Why do we have the need to save more money in our homes?
There are a few things that drive us to want to save more money every month. These reasons are all equally important driving factors that make us want to save more money. These reasons are:
- Our basic need for financial security. Unfortunately we live in a world where you need finances in order to feel secure and safe. Without money there is no food, no shelter, basically none of the things we all require in order to feel safe and secure.
- Saving money, means there is more freedom when spending. Basically, when you save enough money, you can get to a point where you can spend some of your money on other items without affecting your budget. Think of that dream holiday you want to take, the best way to make it a reality is by saving up for it. This means that saving up, helps you to achieve your spending dreams.
The actual act of saving money though, is very difficult. And even though we all know that we should save money (you know, for a rainy day) it is something that is so easily overlooked. In the end; after all your accounts have been paid, and the necessary items have been purchased and there is money left – it is so easy to say well, let me spend some more this month to buy that dress I’ve been eyeing and we can save again next month. But that ‘next month’ very seldom comes around.
This is why a realistic and efficient budget is so important. If you find it difficult to ‘save’ the money you have leftover each month, make sure to put a ‘savings’ amount into your budget. Be as strict with this amount as you are with the rest of the items on your budget – this will help you grow your savings much more efficiently. Then you also don’t have to feel guilty if you decide to spend anything that is left after all the items on your budget is taken care of, because you’re already saving your budgeted amount.
Sometimes your budget is so strict that at the end of the month there might not be anything left to safe. Or the amount that is left is so small that it doesn’t feel like it’ll be worth saving so you spend it instead.
That is why I decided to put together a list of a few more ways that you can save money in your home. I’m focusing on easy ways to save you some more money in the month, by implementing very simple techniques into your daily lives. I don’t believe that you have to completely change the way you live in order to save – although in some cases a few changes might be necessary; especially if you are spending more than you are bringing in.
So here is my list of tips on saving more money:
- When shopping for groceries, take full advantage of discounts. That might mean some store hopping, or using different brands. But the financial freedom of saving more money is well worth the little bit of extra effort.
- When going shopping, make a list and stick to it. Do not buy unnecessary items that are not on the list. A lot of times when we are shopping we buy on impulse, and this leads to us buying a lot of things we don’t need. Sticking to a list means that you buy the right items.
- Use coupons when shopping to save. If you don’t like clipping coupons from newspapers, then there are coupons apps that you can use from your smartphone. See, no clipping required.
- When you can (space allowing) buy non-perishable items in bulk as the savings are quite a bit more. For even more saving buy in bulk online as these stores often have clearance sales, and sometimes offer free shipping on large orders.
- Instead of buying expensive specialty coffee’s such as Cappuccino’s and latte’s rather stick to regular coffee as it is much cheaper and you’ll be saving much more. If you just can’t live without your daily latte, rather invest in a quality coffee machine and make your own. Despite the initial investment, the long term savings are well worth it.
- Limit the amount of time you eat-out (or get take-away) for dinner. Making your own meals at home are much cheaper than visiting restaurants and fast food joints. They can also be healthier.
- Take a lunch to work instead of buying one. The same principle as the restaurant above apply – it is much cheaper to prepare your lunch at home, than to buy one.
- When you can, rather buy generic medication from your pharmacist rather than brand names; and you can take the savings even further by buying over the counter medications in supermarkets. These suggestions work for general ailments such as general pain, headaches, coughs, etc. If your symptoms persist it is always good to see your physician and use the medications they prescribe.
- Consider making gifts for friends and family; rather than purchasing expensive gifts. This is not only cost effective; helping you save quite a bit of money; but is also very fun to do and means a lot more to the recipient. I love doing this; especially over the Christmas season. It also becomes a great family activity with the kids joining in. These gifts; and the process of making them; just mean so much more. For those of you who are still on the fence – this also cuts out those horrible Christmas shopping queues…
- If you really don’t feel like making gifts; there is another way to save when giving gifts to friends and families; set up a gift limit. This will help everyone to save a bit more.
- Make your own cleaning supplies instead of buying them from the supermarket. This can save you so much money, and they can often be more effective than their store bought counterparts. I recently did a post on DIY Cleaning products, read the post here.
- Eat less meat (this is a tough one for me, as I love meat), but meat is very expensive. If you enjoy meat don’t cut it out all together, just reduce your portion sizes.
- Save all your small change. Have you ever heard the saying every little bit helps. Well, it’s never been truer than with saving money. Even the smallest contribution or piece of change makes a difference, and when working at it consistently you can see your savings grow.
Saving money isn’t an easy thing. It requires commitment and focus. It is well worth it in the end though, having the financial freedom of knowing that if something were to happen in the future that requires money. You have a safety net keeping you and those closest to you safe.