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Life's materialistic luxuries don't necessarily make a happy family. However, reducing the strain on your bank account can help families relieve a lot of stress. If you knew just how much impact tiny changes in your lifestyle can have on your family budget, you might be more inclined to save more. There are many simple things that you can do to ease your monthly finances, but here are 10 of our simple tips:
1. Be disciplined in saving
Set aside at least 10% of your monthly salary into your investment account in the beginning of the month even before you begin to pay your bills.
2. Be efficient with your utility usage
Turn off the lights when you leave a room. Iron your clothes or turn on the water pump during the day when the electricity rates are lower. That way, not only will you contribute to a more environmental friendly world by reducing your carbon footprint, you can also save on your bills.
3. Shop in bulk
Invite your extended families, friends, and neighbors to enjoy a bulk discount when you shop at the wholesalers.
4. Be a bargain hunter
Shop when there are clearances or when there are special offers. Researches have proven that the latest clothes trends don't necessarily make a happy person, anyway.
5. Get a bike
Avoid traffic, reduce pollution, get fitter, and save on fuel. It's a winning combo!
6. Plan your holidays well
Choose your holiday timing wisely. Travel agents and airlines usually have better offers for off peak travel season. You can enjoy the same kind of holidays, not only in a less crowded place, but on a better budget too.
7. Be creative with exercise
Contrary to popular belief, exercises don't always have to cost you money. You can save on gym memberships and/or personal trainers by taking a walk or jog around the neighborhood. You can also browse your favorite workout videos for free on Youtube.
8. Pay off all your credit cards
Minimize interest charges, because those are not small fees.
9. Browse the web for news
Save on newspaper or magazine subscriptions.
10. Simplify
Define your needs and minimize your wants. Be simple in your lifestyle.
Do you have other smart tips for saving money? Tell us in the comment section below!
