Save to Grow Your Money

Don’t give away or waste away your hard earned money so easily. Take time to find ways and means to avoid spending money unnecessarily. I know for sure some of us do not like this task and may even feel that life is too short to deprive oneself of some luxuries after a hard day’s work. Yes, this concept in life is fine. I am not suggesting you to be a miser but merely to be more conscious of where your money goes.

Here is a checklist of my own experience and how we can all save without feeling miserable.

Your Transportation

• Check your tyre pressure every month. Most car owners and drivers know that fact that it is a “must” task but a lot of us do not do it regularly and punctually. We are always postponing this task simply because we are either in a rush or too lazy. Unbalanced tyre pressure cause more petrol consumption and also additional wear and tear.
• Park at free car park. This may not be easy in the city but putting in your effort to locate one may save you a big chunk of your daily expenses. You may have to arrive early and may even have to walk a longer distance but if taken positively, you are having multiple savings; save on petrol; walking is a good exercise; waking up early is a healthy habit; helps you avoid the usual jam and in a way reduce your stress level.
• Car pool. If you have colleagues living in your neighbourhood, you may just work out a schedule to car pool. This will definitely cut down your transport cost by half.
• Take public transport. It is definitely cheaper to use the public transport than to drive to and from work provided it is convenient to do such.
• Wash and polish your car on your own. Instead of driving to the car wash and get your car wash and polished. Do it yourself. Dual advantages; you save money as well as get the much needed exercise. Make this chore a fun activity with the family.

Energy-efficient Your Dwelling

Energy-conservation is not only environmental friendly (statistics showed that in UK, housing produces about 30% of carbon emissions), it saves you a lot of money as well. Take the effort to gradually convert your daily chore and electrical uses to be energy-efficient:-

• Use energy saving products. It may cost you more to buy energy-saving bulbs or lightings but in the long run you will save on electricity consumption and cut down energy cost. Buy energy-saving products like boilers, heaters, fridge, dishwashers and washing machines. Look out for the Energy Saving Recommended Logo.
• Conduct a home energy audit. Some of your electrical equipment may be old and leaking energy so an energy audit may help you identify what is causing your electricity bill to go up.
• Generate your own energy. Use solar energy panel for some of your electrical equipment. Initial cost may be high but if it provides energy for 50% of your daily uses, it will eventually save money for you.
• Join some energy-saving movement. Or attend talks on how to save and control the energy usage in your home. Put what you learn into practise
• Switch them off when not in use. Turn off the lights, fan, air-condition, heater etc. when you leave the room. Check to ensure all are switched off before leaving your house to work.

Food Shopping

These are some money saving tips on food shopping which I felt personally that allow me to save. Next time you go groceries shopping put these tips in your “Groceries shopping list”:-

• Purchase generic brands. Most generic brands usually contain about the same ingredients and nutrients as your favourite brands. Products like coffee, oil, rice are nearly as good but sold at a lower price.
• Buy fruits in season. Fruits that are out of season can be much more expensive and may not be as fresh as fruits in season. However, seasonal fruits may be higher in price at the beginning of the season and it is better to wait awhile before buying. My experience is that I bought 2 persimmons for $8 at the beginning of the season and after 2 weeks I could get 4 persimmons for only $6.
• Avoid buying imported brands. You are not only paying for the food you want to consume but paying for the freight and handling charges as well as tax imposed by your local government. Support your local economy by going local and save.
• Buy from your local markets. Do your shopping at the local markets instead of going to the supermarkets where the prices are inflated. In some areas, the markets are now open longer hours. It may not be as comfortable as the supermarkets but the foodstuff are usually fresher and much cheaper as you eliminate the middleman cost.
• Do not overstock. Eat up all that you have bought. Statistics showed that one-third of the world foods are being thrown away. This is definitely wasteful. Foods usually do not last forever, so only buy the amount you need and avoid overstocking.
• Shop Around. If you have to shop for non-perishables in supermarkets, go shop around for the best buys. Here you can stock up your one month’s need to avoid going too many trips. This will save you petrol, parking, time and even to prevent buying extras (what you really do not need).
• Make your meals at home. Cooking your own simple meals at home is a much cheaper alternative to eating take-away or eating out. Pack lunch boxes (sandwiches and fruits, fried rice etc) for the kids as well as yourself to your office. Eat in restaurants only on celebrations, this will make the occasion much more special then eating out all the time.
• Use leftovers. Use your imagination to cook up new dishes from leftovers. I use left-over meat to cooked up “Shepherds” pie and fry the left-over rice. Its delicious and cost saving and food are not thrown out adding to the landfill and go wasted.

There are more ideas to share but I think I am stretching a little. What I am trying to stress here is that you can really save a whole load of your money if you ever stop to think of the wastage you have done thus far.

I like this simple phrase “BE BOTHERED”. Take charge of your life, take charge of your money, don’t waste it away. Practise the above suggestions and put any savings into a used tissue or shoe box (no need to waste money buying a money saving box). Commit to a monthly contribution into a trust fund to earn you money. Believe me if you start now, you will retire richer than you planned to be.

Readers can share any money-saving ideas by putting in your comment. I am pretty sure there are a lot more ideas not mentioned yet. Share your successful experiences with the world.