5 Creative Ways to Save More Money

by Fox Symes on April 15, 2014

Is your financial situation incredibly tight and you’re looking for ways to save even more money? Tried every saving tip in the book, but still looking for ways to be more frugal? Look no further; here are five rather creative ways you can keep those pretty pennies in your bank account.

1. Don’t shop adopt

For non-essential purchases, set yourself a challenge to not buy anything new for a certain period of time. This will either force you to hold off on the purchase or rethink it altogether. It may also encourage you to buy second-hand, borrow something from a friend, rent or repair your own items. Start heading to flea markets, garage sales and online second-hand retailers. You’ll not only save your money, but reduce landfill by reusing unused or unloved items.

2. Swap your stuff

Swapping fashion items and almost everything else, has become incredibly popular. You can swap informally through your own network of family and friends or through various swapping websites.

3. Reduce energy and water consumption

Energy and water rates are only heading in one direction; upwards. Stay ahead of the game by identifying easy ways to cut your use and watch your bills decline. Divert your water from baths and showers to water the garden, time your showers, install LED lighting and turn off appliances when not in use. All of these things add up and in many states across the country, there are government funded schemes to help you identify and reduce your energy and water consumption.

4. Review your transport options

Review the types of transport you use and how much you use them. Are there any opportunities for you to swap a train ride for a walk or ride? Can you shop online rather than visiting the shops? Do you need to travel at all? Also, if your household runs more than one car, critically assess whether this is necessary. If not, sell your second vehicle and save a bundle on petrol, servicing and repairs, registration and insurance.

5. Reduce opportunities to spend

People who work in remote locations are generally great at saving as their opportunities to spend are limited. Why not pick up a casual job on Saturdays or in the evenings or even volunteer for a charity? You’ll cut down on the time you have available to go to the shops, eat out or other spending traps you’ve fallen into.

You’ll be surprised at how all these little things add up and how much more money you’ll save. Once you’re in the frugal mindset, you will probably start identifying even more ways to hang on to your cash and get your finances in order.

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