7 Characteristics of Successful Savers

canstockphoto15497150Do you consider yourself to be a good saver? Very few people often save enough money to maintain a reasonable level of financial security .Many seniors are forced to work well into their retirement years. Adopting great saving habits can make building your savings considerably easier. Making a few small changes may be all you need to have a bright financially abundant future.
Saving money will be a slow process at first and may require many years for you to see impressive results. Nevertheless, your habits dramatically influence your results over time.

You will become a successful saver by adopting these habits:
1. Successful savers pay themselves first. It is natural for our instincts to steer us in unproductive directions. Many people feel compelled to pay all of their bills first before saving their money. It would be nice to avoid the mental burden of bills and other financial obligations. However, there’s hardly anything left at the end of the month to put toward your savings. Make a habit of saving a certain percentage of every dollar that you earn or receive each pay period.

Start out with 2% of your income if that’s all you can afford right now. Make an effort to increase the amount over time. Avoid spending this money at all costs!

2. Automatically save their money. It’s much easier and more convenient to simply have the money from your paycheck direct deposited into your bank account before you have the opportunity to spend it. There are many employers that are willing to split your paycheck and send a portion to a separate account on your behalf. This is one of the easiest ways for you to save money.
3. Learn to control their spending habits. The less money that you spend, the easier it will be for you to save. Review your spending pattern over the last month and determine if all of your money was well spent. Don’t be down on yourself if it wasn’t. Start monitoring your spending each month. Once you get the hang of it, you’ll be amazed about how much money you have accumulated.
It is reasonable for you to expect an annual return of 10% on your long-term investments. For every $100 that you spend today would be worth nearly $750 in 20 years only if it had been invested. Spending $100 when you’re at the age of 20 can cost you nearly $8,850 once you reach 65 years of age.
You should always shop with a grocery list. We’ve all gone to the store for a couple of items and came home with far more than expected. Before you leave home write out a list of what you need and stick to it.

4. Avoid getting into debt. Trying to save while in debt is similar to climbing a mountain and never reaching the top. Consumer debt is an obstacle that will make it difficult to achieve any financial goal. Anytime you’re unable to pay cash for any purchase, you simply can’t afford it.

Avoid accumulating any unnecessary debt unless it’s for an emergency or something that’s very important that needs to be paid for immediately.

5 .Set goals. Saving money is a lot easier if you have a clear picture of the reason. In other words “What is your why?” For example, saving enough money to enjoy a comfortable retirement or sending your child to college can help maintain your focus.

6. Stay on top of their finances. Most savers are aware of how much money is in their accounts and the amount of money they’ve saved and spent each month. They also keep a close watch on all of their income and expenses.

7.Take responsibility for their finances. They always pay their bills on time, stay out of debt and have an emergency fund for the future. They also take responsibility for all aspects of their financial life instead of blaming others.

As you can see, it’s possible to save enough money to secure your future. Creating good saving habits will enhance your results. By making a few minor adjustments, you can watch your savings grow a lot sooner than you’ve imagined. Start creating a budget and savings plan today!

How to Save Money

canstockphoto17525264Are you looking for ways to make your money grow? You may be thinking that it’s impossible to save, especially on your salary. The good news is there are a variety of ways to Save Money even if you’re living on minimum wage. Budgeting is by far one of the best ways to build your savings. How do you create a budget on your current salary? Here are a few strategies you can use to save yourself some money:

 

Entertainment

How much are you spending on entertainment each month? Do you go to the movies every week? Are you meeting with your friends regularly at your favorite restaurants or at the mall? If so, you should try a money saving alternative that may actually be a lot more fun.

If you’re going to the movies regularly, there is a good chance that you are spending more money than you think. After you’ve spent money on your ticket and refreshments your trip to the theater may cost over $20. You can save a lot more money by joining a movie rental club like Netflix. The cost of renting movies is significantly lower than taking a trip to the movie theater. This will also save you money on gas.

 

Invite your friends over instead of dining out. You all can take turns inviting each other over for dinner. Serving home cooked meals with juice, beer or a glass of wine is a good example of how you can enjoy a meal that will cost less than $25.

