Thursday, May 9, 2013

Smart Money Saving Ideas For Every Household

Everyone can always find out how to save more money if he can explore all possible saving options. Do not forget utilizing smart thinking cap that may help oneself develop smart money-saving ideas for her household and can also open new door for effective solutions.

As quick money savers (QMS), people can easily know how to save more money via examining their own spending budget or spending habits first, and then by analyzing their overall financial situation. In order to help one get started this smart money-saving process, let us examine altogether your household expenses and spending budget as follow:

(1) Examine Your Household Spending Budget

First of all, people must learn how to start asking themselves the following smart questions for budget examination: How much money can they normally earn every month or week? How about their total net payroll (calculated after taxes)? What is their welfare income, and are they on SSI or social security? In addition, how much money can they use for spending every week or month? Now, please also start adding up totals for your following household expenses:

List of Household Expenses:
Medical Expenses;
Dining out;
Smart Phone;
Insurance, including health (medical), car (auto), life insurance, home insurance;
Other Household Items etc.

The above is only a short household budget list. Do think carefully, as perhaps other people may get more household expenses items for their budget review. Write all of them down here, then everyone can easily know how and where to save more money.

(2) Break-Down of Your Household Budget List

Just be smart! Now everyone, as Quick Money Saver (QMS), may start breaking down his own household expenses list as 7 major items below:

(i) Groceries Expenses.

Expenses for groceries should be classified as 'must-buy' items for all households. To start saving money, ask yourself honestly the following smart questions first: Do you always purchase branded products? Do you ever realize that generic products can have similar ingredients, yet these generic products are much cheaper than branded products? Do you understand that you might save a big fortune if using cash coupons? Or, you might save another fortune if preparing for a new meal mostly from leftovers? Since groceries cover a wide range of daily consumption products for every family uses, do always try using your creative thinking cap for better money-saving results.

(ii) Gasoline.

As gasoline prices are now becoming more and more expensive, it is smart to consider money saving ideas by cutting gasoline costs. Firstly, people should think about how much every month are they spending on gasoline fuels for traveling by car? Always use your creative thinking cap. Do you see any possibility for carpooling? Would you accept walking to buy bread or get milk instead of driving in town every time? Apply your thinking cap wisely as long as it can meet traveling schedule of your trip.

(iii) Medical Expenses

Medical expenses are also major living costs that can be saved. Will you consider re-arranging healthcare insurance for saving money on your medical expenses? Will you begin eating healthier, exercising, or just cutting back on unhealthy items for saving more money?

(iv) Heating Expenses.

Heating expenses can be killing but there are still useful tips for saving your electricity bills. Do you think it is still necessary to turn on heating appliances up to 80 degrees? Will you simply wear warmer cloths or use thicker blankets to reduce heating costs?

(v) Lighting Expenses.

Similar to heating expenses, cutting lighting expenses can also save your electricity bills as well. Do you have a bad habit to always leave the lights fully on day and night? Or, do you always leave unused electrical home appliances hooked up and stayed connected all the time? Will you consider turning unused lights off? Will you also unhook electrical items while they are not being used?

(vi) Accessories Expenses.

Expenses for accessories can also save a lot because most accessories may not be necessary to buy in the first stance. Key smart questions are: What kind of accessories do you often buy? Do you really need all accessories that you buy? Are you willing to save some money just by using cash coupons associated with some purchased items?

(vii) Other Household Items Expenses.

These expenses refer to all home-use items other than the above 6 major items. However, do you even know that you should firstly learn how to save money just by identifying what are household items smartly? Although one should not use banana leaves as a direct substitute of toilet paper, one can still save money by using cash coupons, purchasing sale items, and buying cheaper branded products etc. An obvious example is about house cleaner. Do anyone know that using vinegar can be much cheaper? Do anyone know vinegar could clean damn almost anywhere inside her house and could be much better than most branded or big-name household cleaners?

That is all for the 7 major items that smart people can break down in their household expenses list. As a Quick Money Saver (QMS), do keep going, and never giving up using your creative thinking cap. Also continue comparing overall budget with spending on monthly basis to find out effective methods on how to save money. We believe everyone will save a lot with the above smart money-saving ideas for every household.