Some people are experts at saving their pennies, while others are better at spending it! We all know we need to do it. Getting started is often the biggest hurdle to overcome. Here are some easy ways to begin saving and some of them take only a few minutes. Their common thread is that they will save a significant amount of money over time and combining them now can hasten the savings.
Step 1: Turn off the television. Aside from saving energy, this results in less exposure to enticing product ads. It also provides more time for the family to focus on other household chores.
Step 2: Change from banks with high fees to those offering high interest rates. There is no reason to pay maintenance fees. Instead, opt for fee-free checking and savings accounts that earn high rates of interest.
Step 3: Enroll in free customer reward programs. These days, every place from bank accounts, to credit cards, to grocery stores offers some form of free rewards for customers. Sign up for them, even if you rarely use the services. They will provide discounts, coupons, or both when you need them. You can even set up a separate email account to manage these and avoid missing out on great deals mixed in with your daily emails.
Step 4: Rather than purchasing gifts at the store, make them. You can do this with things like dry food mixes, bread, cakes, cookies, soap, and candles. There are books with loads of crafts that you can make for under $5 or $10.
Step 5: If you are a collector, take inventory of the collection and see if it is a money sucker. Do you really need to keep buying those sterling silver spoons? With the rising price of silver, might you consider selling them for some extra cash?