How To Save Money When Things Are Tough

With the economic crisis we’re all currently going through I thought I would share several ways that could be used to save money. Sure we would all love to make more money but that’s not always possible so the only other solution is to reduce our expenditure and I would love to share some cost saving tips with you.

Debt Repayment

Most people would have a home loan and possibly one or two credit cards that have money owing on them. Heck, some may even have a personal loan as well! Facts are you can save heaps of money by consolidating all your loans together under one loan with one lower interest rate rather than several high ones. The trick is to shop around for the best interest rate with the lowest fees. It’s probably also a good idea to cut up your existing credit cards so that you don’t get into the same mess again.

Save Water

When trying to cut down on costs one should always look at their utility bills, such as water. Actually it goes way past saving money, one should also consider that saving water is also saving a precious resource. So what can we do to cut down on our water consumption?

Shorter showers: A lot of us use showers as a way of relaxation so we can lose track of time while having a luxurious hot shower. We can just stand under the stream of hot relaxing water letting the stress of the day wash down the drain. Shaving minutes of the shower can save heaps of water. I would also invest in a water saving shower head.
Other Water Saving Measures: When flushing the toilet use the old, ‘If its yellow let it mellow, if its brown flush it down. I even know some people who put a brick in the cistern to cut down the water used on each flush. Another water saving measure is not letting grey water go down the drain, using it for the garden instead.
Electricity: This can be a real killer, especially the way electricity costs keep going up so cutting back on its usage can put quite a bit of money in your pocket. Insulating your home would be the first step as this would cut your heating a cooling costs dramatically. Pulling heavy curtains closed and sealing your home against drafts also helps. When buying electrical goods try to buy the moss efficient that you can afford. Turn off the lights and stuff when you’re not in the room. Don’t leave TV’s and other electrical equipment on standby when not in use, turning them off instead.
Grocery Shopping: I don’t care what anyone says, there’s nothing wrong with buying generic or home brand products. Most of the time they’re as good as the main brands. Another good tip is when something is on special buy more than you need but only if they have a long expiry date.
Home Maintenance: Wherever possible learn to do your own maintenance around the home as this can save you a fortune.

Truth be told there is way too many cost saving measures to include in one post, which is why I have included some further resources.