Simple, Smart & Savvy Money Saving Tips

Simple, Smart & Savvy Money Saving Tips


This is one in an occasional series of articles discussing money saving tips.

save moneySaving money in a bank account is one way to create wealth, but in these days of furloughs, cut backs, debt problems and excessive national spending, consumers need to come up with some other ways to help them save cash.

To that end we’ve compiled a list of suggestions, some of which we’ve pulled out of our own archives, alongside others offered by the experts with the appropriate attribution given.

7 “Saving Money Smartly” Tips

Think Before You Buy — Impulse purchases have been the bane for many consumers over the past several decades, but tighter credit restrictions have only reduced this problem, not conquered it.  If you can control your urge to spend, you’ll find that the largest savings are realized with this step. If not, everything else I have to say probably won’t mean much to you.

Shop Day Old — The price of a loaf of 12 grain bread is now between three and four dollars. That’s a lot of money to pay for what amounts to being just six to eight servings of food.  Your supermarket probably has a section selling day old bread, take the 50% savings and see if you really notice the difference. Even artisanal bread can be had for less if you know where to shop.

Shop Big — The smaller the packaged item, the more you’ll pay for that purchase. For example, that 12 oz. jar of yellow mustard may seem to be a good deal, but that 24 oz. jar is priced only 50% more although you are seeing a 100% increase in content. Of course, if you’re the only one using the mustard than the bigger jar will go to waste, but if you have a family then bigger is almost always better from a price per ounce standpoint.

Toss The House Phone — If you connect to the internet via cable, do you really need to deal with the phone company anymore? Maybe not. Landlines — your house phone — could be redundant especially if you rely on your cell phone to stay connected. Consider getting rid of the home phone especially if your usage is way down. Hook up with Skype to get a voice over internet protocol or VOIP connection for just a few dollars a month if you still want another line.

Clip Those Coupons — Cutting coupons is almost a national pasttime, but thankfully you don’t need to deal with paper and scissors all that much anymore. Some of the best grocery store savings can be realized by using your store’s consumer card, a plastic card the size of your credit card which allows the store to track your purchases while giving you great savings on select products each time you shop.

Manage Your Prescriptions — Your days of paying too much for prescriptions should be over. At least for the more common prescription medicines most people use.  Unless you have a need for a specific or uncommon prescription, you may be able to use a generic equivalent and pay only a few dollars a month through your local WalMart, CVS or other store offering low cost prescriptions. Some stores still offer customers up to $20 to switch, so consider taking these stores up on that offer too.

Keep The Change — Our family has managed to save hundreds of dollars every year by setting up various “keep the change” schemes. All of our pocket change goes into a “kitty” and we also have an arrangement with our bank to subtract an extra dollar from our account every time that we use a debit card or write a check. We have other savings methods but these are the easiest and most painless ones to do.

Check Back For Our Next List

We’ll be rolling out a fresh list next month, so please check back for updates. Feel free to hit the reply button to this article if you have a great tip of your own. Who knows, but we many just mention your tip and your website in an upcoming feature article!

Adv. — Are you looking for additional ways to save? If so, visit nBuy Shopping Plaza where we offer links to some of the best savings online including food items, books, bargain basement and more.


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Categories: Consumer Tips

About Author

Matthew C. Keegan

Matt Keegan is a freelance writer and editor as well as publisher of "Matt's Musings", his personal blog. Matt covers campus, consumer, business and financial topics on various websites and blogs, and has been published in the "Houston Chronicle", "Sam's Club Magazine" and "Wisconsin Golfer".