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Easy Ways To Start Saving Money - Step By Step Strategies

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Anyone that saves $10 a week, especially when they start out, is doing fantastic! 500 bucks is what you will save on an annual basis. In reality, this is just the cash you are not spending. Over time, this can build up quite a bit. You will be able to save a lot of money by doing several other things. It does take time if you're really strapped for cash and thing are looking a little bleak. It is imperative that you stay positive, and try your best to do this everyday.

Some products, as you know, are made by brand name manufacturers, and others are house brands, or generic products. As a general rule, the product with the big-name brand is going to be more expensive than the same product with a "no-name" label. The places this practice is most evident is at the supermarkets, or grocery stores. In America it's not unusual to find products from well-know, established brands to be considerably more expensive than similar no-name products. From what I've experienced, most of the time the products are the same and you are simply wasting money by going with the brand-name product. In fact, a lot of times, the two products are produced at the same manufacturer! Old habits die hard, and with all the media hype, it's become natural to assume - and buy - the brand-name products instead of their generic counterparts. So this is a great way to save a lot of money, and you can just experiment a little and test out non-name brands and see the difference. Credit card wars are something that many people are familiar with, and they go on every single day. In some cases, these wars are done to make people do something that they may regret at a later point. They may hop from different credit cards, going with the ones that offer the best rates. It is always a good idea to get the lowest interest rate possible to save the most money. If you want to improve your credit score dramatically, getting a couple different cards can help you out. Using your card to pay monthly expenses, you can then put your paycheck away. Your credit score will be positively affected by paying off a credit card with your check at the end of the month.

A business practice that you should watch out for is that businesses will sometimes price single items higher than if you buy more than one of the same item. This business strategy has proven successful for those businesses who do bulk buying and selling. Vendors have found this business model to be very successful and it gives them the opportunity to pass on significant savings to their customers. It's a win for everyone concerned. The main areas where this practice applies is groceries and household products. If you can, buy in bulk to save as much money as possible. Just keep in mind what we've talked about in relation to name-brand products versus generic brands. The same situation applies, even when buying in bulk. Remember, that name-brand products are generally priced higher than their generic equivalents. Buying in bulk may save you money, but you will still be paying more for a brand name selection than one with a generic label. It is to your benefit to pay attention when you are shopping like this because there may be subtle "rules" that apply.

If you want to save money, don't put it in your checking account. This is the last place that it will actually be safe. It should be put in a savings account that is not accessible by ATM, making sure that you won't have easy access to it for any reason. You really need to ignore the temptations that will come your way if you want to save money.

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Posted Sep 10, 2013 at 7:32am