Thursday, December 23, 2010

How to save money on everything

The road to a consistently expanding bank balance is fraught with endless temptations and disappointments. How to save is a question that every family or even a single person has to contend with at every step of the way.

If we could save some money on everything, then perhaps we could put away something every month. Well, is this really possible? The answer is a definite yes. All it requires is discipline and determination.

If you really think about it, a lot of times when we spend too much money, it is because we are bored or restless and spending money is a way to alleviate this feeling of angst. Although, I am a woman, I definitely think that this malady affects women more than men after observing my mother and I post myriad wasteful shopping expeditions.

First of all, let’s consider the necessities. Maybe, if we plan our menus better, we would not end up wasting money on food which ends up rotting in the refrigerator because we just bought too much. I think this happens to everyone. Buying loads of stuff and shoving it into the far end of the fridge and then discovering its existence only after it has passed its shelf life.

I think another way to save money is to leave our credit cards at home and take cash when we go out shopping. When we carry a credit card, we always tend to overspend because psychologically we convince ourselves that a credit card is an endless source of money. Limit your credit card to certain occasions such as when you have planned (after careful consideration) to buy something expensive like some gadget or when entertaining at an expensive restaurant and you can’t be caught in an embarrassing situation.

Make your spending planned and not spontaneous. For instance if some clothes or some gadget really catches your fancy, don’t just grab it right away. Go home and think about it whether you really need it. Chances are you wont. If you really need it, then come back the next day and make your transaction.

If you really want to save money, then always think about what you need instead of want and must have. For more advice on financial planning visit or or call 650-328-1000 to speak to a live agent or email

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