Practical Guide to Families to Save Money on Daily Activities
In this article, we are discussing about
some of the best tips and practices to save money from your daily activities.
While preparing these tips, I have taken special care to not affect to the life standard of a family.
There are many money saving tips articles
can be found in this blog on saving money in different situations and through
different activities.
I am frequently updating ‘How-to save money” articles with this blog. This section combines a set of money saving tips for different situations and picked by researching well to suite to each situation.
I am frequently updating ‘How-to save money” articles with this blog. This section combines a set of money saving tips for different situations and picked by researching well to suite to each situation.
One can possibly save money from
any activities.
One major point to remember is, money saving is not an activity to save chunk of money within an hour or days. But, it’s a process by adding some perfect controls and rules to our life to get more clarity on our daily, weekly and monthly expenses.
One major point to remember is, money saving is not an activity to save chunk of money within an hour or days. But, it’s a process by adding some perfect controls and rules to our life to get more clarity on our daily, weekly and monthly expenses.
Saving money through reducing or
controlling personal or family activities doesn’t mean to drop any regular plan
or life standard you or your family have.
Until and unless, you are not working hard to become debt free, you can move further by maintaining present life standards intact.
Saving money means to identify the loopholes when dealing with money and control it.
Until and unless, you are not working hard to become debt free, you can move further by maintaining present life standards intact.
Saving money means to identify the loopholes when dealing with money and control it.
While practicing any of these money
tips, make sure to avoid any money saving rule or process being in place that
may make other family members unhappy by directly or indirectly affecting to
any facilities or activities they are enjoying.
Below are the set of well-studied, practical
money saving tips to save money from day to day activities:
Importance of Having a Budget:
Having a right monthly budget in
place, one can easily control the inflows and outflows of money. Budgeting not
only help us to identify unnecessary expenses but, gives a clear picture to the
future requirements and saving.
Save money from Facilities
1. You can still be luxurious but,
add control on anything not necessary. For Example, disconnect additional
landlines or hand phone connections to reduce bill and save money. Have a
policy on subscriptions of various services to family.
2. Identify any unused facilities
like additional internet connections, additional newspapers, books subscriptions
etc. One internet connection and one newspaper is sufficient. Cancel
unnecessary connections and subscriptions. Explore the lending possibilities of
books and newspapers than to replace subscription of the same.
3. If possible, try to get bundle
facilities like cable, phone and internet together. Such packages would help to
save money to a great extend as well as avoiding multiple vendors.
4. Cancel memberships with gym or
club that re not using or not a regular visitor to these places. Do not consider
such memberships are the part of showing status.
Possible savings from monthly service bills:
The most enhancing feature or a
family budgeting is, the person never run out of money for necessities. By allocating
money in advance to meet all monthly expenses, possible late payment penalties
can be avoided. Find some saving possibilities below:
1. An important rule: Never apply
for any service without collecting information on all available similar
services in the market and comparing to identify a best possible one.
2. Never delay paying your loan,
credit card bills as early as possible immediately upon getting the bill in
your hand.
3. Pay your utility bills like
water, power and gas etc. in the same day or next day as soon as the bill
arrived, to avoid possible fine and penalties on late payments.
4. Identify any bills that invites
penalties if paying after the free days. Never delay paying such bills
immediately after receiving the same, considering the countries you are live
in.
5. We have a well-maintained
tongue. Why don’t we use it to ask for any possible discounts or deduction on
bills related to credit cards, cable, internet, phone connection etc.? A simple
word some time gives us huge money saving possibilities.
6. Never give any money to banks as
fees or any special benefit you are getting from them, but not required for you.
Whenever dealing with bank, have a clear idea on the services and facilities they
are offering along with details of fees for each services.
Save money from utilities
1. Important point to remember: All
the members in a family should have awareness on this activity or your effort
will not succeed as expected.
2. Never keep any electronic items as
working or sleepy mode if not using the same. Power it off.
3. Use and get benefit from power
savers like LED lamps or the one with latest technology.
4. Install and take maximum
advantages from solar panels.
5. Maintain green home. Have enough
air circulations inside through right ventilation for summer and have enough
heat inside when closing ventilation for winter.
6. Never use power eaters like
electric heaters, water heaters etc. Point 4 can help you on this.
7. Iron boxes are one of the major
culprits to bring the utility bills to the next heights. Have practice of using
iron boxes once in a week than daily.
8. Maintain cooling of
refrigerators and always leave it as filled, to take maximum advantages from
the power utilizing to work. Do defrosting time to time to maintain operational
abilities.