 

In addition to enjoying dinner together, you can add some entertainment by playing card games, watching sports or just reminiscing. This will allow you to enjoy time with your friends while you’re saving money. You will also have more freedom to do what you in the privacy of your home rather than being in a crowded movie theater.

 

Utilities

Household expenses can be very costly. There are a few ways you can easily save money by simply cutting back. The electric bill is one of the most expensive monthly bills. You can save money by making sure all of the lights are turned off if you’re not in the room, purchasing energy saving appliances and turning on the heater or air conditioner only when you’re at home. You can also spend less time in the shower or purchase an energy saving showerhead to help reduce your water bill.

Are you struggling to pay your cell phone bill? If your monthly bill is too expensive, maybe it’s time to change your plan. You can get in contact with your cell phone service provider and ask if they have cheaper rates available. Another option is to switch to another company. Prepaid cell phone services is also a great option. There are 60, 90 and 120 minute plans. However, this is only good if you don’t talk or text a lot.

Make sure to review your contract with your current provider to avoid paying a hefty amount to cancel the service.

 

What about your cable television expenses? If you have premium channels, then you’re spending a lot of money on your monthly cable bill. There is a great chance that you aren’t watching all of the channels. You can save a significant amount of money by getting in contact with customer service and ask to change to a less expensive package.

 

Insurance

Don’t forget to review your insurance policies regularly to ensure you are getting what you need. Whether you have life, homeowner’s, rental or auto insurance there is a good chance that your circumstances have changed from when you first got coverage. Go through all of your insurance policies to make sure that it suits your needs for the amount that you are paying. Compare prices in your area or search online for better deals.

 

Pay Cash

Always pay cash money for all of your purchases instead of using credit cards. Take enough cash to pay for the items that you need and leave your credit cards at home. This will prevent paying unnecessary money on interest charges.

 

You don’t have to make a six figure salary to save money. Start where you are, use these ideas and even come up with some on your own to get you on your way to financial prosperity.

canstockphoto13914507Are you constantly looking for different ways to save money but get little or no results? If the answer is yes, the good news is there are a variety of ways you can add hundreds or even thousands of dollars in your savings. Coupon clipping is one of the easiest ways for you to reach that goal. It is no longer known for something that your mom does nor is it something for you to be ashamed of. In fact, coupon cutting is a smart, savvy and an excellent way for you to save money.

Coupon sites have become quite popular in recent years. They offer everything from laundry detergent to clothing and even your favorite restaurants. With the number of coupon sites that’s available online, there is no excuse for you not to save money on your standard purchases.

This makes sense because coupons have become such an in-demand item, that there are so many online coupon websites to choose from. It can be tough to determine which ones are best from the coupons you really need. Here are 6 Best Websites for Online Coupons, how they work and what they have to offer.

Coupons.com This website offers the largest listing of supermarket coupons anywhere. It’s also very easy to use. All you have to do is find your coupon, print it out and you’re good to go. Before you do your shopping, ask the clerk or the manager do they accept online coupons since some supermarkets don’t accept them.

CouponCabin.com offers a variety of coupons from retailers and keeps the coupons  up to date. It also does a great job organizing coupons in an extremely useful manner. For example, you can browse “Categories” and click on the items you are looking for. You can also sign up for their weekly newsletter to stay on top of the best deals.

CouponMom.com Stephanie Nelson also known as “The Coupon Mom” has a website that offers the best brand appeal and consumer loyalty. There is a lot of useful information on her blog and email alerts on your favorite retailers.

SmartSource.com  taps into your local stores and supermarkets and offers both online and coupon deals for users to take advantage of. All it asks for is for you to enter your zip code and you’re good to go.

DealLocker.com offers printable and online coupons to save on clothing, office supplies and even airline tickets. It makes coupons and deals easy to find because it organizes the items by category. They also offer fun tips on their blog.

SlickDeals.net You should be warned that this website is a bit cluttered but you will find coupons and discount codes for retailers that’s not normally represented by coupons or coupon websites. The good thing about this site is that they offer a mobile application and you will probably be surprised at the items listed that can save you money.

