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Money in the Bank by Chris Cooke http://www.msnjmoney.com Saving money seems like the most difficult task to many Americans; however the truth is with just a few changes in your daily lifestyle you can realize significant savings without cramping your lifestyle. First of all, evaluate where and how you spend your money and then think of ways that will effectively save you money. The following tips are just a few suggestions that will help you on your way to savings. First of all, change your mindset when it comes to credit. Credit does not mean you have money to spend and should only be used in extreme circumstances or if you know you can pay off the bill every month. Paying cash in all instances is the best behavior and something you should always try to do. If you dont have cash to pay for the item, then you cannot afford it and should simply forget about it. Another good tip is to clip coupons and shop grocery store circulars. When you do this you will save so much money and not be putting forth much effort, either. Many grocery stores honor competitors coupons as well, so you should keep this in mind too. If you shop circulars and use coupons it is not unlikely that you will save $40 a week on your groceries. Be smart and take advantage of the discounts you will receive when shopping this way. Also, evaluate your cell phone plan and the amount of minutes you use. Americans generally either pay too much for their plan or have a plan that does not cover their calling needs and end up paying higher fees per minute. If you have a significant number of excess minutes per month, then reduce your plan to one that really meets your needs. If this sounds like you, then sit down with your monthly statements and evaluate how many minutes you talk and at what time of day, then go over the plans available that meet your needs. You will pay more for your monthly plan, but without the extra fees you could save hundreds of dollars easily. As you can see, saving money does not require that you completely change your lifestyle or even eliminate things you are accustomed to. You simply need to be smart and make the most of the money you are making. Then, with your savings you will be able to plan for the future, remodel your home, pay off loans, or save for retirement. Whatever you do, make sure the money saved is saved for important purposes. |