With the current economic situation many of us are looking for simple ways to save us money. I’ve read hundreds of articles about money saving tips, but in my experience it’s normally the simple tips that are the most effective.
It’s important that when we save money, we make our savings work for us. We all know how hard it can be to save money so don’t just your savings in your normal bank account, open up a high interest savings account and watch the interest grow and grow. The more money you add into the account, the more interest you will gain.
In the US one of the best interest savings accounts is the LSA or Lifetime Savings Account, and if your UK based like me then it’s the ISA savings account. Be sure to do your research wherever you are based to find out what’s the best option for you.
When we’re out shopping is when were most likely to spend money, and many of us get carried away. We tend not to consider the long term implications of our spending before we buy a product and we should! Here are some simple and effective ways to save money that you could think about next time you go shopping.
Use voucher codes
Before you venture out to go shopping, check some voucher codes websites online to see if there are any deals that you could take advantage of. Before you go shopping you will probably have an idea of what you want to buy so look for some product specific codes that can save you money.
Check out deal websites
There are loads of websites that specialise in providing their visitors with product specific deals. If you know what you are looking for then these sites can be a great way to save some extra money and find some bargains!
Stay away from impulse purchases
Impulse purchases are those purchases than you don’t intend to make when you enter a store but you see a product and you just want to buy it. These purchases can really affect your overall shopping bill, and if you add up the price of your impulse purchases over a few months, it can equate to a serious amount of money.
Take a shopping list with you
This is a great way to try and avoid impulse purchases, take a shopping list with you, and include of all the things that you intend to buy and stick to it. By avoiding the expensive unnecessary purchases that you don’t need you may be surprised how much money you can actually save. Give it a try and see for yourself.
Have you had a search online?
More often than not a product will be cheaper online rather than in store and price comparison shopping websites are a great way to find the cheapest price. They will compare the main retailers for a specific product for you to find the best price; they basically do all the hard work so you don’t have to.
Use Twitter as a means to save
Most of the main retailers or deal makers will have Twitter accounts, and they will regularly post their best deals for their followers to see. Follow the companies that offer the products you are interested in and see if there are any deals that interest you that will help you save money.