When times are good, we get lazy. When we’re feeling the economic pinch, it’s time to reverse some of those bad habits than waste money. Here are my Top 5 Tips to save money that can be put to better use paying off debt.

 

  1. The best investment you can make is to buy a small notepad and pencil to carry about at all times. When you think of something you need, or see something running out, note it down. Shopping without a list results in impulse buying and unnecessary gas guzzling trips to purchase items that have been forgotten.
  2. Food that is thrown away is money thrown away. Train yourself not to over buy and over cater. Left over food can often be recycled into lunches. Most workplaces have microwaves these days. People may tease you, but you’ll be the one smiling when you pay off your credit cards.
  3. One of the biggest household money wasters is laundry. Over use of the washing machine and drier gobbles power and laundry products and wears out your machines quicker. Towels don’t have to be washed after a single use, and neither do a lot of outer garments. Break the family of the habit of hurling things straight into the hamper because they can’t be bothered hanging them up.
  4. Walk around the house at night and see how many lights are glowing. All those machines on stand by contribute about 10% to your electricity bill. Turn them off at the wall, and you’ll reduce fire risk at the same time.
  5. When eating out, think twice before ordering beverages. Any restaurant owner will tell you that their greatest profit is made on the drinks, not the food. Drink water with your meal and wait till you get home for other beverages. It’s better for your health anyway.

 

Remember – put the money you save into paying off your debts. Interest payments are the biggest waste of the lot!