Everyday tips to save money

1. Save More Money by Wise Shopping.

You can save a lot of money every day by changing your shopping habits. Stop spending so much on food by honing your grocery shopping skills. Improve your health and build up your savings by making more frugal lifestyle choices. Save even more money by buying a wide variety of merchandise used, renting it, or borrowing it. Finally, make sure your credit card use helps keep your bank account healthy.

2. Saving on Food.

Spending less on food can really increase your savings, and you have many ways to save on food. Join the loyalty club at your local supermarkets and drug stores. Study the circular and local newspapers so you can combine coupons and specials.

Stock up on enough nonperishable items to last until the next sale, usually two weeks for seasonal foods and three to four weeks for soda or cereal. Examine marked-down items, such as produce, and buy them if they pass your quality test. In addition to your supermarket and drugstore, compare prices at the superstores, club stores and other discount stores.

3. Saving with Healthier Habits.

If you smoke, stop and enjoy savings every day and breathe easier. If you usually drive, take public transportation bus. You will have less stress and save on gas. If you walk to the bus stop or train station, you will also benefit from exercise. Find other habits you can change and save more money. For example, cut back on candy, desserts, beer and other alcohol.

4. Saving by Buying used or Borrowing.

If you always buy new, you have been missing opportunities to save money, according to MSN Money author Liz Pulliam Weston. She suggests borrowing books from your library or buying them at used bookstores and garage sales. Go online to buy used books, CDs, DVDs. Look for used jewelry at pawnshops, online sites or newspaper ads.

Weston suggests having jewelry checked by a jeweler before making a purchase. Other used items to buy include office furniture, toys, sports equipment and tools. You can also rent or borrow tools for occasional use. For bigger savings, buy used cars.

5. Saving on Credit Cards.

You can save a lot money by proper use of credit. If charging everything makes you buy more and pay hefty interest charges, switch to cash and save. If your credit rating permits, get a low-rate, low-fee card and save. Make sure you have the best reward card of its kind.

Taken from: News Straits Times - 23 July 2012 (article), Google (images).