These 6 Websites for Online Coupons are excellent places for you to save money on your favorite items. You can bookmark them or sign up for their newsletters to stay on top of the best deals.Before you do your shopping, make it a habit of visting these coupon sites. You’ll be amazed how much money you can save.

canstockphoto1710084What is the purpose of clipping coupons? Coupons are offered by many companies that want you to try their products. If you choose to skip out on these deals you are throwing away hundreds if not thousands of dollars down the drain. Here are some strategies you can use to get the most from cutting coupons.

The Sunday’s Edition of your local newspaper is usually full of offers for food and household products. The bottom of the ads usually have a coupon for you to cut out to help you save money at the checkout. Does that sound good to you? But, why are so many consumers avoiding them?

It could be that they are ashamed that people will think they are poor or will be labeled as being cheap. Clipping coupons is not a sign of poverty or too much frugality. This is beneficial to both consumers and manufacturers. It will save you enough money to add to your savings while manufacturers get tax breaks on their business when they have promotions like this. For this reason you should take advantage of it.

Are you in the category of consumers who have never used a coupon. Here are Four Easy Ways to Save Money at the Checkout.

Clip coupons for items you will use. Your main purpose is to save money on items you will consume. You should resist the urge to buy something just because you have a coupon. This is actually wasting money. Use them to offset the price of the items that you use the most such as bread, milk, toothbrushes, toilet paper and etc.

Use coupons with in-store promotions. Many grocers hold weekly sales. They include circulars in the Sunday’s edition of your local newspaper and in your mailbox. For example, if your grocer has bread on sale for a buck and a half, you can use the coupon from the Sundays paper for 50 cents off to save even more money. Some stores offer reward cards. It is free to sign up and you will find many brand name as well as generic brand items at low prices.

Search Online for coupon websites. Coupons.com and Coupon Suzy offer printable coupons for a variety of products. You can easily sort it by category. It is similar to using a coupon box that used to be in the grocery store, but it is a lot more organized.

Double the pleasure. If the supermarket is offering to double any coupon up to one dollar, make sure to shop on that particular day. You can save twice as much money on your favorite items. Let’s say you have a coupon for a free sample that you want to try. This is the time to do it without spending too much money.

You will reap some sweet rewards from clipping coupons. Go though your Sunday’s paper and junk mail and clip happily. Always check your coupons before you take the next trip to the supermarket so you won’t miss out on the best deals.

 

How to Survive a Job Layoff

canstockphoto3494698If you find yourself among millions of people that’s been recentlty laid off, you may not be prepared for the loss of your only source of income. Hopefully, you will be able to qualify for unemployment benefits to assist in covering your bills for the next few months until you are able to find another job. There is no guarantee that you will receive the amount of money that you’re accustomed to, but it will help to relieve the anxiety of not having an income at all. Here are some tips on how to survive a job layoff.

If you are currently renting and you’ve come to realize that you may not be able to have enough money to cover the rent, you can contact your landlord and ask for a short-term reduction. You also have the option to search for another location that’s more affordable. If you are a homeowner and find yourself in a similar situation, you may be able to refinance if your spouse is still employed.

Reducing the cost of your monthly bills can go a long way when it comes to saving money. If you currently do not have a programmable thermostat in your home, you may want to purchase one as soon as you can. It will pay for itself in the first month. You can significantly reduce your electric bill by lowering your thermostat before you go to bed or before you leave for work if no one is going to be at home. You can reduce the bills even more by turning off the lights if no one is in the room, taking shorter showers and lowering the temperature on the hot water heater.

If your monthly cable bill is more than you can afford, contact the customer service department of the cable company to remove some of the channels or go with a less expensive package. You may want to go with the basic plan until you return to work.

Another bill that you can reduce is your cellular phone. Find out if you are able to reduce your monthly minutes and cancel any added features until you are more able to afford it. There is also an option to go for a prepaid or pay as you go plan.

Always check your junk mail for the weekly sales. You should always plan your meals in advance so you can write out your shopping list and always stick to it. Generic store brand products are a great way to save money on some of the products that you regularly purchase. Budget your shopping to the bare minimum.

Reducing your cable, cellular phone and household bills as well as negotiating your lease with your landlord are some of the ways you can survive a job layoff. Many of us make the mistake of living beyond our means and don’t think about managing our finances before it’s too late. By learning how to save money on your monthly expenses, you will be able to survive until you find another job.

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