Student Financial Advice

Ways to Save Money

Here are some tips I've compiled on ways to save money. Some of them are great and easy ways to save money. Others are still good ways to save money, but may require more sacrifice or take a lot of time to payoff. And remember, a penny saved is a penny earned. Every step you take to save money helps!

  • Spend less money than you earn.
  • Adjust your lifestyle to accommodate the first rule.
  • Create a financial budget to help you save.
  • Do not use credit cards.
  • If you do use credit cards, pay them down in full each month.
  • If you have a lot of credit card debt at high rates, look into consolidating your debt.
  • Lower your student loan payments.
  • Forego spending money whenever possible.
  • Lower your expenses.
  • Stop purchasing frivolous, impulse items.
  • Forego purchasing non-essential items.
  • Refinance your mortgage or debt at a lower rate.
  • Refinance your car loan at a lower interest rate.
  • Find cheaper insurance rates.
  • Use coupons to shop. (Here's another free coupon site to try.)
  • Wait for things to go on sale before buying them. Find catalog saving certificates here.
  • Don't buy anything just because it is on sale.
  • Occasionally buy generic, or non-name brand merchandise.
  • Wait for prices to fall before buying (applies especially to electronics items - like DVD players).
  • Reward yourself for saving money. Enjoy watching your debt shrink and your investments grow.
  • Drive used cars.
  • Reduce your auto insurance.
  • Don't eat out as much as you'd like to.
  • If you eat out, buy gift certificates for half price.
  • Buy discount magazines.
  • Do more activities at home.
  • Invest the money you save so that it earns money too.
  • Create a plan to save $100 per month (or as much as you can swing). Try never to miss the monthly savings payment and try to find ways to increase it to $150 per month.
  • Don't ever spend money just because you have it.
  • Keep your job skills sharp. Get a free trade magazine subscription.
  • Look into getting a better education. Click here to visit an accredited home study program offering associate's degrees, high school diplomas and career diplomas.
  • Stay busy - you have less time to spend money.
  • Find an inexpensive hobby to occupy your time and stop you from spending money.
  • Find a hobby that you can earn money doing.
  • Stop smoking.
  • Go on a diet and lose weight Not only do you save money on food, look and feel better, but your long term healthcare costs should also fall dramatically.
  • Look critically at how you spend and save your money.
  • Learn how to manage your finances by reading financial publications.
  • Increase the money you earn (second job, promotion, new job, through investments, etc.)
  • Don't try to compete with your friends and neighbors.
  • Don't try to compare yourself to your friends and neighbors.
  • Sell your car and take the bus to work (may not apply to everyone).
  • Contribute the maximum each year to your 401K or to an IRA.
  • Look for a higher paying job.
  • Buy Dental Insurance before you need it.
  • Buy Health Insurance before you need it.
  • Remember, paying down debt is also a way to save money (it saves you from a debt payment and gets you closer to having money to invest).
  • Lower your phone bill.
  • Lower your cable bill by ending pay channels or switching to satellite.
  • Earn extra money by filling out short surveys online.
  • Practice restraint.
  • Be patient.
  • Start saving money today!
  • Don't give up!

The next finance tips is about Investing in a New Frame Of Mind. Or go to Free Finance Tips.

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