Tuesday, 13 November 2012

Finance and Money: Savings Tips (Part 2)

Today is the second and last part on saving tips.

Calculate your monthly budget, including recurrent expenditure and annual (as insurance) and income. There are several websites where you can download tools to help you with that.

Make a prediction on extraordinary expenditures from gifts, vacations, repairs, car maintenance or purchases of high value.

Analyze your budget every month. If necessary correct it.

Try every month save some money for an emergency fund, set up with at least three to six times your monthly household income.

It is important to prioritize your spending. Understand what are the necessary expenses and those that can reduce, in case of need.

If every month you put aside a small amounts for Christmas gifts or for the holidays, for example, will have to worry less about the cost when these moments arrive.

Banking transactions over the internet are significantly cheaper than those made at the counter.

There are accounts where you can put your monthly salary which allow the exemption of fees or a reduction compared to normal accounts. But keep in mind the weight of interest payable if you decide to use the advance salary.

A coffee drunk at home every day allows a saving of more than $ 40 per month. The lunches during the week at a restaurant cost at least $ 200 monthly. If your car is old insurance coverage is unnecessary harm himself.

Regularly check the tire pressure of your car. An incorrect value can increase fuel consumption by 5%.

Use the discount cards from gas stations. Many brands make additional discounts on weekends.

The best time to fuel your car is early morning or evening. In cooler periods of the day gasoline is densest.

Avoid traveling by car for short journeys. The cars spend more when they are still cold.

Prefer the products of the season and the region.

Opt for fruits and vegetables in bulk.

Never forget to compare the prices of products per kilo or liter instead of doing by packaging.

Go to the grocery store outside of mealtimes and avoid taking children.

The pre-cooked meals are always more expensive. Instead of doing this expense, prepare the meals of the week on Saturday and Sunday, then you can freeze them.

Before leaving for the grocery store, make a shopping list and set a maximum amount to spend.

Look for promotions and special offers. Opt for family packages.

The shops and sites of second-hand are a cheaper option.

You can sell everything you do not use regularly on the Internet, using the classified, or even in small fairs that are appearing increasingly in neighbourhoods.

On the internet you can now read several literary works legally and for free. You can also opt for the use of the library's home region.

Go to the movies in the days when tickets are cheaper.

Calculate your effort rate (value of benefits divided by income and then multiplied by 100). Should be between 30% and 35%.

Before hiring a new loan, simulate increases in the interest rate of 3% to 4%.

Whenever you can amortize the outstanding debt. The penalty has a maximum value of 0.5%

Use the period of the credit card without paying interest (between 20 and 50 days). But try to avoid the use of credit cards.

Try to increase your income (if you have a knack for cooking or crafts, for example, you can sell what you produce).

Each energy saving bulbs will save between $ 10 to $ 20 per year per bulb.

Appliances connected in standby representing an annual increase of at least $ 20 invoice light.

Avoid connecting the maximum heating to heat the house faster.

Verify that no losses of heat through the windows or doors of the house. Opt for double glazing.

In the summer, instead of resorting to air conditioning cool the house search, keeping blinds and shutters closed.

If necessary, choose the fan instead of the air conditioning.

Enjoy the cool water of the tub while waiting to reach the ideal temperature.

The showers instead of baths can save you 80,000 liters of water per year.

Turn off the tap while brushing your teeth. This gesture allows you to save about ten liters of water per year.

An empty plastic bottle into the flushing determines a daily saving of 10 liters of water.

Adjust the temperature of the water heater and always delete the pilot when not in use.

Leave the pot lids when they are on the stove. The gas savings is significant.

Remember to clean the ice from the freezer regularly.

Tape the sink while you are using, avoiding water waste.

Confirm that your home has no dripping taps.

Never use the washing machine or dishwasher until it is full. Avoids wasting water and electricity.

To water the garden, enjoy the rain water that can be stored in buckets. An hour of daily watering is equivalent to a consumption of 450 liters of water per year.

Wash the car with water buckets instead of using the hose.

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Blog Editor and Owner: Luis Aparicio Fernandes (or Mikey) is a Business Expert and a Traveler based in Sydney, Australia. He is a member of The International Honor Society Beta Gamma Sigma due to his achievements in business. You can follow Luis on Google+, and LinkedIn.