Times are tough right now, our 401K's are now just a K. Just two more and I'm out. I'm not going to let the markets and the media dictate my life. There is one thing you can control in life and that's your attitude which leads me to the number one major way to save money.
1) Teach Yourself to Save !
That's right, you must make this a conscientious mindset. Analyze, research, investigate and learn the art of negotiation. Never take anything at face value especially on those big ticket items such as an auto or home.
2) Budget Your Money!
Account for every dollar of your money going out the door. Are you eating out too much? Are you using coupons and buying only whats on sale when you go food shopping? Are you turning down that thermostat during the winter months?
3) Do Not Waste Big Money on Non-Appreciating Big Ticket Items
Do not waste all your hard earned money on that new Beemer you always wanted. I know you must have an automobile to get to your job but why not buy or lease an economical car and save the rest of the money you would have spent.
3) Buy a Home Instead of Renting!
OK, you are thinking is this guy insane? Seriously, there is a lot of great opportunities out there right now. If you are currently in the market to purchase a home this maybe one of the best times in recent memory to find a good deal. In the long run, home ownership is still one of the best wealth building methods there is and you'll sleep better at night knowing you not voluntarily trying to make your landlord rich.
4) Pay Off those Credit Cards!
Start with the store credit cards first. These usually carry the highest interest rates and have the most severe penalties even if you're a few days late. After those payoff your others, but don't cancel them. Having that available credit may help you obtaining other loans down the road.
5) Do Your Homework!
Constantly challenge yourself to investigate, analyze and compare everything you do. Whether it's using the Internet to find coupons to do your food shopping or going to a wholesale grocery store. Maybe its doing a $299 month lease on a car instead of purchasing one outright and stashing away the other $300 a month away.
For more information on ways to save money visit my website at http://www.consolidation-guide.com and just remember...it's a mindset!
Source: http://www.ArticlePros.com/author.php?Paul McParland
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