and deciding what you actually need might persuade you to not over-spend on clothing items as well. Mixing and matching your clothes is a strategy that ensures you get the most out of the options you have to wear. This way, you will not have to purchase as many items to fill your closet.

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Woman checking food labellingThe grocery store is another location where you can shop in a smart and efficient way. Look for items that are on sale or goods that can be bought with coupons when you are shopping for groceries. Looking for generic brands can often be cheaper and save you more money. Buying in bulk can also come in handy when you need to purchase non-perishable items such as paper towels, toilet paper, water, etc. Because these are items that are constantly in demand, when buying in bulk you won’t have to worry about making multiple trips to a store for the same items.

Food, in general, is an area in your life where a lot of savings can arise. Making the most of your leftovers is one way you can save money on a meal. Taking your own lunch to work also keeps you away from places to eat where you could potentially spend more.

You might think that signing up for rewards programs is a total pain or a complete waste of time, but they can actually save you money if they do not come with a charge. It might be helpful to create a separate email account for this reason. This way you won’t feel bombarded by junkmail and can access that account only when you know you are going to buy something from that establishment.

Dinner PartyPeople often find it difficult to think about savings in social settings. There are often many pressures from friends to spend a little more money than you normally would. Giving out homemade gifts versus store-bought items is a way you can avoid spending too much money on a gift or showing up to a party empty-handed. Friends often like more personal gifts that they can actually get use out of anyways. Having people over for dinner or drinks can also keep you away from spending too much money. Going out every weekend can be expensive, and inviting friends over is a way to have fun without worrying about the never-ending cash flow.

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Being open-minded to learning more tips about saving you money is something everyone should do. If you make an effort to put these techniques into use, you should have no problem with building your personal savings. It is time for you to take control of your own cash!