by Amon Karagara

Created on: July 18, 2010

Living well on less money means that you can still get the same desired quality of life while spending less money. This is one of the keys to saving money for a healthier financial lifestyle and future. There are various ways through which you can live well on less money:

BUY DURING THE LOW DEMAND SEASONS, e.g. winter stuff during summer and vice-versa, or school supplies when everyone is in school (unless there is usually a back-to-school sale in your local stores). Most of the time, prices go up when goods and services are in high demand. For example, at the beginning of winter, you will pay more for jackets, sweaters, coats and other winter items. But you will pay less for similar items if you buy them in summer, because their demand is extremely low around this time. So, be a smart shopper and think ahead; don’t wait when everyone is looking for a similar product, which will be pricey.

USE CASH INSTEAD OF CREDIT CARDS. When you use cash, you feel the effect of that money as you pull it out of your wallet or purse. This is not really the case with swiping a card. So, carry cash with you when you are going to the store. Or at least use a debit card, so you can avoid the temptation of falling into debt that will take up some of your money in interest charges.

SAVE AUTOMATICALLY, so the saved money doesn’t count towards the available amount to spend. Set up an automatic recurring transfer from your checking to savings account or have the money directly deducted from your paycheck (if you are not self-employed). Train yourself to act as though this saved money does not exist and make a budget based on what is left.

AVOID UNNCESSARY EXPENSES ON ITEMS AND SERVICES YOU DON’T NEED. If you look around your home, there are probably a lot of expensive items that you don’t really use, or there are extra services you are currently paying for, yet you actually don’t utilize them or they are entirely not useful at all. For instance, the extra subscription on your cable service, the unlimited minutes on your cell phone plan, etc, may just be a waste of money. Cutting down on these could save you money while you are still getting the same quality services.

LOOK FOR SALES, DISCOUNTS AND COUPONS on items that you need. Determine what you need and check to see if you can find sales and coupons around your area. If items are carried in different stores, check to see if any of them have any of the items at a discount. Why spend more at one retailer

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