There are many easy ways for you to save money when it comes to personal finance basics. Some are slightly more time consuming than others but in the end it is well worth the time it might take. If you only follow one or 2 of the following tips you can save hundreds of dollars each year.

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1. REQUEST FREE SAMPLES

There are plenty of websites that give free samples for everyday items. Sometimes the huge companies like K-Mart or Petsmart have great opportunities for you and I to get free items. These products often include skin lotions and personal hygiene products to pet food or bathroom products. One other option is to visit a manufacturer’s website to find those free samples on newly released products. If you need something, type ‘free sample’ into Google before you go to the store to purchase that product. This is the beginning of mastering personal finance basics.

2.            CHANGE CREDIT CARD SPENDING AND HABITS:

Credit cards can be great but also dangerous. With those high interest rates and monthly fees, credit cards might end up costing you a lot more in the future than you expected.

Things to keep in mind:

- always use cash unless it’s for a major purchase

- always make sure you can afford the item before you use a credit card

- be sure you can pay the balance of your credit card

3.            AVOID IMPULSE BUYS:

We all know what it’s like to push a shopping cart through the aisles of the grocery store and the moment we get to the check out we’ve picked up double the amount we planned to buy. Always, always, always make a shopping list, go by it and never purchase anything that’s not on your list. This goes for any type of shopping including clothes, books or entertainment. Retail outlets are mapped out specifically for those impulse buys with candy racks and gum within easy reach. Make your list, check it twice, and follow it.

4.            SHOP THE SALE RACK:

This is another personal finance basics rule but keep in mind this isn’t necessarily an impulse buy. You have your list and know that you need a pair of pants and a shirt check the sale display before you shop. It’s pretty likely you will locate that said item on sale and pay far less than the regular price. Grocery stores work the same way. They usually over order products and sometimes run unadvertised specials on overstock items. Just be sure that item is on your list.

5.            SAVE YOUR HARD EARNED MONEY:

This is sometimes the most difficult thing to do when money is tight, but it is the most critical step to take. According to the book ‘The Wealthy Barber’ you should save ten per cent of the money you make every week. That may not seem like a lot but it does add up very fast and if wisely invested it will assist your retirement plans in the future.

6.            SAVE YOUR CHANGE:

This might seem a little strange but this simple tip may surprise you. Why? Because it’s just like found cash. After you come home from any store put any loose change into a jar. Each month or every few months count up the change, roll it up and deposit it into your bank account or reward yourself to a well deserved night out. These are the personal finance basics you learned when you were very young.

7.            BUY IN BULK:

We’ve already talked a lot about shopping but I have another shopping tip that mostly applies to buying grocery’s. Buy everything you can in family packs. If you drink a lot of orange and you see that it is on sale at half price, buy 4 rather than 2 or purchase the full case of water instead of the smaller 12 pack. This may seem easy but many people do not take advantage of bulk buys on every day items.

8.            CLIP COUPONS:

I know this may make you feel like your grand parent but this is another great way to save lots of cash. It only takes a few minutes every week and you will probably save hundreds of dollars every year on things you were already going to buy. Go through your local newspaper or check the Internet for some money saving coupons.

9.            RECYCLE PLASTIC BAGS:

Not only is this great for the environment but it will put money in your pocket too! Lots of retail outlets are now making you pay as much as 10 cents for plastic bags. Chances are you have about a million of them hidden away in your closest already. Couldn’t you just bring those bags when you go shopping and use them again? Another way to recycle and save money is to use those plastic bags from the store in your garbage under your kitchen sink or in your bathroom. Don’t spend money each month on a pack of kitchen garbage bags when you already have them at home.

These simple tips will save you lots of money and they are simple and might even be fun. It’s always rewarding to know that you are taking the first steps to becoming debt free. If you follow these tips to save money you are one your way to understanding the personal finance basics all of us should know.

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