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Frugal living tips: Saving money and avoiding debt

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Guest post by Stewart Bradley

Following the recent economic downturn which began in 2008, more and more people have been realizing the importance of saving money. With prices rising on basic items such as gas, fuel, electricity,groceries and other essential items, people are finding it difficult to make ends meet. During times of financial trouble, it is essential for people to know the techniques of saving money.

In case you’re jobless or have accrued an insurmountable amount of debt, you need to find out the areas to trim down your expenses and redirect that cash saved towards fundamental requirements (food, clothing, housing) or debt repayments.With some assessment of your budget and some wise steps, it’s possible for you to restore your financial situation to good health and learn some important lessons in how to save cash for your future needs.

Debt Consolidation Care logoDuring trying economic times, it’s truly essential to lead a frugal lifestyle. This is not just something that you can do occasionally; rather, it’s a complete transformation in your way of life. While people look at different debt relief options, they often ignore the importance of living a frugal life.

Keep a coin purse       

If you want to live happy on a strict budget, start carrying a coin bag. Many people get irritated while searching their pockets for change; they simply pay with big notes and end up getting more loose change than they require. Keep this change in a coin purse. If you still have problems paying with exact change, simply put the coins in a coin purse and pour it into a container when you reach home. Once the jar is filled, carry it to a coin counter at your nearest store or bank branch and swap it for cash.

Opt for a healthier lifestyle                                                 

Your health plays an important role in determining the amount of money you spend. One of the best tips to follow is to get back in shape. People who smoke, drink, or have poor eating habits, tend to splurge more cash than an individual leading a healthy lifestyle. Ironincally, low-quality processed foods and TV dinners are often more expensive than buying fresh food. When you’re in shape, you tend to eat a smaller amount of food. Once you stop drinking and smoking, you’ll be able to save a lot of cash on cigarettes and alcohol. Go for a walk or jog on a daily basis; these activities will not only make you healthier, but also save a substantial amount of cash on doctors and medicines. Trading expensive car journeys for travel by bike is a great way to save money, get fit and reduce carbon emissions.

image: dno1967b

Prepare simple meals

One single step that will lead to substantial savings every month is to cook your own food. Instead of eating expensive restaurant or take-out dishes, cook for yourself. You can also save by buying fresh vegetables, rather than processed meals or pre-prepared foods (e.g. potatoes that have already been peeled). Go for the foods which are nutritious and tasty.. If you’re a novice chef, don’t be put off;, collect different recipes from your friends and relatives or see what you can find with a simple online search. If you follow the instructions you can’t go wrong. Like with many other things, the more you cook the better you’ll get at it and the confidence you’ll gain will encourage you to attempt more exotic dishes

As the saying goes, prevention is better than cure. Instead of leading a careless lifestyle and getting into debt problems, it’s better to follow these frugal living tips and avoid debt. Visit the debt consolidation program for more info about solving your debt problems.

 

Stewart Bradley is a contributory writer associated with the Debt Consolidation Care Community and has written several articles for various financial websites. Though he holds his expertise in the Debt industry and has made significant contribution through his various articles, he has interest in money management, short term loans, bankruptcy, credit advice and more.

Money Saving Tips

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Saving money is not an art or science. It is a procedure that makes you understand that how to manage your money. It demands dedication and long term effort investment. Money saving can take time to be developed however if it is practiced with regularity, it can bring benefits too that will sustain for the rest of your life. To save money is under your control and it can carry you enormous benefits.

image: SeniorLiving.Org

Whether you are intending to save few dollars or pounds on shopping, traveling or on anything else you must start it right now with proper planning. There are many tips and ideas to help you save money easily and frequently. Spending less is essential if you really want to save money.

  • Try not to waste money and make purchases only if they are necessary.
  • Establish a personalized budget. You will straightaway see your income and expenses once you make your budget. If you don’t have an idea about the total income coming in and the amount going out to cater daily requirements you might not be able to save few dollars for you. Once you have created the budget of your income and expenses you will identify the key areas where there is a possibility to save some money easily.
  • Make a record of your expenditures. Whatever you save depends upon the amount you earn and the amount you spend. It is suggested that you should have a control on the amount that you spend in order to save money. You should critically analyze your expenses and list them down in order to keep a record of your expenses and the savings you have made.

image: mueritz‘s flickr
  • Get rid of the credit card, make all purchases on cash and exclude the use of credit card out of your life.
  • Savings should be your main concern. Deposit your saving amount into your bank account as soon as you get paid. The easiest and simplest way to save some amount out of your salary is to deposit a fixed percentage of your salary into your savings account every month. This works quite well and calls for a diminutive thought.
  • If you can afford to share the things you have, from food items to living utilizations, attempt to do so as well. What goes around comes around when it is flanked by close friends, before long, you will see your friends doing the same way, and everyone gets benefited.

Image: RambergMediaImages on Flickr
  • If you get some unexpected money, try to place all or maximum of it into your savings, then again, continue to set your regularly scheduled amount on the side as well. You will attain your saving’s goal very soon. Do not get discouraged or depressed because good things often take long time and the more you save the more benefits you can get. Just keep on investing time and effort in right direction and eventually you will get you actually desire for.