Money Saving Tips – 15 Practical Ones

Being frugal isn’t easy. It takes efforts and smartness to save a little amount every month. Here is a list of 15 practical money saving tips for people who intend to save real money.

1. Don’t wait for an opportunity to invest. Let it operate automatically. Ask your bank to invest a fixed amount every month for 401(k) or other investment plans.
2. Keep adding money in your saving account. This will earn you good amount as interest every month.
3. Aviod paying banking fees. Use your bank services for free to pay bills, checks, auto deposits, etc.
   
4. Don’t get simple credit cards. Pick the one that offers cash back facility. Over a period of time, you get a good return.
5. Keep searching for hot deals that can save you some money. Don’t buy any items without proper homework.
6. Use ceiling fans and table fans instead of air conditioners. They consume much less electricity than the latter.
7. Replace all tubes and bulbs with CFL bulbs to save energy. This is one of my favorite practical money saving tips.
8. Drive smoothly and at a constant speed. Of course, you have to slow down at many places. However, try to drive at a normal speed, without much application of brakes.
9. Plan your major purchases well in advance. Don’t purchase things during peak season.
10. Go for good quality products. Cheap goods may save some money. But those gains are temporary. Quality goods will last longer and save much money in long run.
11. Quite contradictory to the previous one in the list of practical money saving tips, buy a generic item wherever possible. By this I mean, don’t go for branded products when a generic one can serve the purpose, but don’t compromise on quality.
12. Start using coupons and search for stores that offer discount. You can start by visiting online websites like Ebates.
13. Stop eating out. If it’s not possible, at least try to reduce it. An average American spends a major portion of his income in eating out. Don’t be an average American, be smart, be frugal, cook and eat at home.
14. Eating leftover isn’t a disgrace. If you cook a dinner tonight and much is left after eating the dinner, take it for lunch tomorrow at your workplace.
15. Don’t buy DVD’s and books. Borrow them from the nearest library. You don’t really refer your books after you have read it once, so why spend so much unnecessarily?

Yes, I know that some of these practical money saving tips wouldn’t apply to everyone. If so, please ignore them. Applying even few can help you to save a good amount every month. Try it.