In today’s difficult financial times saving money has become something that most people need to do. This isn’t just about making big savings by cutting back on spending. Even a small saving on a regular purchase or an essential cost can add up over time. Here are 10 simple tips on how to save money:

1. Review your spending habits. It is important if you are serious about being a long term money saver. Review what you spend and look at ways you can save money. Do you really need to have newspapers and magazines delivered? How about that coffee? Once you start looking for ways to spend less you will quickly become an expert and really save money.

2. Establish a personal budget. This is essential for families and individuals. You will not be able to save money unless you know how much money you have coming in, and how much money you have going out. Stick to it.

3. Bulk is good. Think about shopping and buying in bulk. Always purchase generics when you can. Preparing food in bulk and in advance also gives you the opportunity to plan ahead and be more accurate in your budget. Buying in bulk is not only a good way to save money it is also a good strategy for coping with and surviving emergencies.

4. Make sure a sale is a sale. Do your price research before you commit to making an expensive purchase. You have to be sure the sale really is a sale and not a creative marketing strategy of the store to encourage you to spend your money without thinking.

5. Buy used. Sure, we all like to buy new. But there are huge money savings to be made in buying used. Look for ways to buy “as good as new” items and save money. Typical products you might consider : cars, clothes, electrical goods, garden and household item, etc.

6. Don’t carry excessive debt. Some debt in our lives may be essential. You will be able to save money every month if you make it an absolute rule to pay off your outstanding balance every month. If you can have the discipline to do this you will save money by effectively having no debt, and thus no interest charge on your credit card(s).

7. Automate your savings. Each week or each month get into the habit of putting an amount, however small into your savings. You will find that by saving money on a regular basis you will quickly build up a reserve and will feel motivated to save more.

8. Shop Wisely. Consider markets, superstores, farmer’s markets, local shops, marts and stores. Anywhere is worth checking out to see if you can save money. Use your bulk buying strategy at the farmer’s market. Farmer’s markets often offer opportunities to save money by buying larger quantities of staples, for instance potatoes, rice or corn and buying later in the day since all vendors want to sell their inventory. Consider coupons and sales specials especially around the Holiday Season or End of Season sales.

9. Eat in rather than out. This is a huge area where you can save money. A cup of coffee taken out could easily cost you TWENTY times (or more) what it would cost you to make it at home. So think before you drink (or eat) when you are out.

10. Use less. If we could all use and consume less there would be less waste, power consumption, and the benefits for you are SAVING MONEY. Turn the thermostat down or put on extra clothes when you are cold. Turn off lights, the TV and the computer when they are not in use. Each little saving you make will build up and enable you to save money. Huge savings in energy can be made which will save you money and our planet.

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