by Tamfra

Created on: May 27, 2007

Here are my top money saving tips.

1. Make a monthly budget. This should be realistic and allow a certain portion of your earnings to be saved each month. A good way to do this is to set up a direct savings bank account that will automatically take a certain amount out of your bank account after your wages are paid in. This way the money is never in your current account to be spent. However do make sure that a certain part of your budget is set aside each month as a contingency as there will always be unexpected expenses.

2. Plan your weekly food menu, make a shopping list and stick to it. Since I have started doing this I have saved so much money as it cuts down on impulse spending at the supermarket. If you find it hard to resist temptation you could do your shopping on-line and this will ensure you only buy what is on your list.

3. Learn to cook. This means you can save money by only buying basic ingredients. If you like the taste of your own food you will also be less likely to waste money on take out or restaurants.

4. Make full use of your local library. Libraries are a great resource not only for fiction books and DVDs but also as a research tool for gardening, cooking and crafts. If you cannot afford the Internet at home many libraries also have this facility.

5. Take advantage of free facilities. You don't have to spend money to have a great day out, you can go walking in areas of natural beauty, visit free museums or simply visit the beach.

6. Take your own lunch to work. It is surprising how store bought lunches can add up.

7. Get creative with presents for friends and family. Times such Christmas and birthdays can really ruin your monthly budget, however it is easy to make really thoughtful gifts on a budget. Home made bath salts, hand knitted scarves and plants in customized pots can make lovely presents.

8. Invest in a few pieces of good quality clothing. This is much more cost effective than wasting money on cheap clothes that look shabby in no time and you have to buy again and again.

9. If you have debt take advantage of 0% credit card deals. These can really help you to clear you debt as quickly as possible.

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