Money Saving Tips

Wednesday 1 February 2012

Money Saving Tips and Budgeting Ideas

Money Saving Tips and Budgeting Ideas

By Rachel M Turner

Budgeting and saving money are both extremely vital and should not be ignored. Having a suitable budget is extremely important especially if there earnings are limited and there are people depending on your earnings. Budgeting ideas which can help people with their budgeting process is very important for just about everyone.

In order to start implementing all the budgeting ideas that are readily available to you, you want to first know how much you earn and how much you are spending. You should be looking at more than just your bills when calculating how much you are spending. By adding up all the receipts for the current month, you are able to get a clearer picture of how your money is being spent each and every month. The receipts should include everything that cost you money in that month including food, bills, entertainment, medical, etc. The aim of budgets is to avoid buying things which are not budgeted for and thus saving you money over time.

It's not always the case, but there is some evidence to suggest that those who are busier may be less likely spends as much money on things they don't need. An explanation for this may be that some people tend to purchase things purely out of boredom rather than purchase out of necessity. These expenses are usually added into the "miscellaneous" category which is actually a bit hard to track if there are too many items listed. You should always be telling yourself that you will only buy things which are on your budget (planned from the beginning of each month). Just because an item is on sale, does not mean that you are saving money by buying it.

Another thing that you should be aware of is that when setting aside a budget, you must also include spending which are "unexpected" or spending which happens only once a year such as Christmas and birthdays. The best way to budget naturally is to become familiar with your spending habits and learn the areas which you spend excessively on and then cut back on this area over time.

Often times we will have friends who have very bad spending habits and we fall into their trap. This is very common because when we see our friends' spending money we feel as if we need to do the same. This is a quick way to end up with nothing. For cases such as these, preparation is always the best method. Be prepared to limit your spending before you go out with them so that when the time comes, you will already know where you stand.

These are a few ideas for budgets that when adhered to will allow you to pay off all or most of your debt and allow you to save towards your future. In the age we live in, it is extremely vital that we learn these budgeting skills and properly manage your money. For this reason, it is a good idea to read up on various budgeting ideas available across the net and implement the ones that apply to your situation.

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Tuesday 25 January 2011

Saving money on your heating and Electricity bills

Saving money on your heating and Electricity bills

I have come across two nifty little gadgets that can reduce you annual heating and electric bill.

The first gadget could save you up to £140 a year on your heating bill, and with the frost cold night with us this is a highly recommended product as not only does it save you money it helps to heat your room up quicker. It works by using a fan to spread the warmth more evenly around the room, thus reducing / eliminating cold spots and creating a convection system in the room. They also reduce the amount of heat being lost into the wall behind the radiator. Unfortunately they are they suitable for electric/ oil filled radiators. These radiator boosters have featured on Dragon’s Den and at the current low price they are a worthwhile investment.

The second gadget The Energy Wizard will knock up to 10% off your electricity bill just by pulling it in. I won’t go into all the technical stuff here (if you want to read about it you can here) all I can say is that it works by improving your electricity supply.

I am sorry but I do not know if these are available outside of the UK.