How to Save Money Everyday in Tough Times – Part 4

This is day 4 of this series to save money in the tough times that we are all experiencing. Be sure to read the first 3 parts to the series if you haven’t already:
Part 1 – Tip #1 Stop Watching TV! & Tip #2 Drink Water
Part 2 – Tip #3 Don’t Smoke! & Tip #4 Use Energy Saving Light Bulbs
Part 3 – Tip #5 Buy Used Instead of New & Tip #6 Pay Your Debt First

Saving money is tough, but if you stay disciplined we can all do it in one-way or another. To be realistic, not every tip is going to work for everyone but if you can start one or two things, in the long run it will make a difference. It’s the thought and action that counts; the result will come in time.

Tip #7 – Pack a Lunch for Work
Packing a lunch is very important. You can be healthy with your choices and eat exactly what you want. You just have to cook extra the night before or if you’re an early riser than cook in the morning for a fresher lunch. By brining lunch to work, you can save a substantial amount of money. Eating out has become more and more expensive and it isn’t uncommon to see people spending $8 or $9 on a takeout lunch. If you actually go into a restaurant to eat it could $20 - $25 or more depending on what you eat and where you go!

Tip #8 – Save on Your Banking Fees
For most people, the bare minimum of banking services is more than enough. If you’re someone that uses your bankcard like a maniac to pay for fees, then consider carrying a little more cash or use a credit card! There’s no need to be paying for a $3.44 purchase and rack up banking fees when you could simply use your credit card or carry a $5 bill.

Check your online banking statement or the statement you get in the mail and see how much you are paying for banking fees. Some banks offer free banking if you have investments or a credit card with them. I would take advantage of the free banking and from reading my blog you should already be putting money away and from reading Become a Smarter Credit Card User, you shouldn’t be scared to carry a Credit card. Take advantage of what you can and get free banking or minimize your banking fees.

Many people complain about how the banks charge insane fees but often times, this is because the person that is complaining isn’t being responsible. If you have 30 transactions in a month when you could have had 15, it’s your fault that you went overboard. If you didn’t have money to pay rent when you wrote a cheque, it isn’t the bank’s fault, it’s yours. Don’t try to fight the banking system, try to use it in your favor. Read my article about Having a Relationship with the Bank! to know what I’m talking about.

Mo2 Thinks
Always take a step back and think about what you are spending your money on. Every lunch that you buy out, cuts into your potential savings or money that you could use to pay down debt. Every extra dollar you pay for fees at your bank is the same, try to cut costs and increase the amount of money you can save and pay down debt with!