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How to Save Money the Easy Way

With the economy still struggling and many people still in very difficult financial situations, everybody is looking for how to save money. Unfortunately, many people don’t quite know where to start, as it is very difficult for most of us to prioritize costs and know where to spend, where to save, and where to invest. The good news is that these problems do not arise due to any shortage of opportunity – people who carefully plan and keep their eyes open can find endless opportunities to save in their daily lives. Here are some excellent money-saving tips which will help you keep more money in the bank.

Ignore brand names

This tip can apply to everything from buying new clothes, new appliances, or groceries. Those store brand products are usually just as good as the ‘name’ brands, and often sell at a fraction of the price.

Minimize Your Transportation, Minimize Gas Costs

While the best money saving tip would be to leave the car behind and choose public transportation, this is obviously not a choice which can be made in most areas. When possible, try to use your bike or even your feet. Instead of making the special trip to the gym, take a walk around the neighborhood. Remember, you are trying to save money overall, and every little bit that you don’t spend, you can save for later.

Cut Back on Bad Habits

Bad habits are expensive, and you are spending large amounts of money to sustain those habits. The average price of a 2 liter bottle is $1.50. The average price of a pack of cigarettes is $5. The cost for good alcohol is enormous. Minimizing, or even cutting out altogether, these bad habits will both save money and reduce the instance of the bad habit.

Get Stable Investments

The stock market is a roller coaster. The real estate market is in shambles. Give some thought to investing in gold, a more appropriate and stable safe haven for your money.

Sell Your Stuff

Many people have attics, basements, and storage units that are positively crammed with goods that are just collecting dust. Have a good garage sale, look toward one of the selling sites, or simply sell some of this to friends. You’d be absolutely amazed with the amount of money that you can earn, and you’re clearing the way to a more minimalist, frugal household. If you clear out your storage unit to the point where you don’t have to have it anymore, that’s an additional savings per month.

Keep your eye out for coupons and deals

There is nothing so tasty as a meal which is bought with a coupon. There is nothing which reads better than a book bought at a significant amount off of the list price. Keeping those deals in mind is easier than ever these days – there are sites, apps, the tried and true local papers, and more which have the frugal person in mind. Before you purchase something at retail, think about the deals which you can get on those products.

Photo is courtesy of Epsos.de and is used with permission under the Creative Commons Attribution license.