Saving Money Isn't What It Used to Be

Filed in archive Saving on January 23, 2009

Photo courtesy of iStockphoto, Image# 6667499

Just like the weather is blowing extremely cold air all around us right now, we certainly can feel the chill of financial events that are beyond our control. Saving money, for instance, is not nearly as easy as it was just a couple of years ago. Even if money was readily available to save, where would you put it that it would be safe and still be able to earn some serious interest? Here are some tips on how to save money so that you can maintain some form of savings program.

Evaluate Your Expenditures

With gas prices becoming reasonable, it feels good to be able to fill up the gas tank again - and not feel guilty. The gas crunch certainly helped most of us become a little more frugal in our travels - if you traveled at all. Now that it has relaxed some, be careful about wasting money on unnecessary trips - save it instead.



Photo courtesy of iStockphoto, Image# 571987




Besides the extra trips, though, there are many other ways to cut back on some things you really don't need. Evaluate your weekly expenses - count every penny, and find out what unnecessary purchases can be eliminated. Then, take the extra money and put it into some kind of money savings account that will earn some interest.

Reduce Your Debt

A lot of people have been hit hard because they had used a lot of that extra credit that was easily available. Whether it be on a mortgage, a credit card, or a car payment, if things get tight again - and jobs lost, all that debt could come back to haunt you for a long time if you should have to declare bankruptcy.

Besides that, you could do without all of the interest. Even if you currently have zero interest payments - they do not last forever. Take advantage of the money you have now, and reduce your debt. Don't forget, though, to keep some money aside for emergencies.

Learn to Enjoy the Real Pleasures

For many people, part of not having enough money for savings may also be based on one's philosophy, too. The idea that having or getting things will make us happy is something that just is not going to happen. You cannot keep yourself happy by constantly buying more things - there will always be demands for more things.

Probably the thing that makes most of us happier than anything else is the people around us. Those that we love and that love us, too, can make us the happiest. If we spend more time with them, it does not take long to realize that we can get joy from them - and vice-versa - and it does not even have to cost us to be able to have some fun together.

In the past, families learned to be happy just being with each other - and that is a long lost art today. They were able to save something, because they invested themselves into those around them, and realized that money cannot buy happiness.

-

Hi. I just want to say that this is my first post to this blog and I hope it provided some useful information for you. Be sure to watch for frequent posts in the future related to saving money and all other practical financial topics. Leave a brief note and give me some ideas for upcoming posts. Yours for your future financial success. Mike.