Money Saving Tips

Keep More Money in Your Pocket

Money saving tips are simply sayings to keep in your mind while shopping.

Spending Tips are offered by advertisers on TV, radio, and newspapers. Their spending tips will cost you money.

Money Saving Tips are not something most people leaned in school. Most spending tips are provided by advertisers so you see, desire, and buy a lot of useless merchandise.

Spending Tips from Advertisers

Here is what advertisers say --
and what they want to see.

Save 30% only until Thursday.
Sale ends Sunday at 4 PM.
You only go around once in life.
You'll be happy with your purchase.
You'll look good in this new model.
Watch their happy faces when you give the very best.

With these spending tips you'll be sure to spend too much. You will buy too many things you don't need, didn't really want, and will be sorry you purchased.

What you need to remember as you shop are your own money saving tips. Money saving tips that work for you, not the advertisers.

"What Money Saving Tips am I Thinking About?"

Picture yourself about to pick up something to buy. What are you thinking?

This is important. Stop. What spending tips are going through your mind?

If your thoughts were the "spending tips" of advertisers, then they were not your thoughts and plans.

Just like a successful business, you need to make decisions based upon your goals and priorities, not someone else's. Especially not an advertiser (who is really a salesman for a product).

Here are some spending tips you should have in mind when you go shopping. They will save you money and help you stick with your personal plans.

Important Money Saving Tips in the Buying Process

Money Saving Tip 1:
Simply ask yourself, "Why am I buying this?" Reflect on your own thoughts. What motivates you into buying this item? Is there a real need for the product or is an advertising slogan going through your mind?
Money Saving Tip 2:
Before you buy something, think "Wait a week." Except for food and gas, this really helps. During the next week you can reevaluate your desire for what you thought you couldn't live without. If you still believe you need it, purchase it only when you have enough cash to pay cash or pay off your credit card in the next billing cycle.
Money Saving Tip 3:
Look over your budget plans and ask, "Is this in the budget?" Every successful business has a budget. Think of yourself as a business that is trying to make more money than it spends. Sometimes you delay buying something because it's not in the current budget.
This means you have to plan. You'll have to make a shopping list -- and stick to it.
Money Saving Tip 4:
Consider "Will there be a long term benefit or simply a short term moment of happiness?" A business buys an item because it helps the business to prosper over a period of time. You should see a long term benefit from the purchase for you and your family.
Money Saving Tip 5:
Finally, consider "What are both the benefits and disadvantages of buying this item?" Think about the good things the item will produce in your life. Then think of the less pleasant side effects. Really think about these effects and decide if the item is in your best interests. Consider the benefits and disadvantages from both a short term and long term perspective.

You may be the victim of the media's spending tips. You may already have accumulated a mountain of debt.

Too many credit cards and too many sleepless nights are not the right way to live.

Consider cutting up some of your credit cards so your won't use them again. Then pay cash when you need something.

Yes, the best money saving tips may simply be to spend less-- just like the millionaires.

Millionaire Spending Tip: Be Frugal

The simple fact of wealth accumulation is expressed by the three key words from The Millionaire Next Door: The Surprising Secrets of America's Wealthy.

The Millionaire Next Door:
What are three words that profile the affluent?

FRUGAL, FRUGAL, FRUGAL

In other words, don't live beyond your means. In fact, live below your means and save, save, save.
You've heard the saying A penny saved is a penny earned.
That was true when Ben Franklin was alive. But, no more.
After 1913 and the passage of the 16'th Amendment to the U.S. Constitution allowing income taxes, that is no longer true.
A penny saved with worth much more than a penny earned.
If you save a dollar through not spending or getting a good deal, you have an extra dollar to invest or spend.
You would have to EARN at least $1.50 to get $1.00 of spending money. The Federal income tax, Social Security (FICA) taxes, and state income taxes take at least a third of your earned money.
Now, A penny saved is much more than a penny earned.
Do you see why the best money saving tip is to be FRUGAL?

Your best money saving tip for extra money:

Pay off debt with the highest interest rates first. Your extra payments will work harder when reducing high interest rate debt.

Best money saving tip for credit card debt:

Replace all your high interest credit card debt with a consolidation loan at a lower interest loan. One single payment, lower interest charges, and progress in becoming debt free can help you sleep better at night.

Next Step
Consolidate Your Credit Card Debt

One of the best things to do to help reduce credit card debt is to reduce overall expenses.
One expense most people can easily reduce is their long distance bills. The big telephone companies charge high rates. Now you can take advantage of lower rates. Click here.

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