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How To $ave Your Money

 

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CONTENTS

How Can I Save Money On My Mortgage?

 

How Can I Save Money On My Car?

 

How Can I Save Money On Gas?

 

How can I save my money?

 

 

7 Steps to Becoming Financially Free

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How Can I Save Money Around The House?

 

How Can I Save Money At The Grocery Store?

 

How Can I Save Money On My Energy Bill?

 

How Can I Save Money On Entertainment?

 

Perfectly Yourself - 9 Lessons for Enduring Happiness

Matthew Kelly shows us how to find lasting happiness in a changing world.

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How these individuals sold their home privately to save money

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Save Money On Your Mortgage:

 

You will make at least 300 payments on a 25 year mortgage.  That being said, you can ideally reduce the number of payments in your mortgage.  You do this by making extra payments.  When you make a payment, you are paying on both the principal (what you owe) and the interest (what the bank charges you).  On some mortgages, you are allowed to make an extra payment each month which can be applied directly to the principle. 

Now lets say your mortgage payment is $1000 a month.  At the beginning of your mortgage, you are probably paying mostly on the interest.  So lets take a hypothetical situation:  On your new mortgage, you make a payment and $650 goes to interest while $350 goes to the principle.  Here you are paying $350 towards your mortgage.  Now, lets say you make an extra payment of $350 that month.  This is applied directly to the principle.  You now have 298 payments left.  You have now decreased the length of your mortgage and have saved the $650 you would have paid if you hadn't done this!  Simple isn't it?  It's simply one of the best ways to save money and pay down your mortgage quicker and add equity quicker at the same time.  Keep in mind that as you are making payments, the amount applied to your mortgage principle increases - that's a good thing!.

It would make sense even to borrow money to do this.

 

 

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Save Money On Your Car

 

Here's a simple way to save money on car repairs:  Before you go the garage to have your car serviced, get a free estimate for the repairs to find out what it will cost and get an itemized list of the parts you will need.  Instead of relying on the garage or service centre to get the parts, you go to the parts wholesaler yourself and pick up the parts.  You'll end up paying way less for the parts because the of mark-up the service centre would have charged you.  I do this and save myself hundreds of dollars on a major repair!

 

 

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Save Money On Gas

 

The last thing we should be doing is filling our tanks when the prices are high.  We want to slow down the demand which will bring down the price of gas.  We can either drive less or buy smaller compact cars.

 

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Save Your Money

 

 

-Pay yourself first.  Save at least 10% of your paycheque and put it in the bank or make extra mortgage principle payments.

 

-If you don't already have one - BUY A HOUSE.  Never buy a house that has semi-detached houses or apartments nearby.  However, buy a semi-detached or townhouse in a neighborhood with nice houses.

 

-Never pay utilities early, that way you keep your money longer.

 

-Paying bills online saves you time and money.

 

-Pay your own property taxes thereby accruing interest which is yours.

 

-Don't buy anything unless you need it.  Someone once said to me "At least I'm getting something for my money".  I say, "if you are spending your money, it's spent".

 

-Start a home business to help with income tax deductions.

 

-Consolidate bills at the lowest interest rate you can find, and have the self-discipline not to accumulate anymore debt.

 

-If something appears to good to be true - It probably is.  Don't take part in any get rich quick schemes.

 

-The stock market should be played by people who can afford to lose the money they put in it.

 

-Stay married, divorce is costly.

 

-Maintain employment, even when planning a major career change.

 

-Always live BELOW your means.

 

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Save Money Around The House

 

-Save money by doing simple maintenance yourself like painting etc. and hire licensed contractors when needed.

 

-Use area rugs to protect carpets and hardwood floors in heavy traffic areas.  If you have carpet in your house, never walk or let anyone walk on it with shoes.  Walking on carpet with shoes will dramatically reduce the life of your carpet.

 

-Preventative maintenance like applying a waterseal to fences and decks every year will save you money in the long run.

 

-Make sure water from gutters is draining away from the house and that the ground around your foundation is elevated so that water is draining away from the house.  This will prevent water and moisture problems in your house thereby saving you money.

 

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Save Money On Groceries

 

-Check flyers for sales and coupons.

 

-Go to the grocery store with a list and stick to the list. 

 

-Never go the grocery store hungry, you'll end up spending more money.

 

-Buying in bulk doesn't necessarily save you money.

 

-Buy generic or no name brands when possible.

 

-When you are at the checkout, make sure prices are correct.  Some stores have a policy that if -  they make a mistake scanning your item, they will give it to you free.

 

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Save Money On Your Energy Bill

 

-If you are heating with electricity, turn the thermostat down in rooms not being used.  Even if you are leaving the room for 1/2 hour, turn it down a few degrees.   

 

-When doing laundry, do a full load and use the W/C setting.  Also, adjust the water level accordingly.  Put them through the spin cycle at least 2 times to get the water off of them.  It will make it much quicker to dry.  Getting the extra water and moisture off your clothes will save you money not having to dry them for as long.  This in turn will save you money with your biggest energy guzzler - the dryer!  Better yet, hang your clothes on the clothes line.

 

-Turn lights off in the rooms you aren't using.

 

-Keep your freezer full if possible.  Don't block any ducts and allow cold air to move freely around items.

 

-Open curtains on sunny days in the winter to capitalize on the solar gains.  Conversely, close curtains on sunny days in the summer.

 

-Seal any air leaks around your home and replace worn out weatherstripping and doorsweeps.

 

-Make sure there is adequate insulation in the attic.

 

-Replace old windows.

 

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Save Money On Entertainment

 

-Borrow DVD's from the library for free instead of renting them.

 

-Have a meal at home and then go out for dessert.

 

-Invite friends over and have a potluck instead of going out.

 

-Go for a walk in the park or waterfront or watch the sunset.

 

-Take a can of pop to the movie theatre instead of buying it there.

 

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