Here are practical ways to save money.
1. Spend your money on what you need, not on what you want. Each time you go to the supermarket, prepare your “things to buy” list. Make up your mind to stick with your list. You will save as much as 15% when you make that little sacrifice.
2. Minimize dining out. Think about this: one pizza meal costs $40. That will amount to $320 in one month if you eat out just twice a week. In case you cannot compute that fast, it will total to $3,840 in one year. If you learn to control your appetite, that would be great savings.
3. Instead of using your car, take the public ride or organize a carpool. Public rides are oftentimes cheaper than driving your car. You can ride with others in your family who are headed close to your destination. According to financial planners, you can save as much as half your fuel expenses by taking the public ride or traveling by carpool.
4. Monitor the prices of fuel and other related products. Be acquainted with the news. Pay attention to the trends and movements. Gas up only when prices are down. Plan ahead. You will do well with around $20 of savings per month if you do this.
5. Buy your foodstuff in bulk. Most supermarkets offer discounts for bulk purchases. When you get home, apportion your meats and other stuff into individual servings. Keep them in tightly-closed containers and refrigerate.