Operating manual available with electronic equipment and appliances, would have information on how to maintain operational abilities. Read such manuals carefully.
Operating manual available with electronic equipment and appliances, would have information on how to maintain operational abilities. Read such manuals carefully.
9. Have a practice of switching off
the main or place a master switch to switch off all the electronic items when going
out. A master switch, controlling connections to all the major electronic equipment,
other than refrigerators, would be a good idea.
If in place, can control all the points, other than what you really want to work, in a single action during members are unavailable in the home.
If in place, can control all the points, other than what you really want to work, in a single action during members are unavailable in the home.
10. Maximize the usage of water.
Have wastewater management by converting wastewater to good purposes like
watering garden etc. It is possible to convert the wastewater to the toilets
too.
In any green home, facilities to collect the rainwater for daily use is available. Set controls to the water tanks and connections to control losing of water.
In any green home, facilities to collect the rainwater for daily use is available. Set controls to the water tanks and connections to control losing of water.
11. If an over tank installed and regularly
pumping water to it for home requirements, install tank with maximum possible
size to avoid frequent pumping and thus losing money on power. Interconnected
group of multiple small tanks also a good option to consider.
12. As a bonus, controlling usage
of electrical and electronics items between 7 pm to 10 pm and at least for 10
minutes would help to save lots of money. These are the peak hours with maximum
use of electricity.
Selecting this time to go out with family by switching of all lights and electronics also a good option. Refer point #9 for further. Maintain “a person an item” within peak hours. Whether a bulb, electronic equipment or other.
Selecting this time to go out with family by switching of all lights and electronics also a good option. Refer point #9 for further. Maintain “a person an item” within peak hours. Whether a bulb, electronic equipment or other.
13. Maintain vehicles in well
condition by practicing daily checkouts before start from home. This will help to
save gas or fuel to maximum because of maintaining right condition as
instructed in the operating manual by the vehicle manufacturer. As a best
practice, never share the vehicle with anyone else.
14. Have a practice of washing
dishes by hand, at least 3 times in a week instead of using a dishwasher. This would
save considerable money on electric bills.
15. Practice hand washing of cloths
at least in the weekends. This would give rest to the washing machine and
electricity meter too.
Saving money from home activities
1. Rule No 1: Never rent a service
for anything that can-do self. i.e. home
cleaning.
2. Maintain a collection of tools
for activities like small repairs inside the home, minor plumbing, electrical
work, pipe work, maintenance related to garage, garden etc., Avoid calling
service personal for such simple jobs.
3. Practice using quality items.
Using quality items never cost money by the means of regular service and maintenance.
Utilize the free services offering by the manufacturers.
4. Never purchase any items that
are not for regular use. Instead, check the availability of such items with neighbors
or friends. For example, mice trap.
5. Why do you want to go for wash cars?
This will be done free at the time of regular service or paying little amount
that taking it particularly to wash. Instead, wash self. If you don’t like to
wash, then park the vehicle outside. Snow or rain will wash better than service
centers can.
6. Have a right waste management in
place. Produce compost and use it in the garden. Save money from clearing waste
and buying compost.
Save money from shopping activities
1. Rule to remember: Have a clear
plan before starting for shopping.
2. Bonus rule: Shop only for those
items, not in the home or cannot be prepared at home.
3. Never buy electronics items in
the same day of launching. Wait for some time. Get opinion from people using
the items. New arrivals generally coming with big price tag and may later come down.
4. Utilize discount coupons and
purchase points intelligently.
5. If you maintain a vegetable
garden as hobby, no need to go out to purchase vegetables.
6. Weekdays are best for shop
owners to give discounts. So, plan shopping in the weekdays.
7. Identify the best shop providing
maximum discounts. Have knowledge on all shops and its price differences. Free
time visits are best to understand such.
8. It is best to prepare food
inside home than buying from outside. Avoid frequent eating out too.
9. Remember, buying large in
quantity is always economical.
10. Any item that is not for
regular use and not having resale value, select a good one from secondary shop
than buying as new.
That’s it. You can search and read
enormous number of money saving tips in the net. But it is difficult to
identify working tips. My promise, all the above tips are well working tips and
can practice by any person at any time.
Reality check with money tips:
1. No one in the world ever
practiced all the available money tips.
2. There are thousands of money
tips available everywhere but working money tips are very few.
3. Money tips implementation should
happen gradually. No money saving tips works at the same moment of
implementation.
4. Real savings of money means not
reducing your life standards but giving more clarity to life by identifying
right requirements and avoiding the one not required.
5. Unexpected money requirements
are everywhere. Consider having Emergency fund or other money source.
Wish you all the success!!