How to Save More Money – Beginner’s Guide to Money Management

Many people go without saving a penny for most part of their life. Because, they think they cannot do it or have no idea how to do it or simply don’t have enough money.

The fact is, no matter how much you earn or how big your financial responsibilities are, there is always room for saving. Even saving $20 a week is a saving. With simple tips and solution you can actually save more than you think you can.

In this article, we will be discussing some of the practical ways to save more money. If you are just beginning to save money, this can help you with your long term financial goals.

Let’s get started on your personal money management with these tips:

Understand the psychology of saving Money

Money management is actually more about psychology than having more money.  It all boils down to managing your habits and values and adjusting them to your current financial situations.

Here are some important rules:

  • Spend less than what you earn – It is simple rule. Live within your means and don’t over spend. Meaning, if your expenditure is always more than your earnings then you are doomed. If you don’t have buying capacity then don’t use the credit cards. That will only make your debts go up. Always keep your expenditure under control.
  • Think hard before you Act – It’s so easy to fall into the trap of today’s marketing manipulation. Someone offers to sell you a car that is way beyond your financial capacity, in smaller installments and you jump right in. What a $600 a month could cost you? But, this very thing can cost you your whole earning. If you don’t plan for the future, you will still be paying your car loans long after it has lost its utility. So, make sure you think it through when getting involved in long term loan payment system.

Choose Your Saving Accounts Wisely

Banking is a huge industry. It has not only become diverse but also highly competitive. They are all striving for your attention. In this chaotic environment, it is important to choose your bank wisely. The first thing you need to see is that the bank has a good track record and is old enough and most importantly doesn’t ask for more maintenance fees.

You need a bank account for saving your money. It’s totally unwise to keep your cash stashed in a jar or under the carpet or underground. Your money will be safe in the bank. Choose a bank that is offering the services you are looking for at affordable rates.

Choosing a bank is easy and simple. Don’t over think because all the banks offer the same kind of services at same rates, more or less. You can use various online tools to find the right bank. If you are still giddy about it then go with the recommended bank by for your family or friends.

Establish your Budget

When it comes to personal money management, establishing a budget is essential. You need to determine what your earnings and expenditures are. This way you can streamline your money management and cut out the unnecessary expenses.

Setting a budget has many benefits. After you have set money aside for important things like rent, bills and grocery, you can decide on how to use rest of the money on important things.

Here are some of the ways you can do it:

  • Fixed Cost – includes your rent, bills and utility. It never changes.
  • Savings – Saving for the future – retirement, wedding, vacations, emergency situations and others.
  • Invest – Invest in mutual funds and bonds and shares. Use the money to make more money.
  • Luxury Spending – set some money aside for indulgences like eating out, party or buying a new expensive dress. Remember, this should be an occasional thing.

Once you know where your money is going, you will get better at handling your personal finance.

Always Plan for the future

Financial security is a must for everyone. This is only possible when you plan for the future like your retirement. How are you going to fund your retirement plan – Through savings of course. There are a number of ways you can save for your retirement. Plus, you can maximize your retirement fund with the Social Security benefits and employee benefits. Likewise, you should plan for the short term financial goals like saving for buying house or car.

All these planning depend on your current financial situation, lifestyle and your vision for the future.


Saving money is as simple as it gets. All you need to do is be aware of your finances and your spending habits. You can always use some tips and tricks to save money. This is a simple guide for the beginners. This will help them with teir personal money management goals.

How to Save Money on College Text Books?

One of the major problems that most college students have to encounter is the rising price of university books. And it is also needless to mention the importance of books in a student’s life. If the prices are summed up, this is probably the most expensive aspect of college education. Hence, every student should know the basics of how to save money on college text books. Just because books are important and required, doesn’t mean that, you ought to spend huge bucks on it blindly. There is a need to find other alternative ways for this.

  • One of the simplest ways is borrowing books on rent. Students can easily rent books from their seniors or counterparts when they do not need them, and return to them after their exams.
  • Buying college books from online sources like Amazon, flipcart or eBay are extremely advantageous and are also a good process to save money. These online bookstores give the best deal on new and old books. It is seen that buying a book from the internet and selling it after the completion of course, greatly reduces the college expenditure. Buying used textbooks isn’t as icky as it sounds. Often the used textbooks will have notes in the margins and highlighted passages that can help you understand the material and study for exams.
  • Another most common means of saving cost is using of online library resources. These online library resources provide us with the links of the information we want from a respective book and it also helps in providing outline of the publications and the author.
  • Here’s another additional way to save cost- use text book coupons! Many booksellers offer coupons at the starting of an academic session. These coupons provide amazing discounts on quoted price on the textbooks. One more way of saving cost is to share books among two or three people, for example sharing amongst roommates and friends. They can buy different books and share them according to their convenience.
  • Another economical approach is buying only the required ones. If a reference book is needed, library facilities from the college can be availed. Often many text books come with an array of ancillary materials like workbooks, CDs, and videos. Many universities don’t use any of this supplementary material for their courses, so, if these supplementary materials are not useful, it is always beneficial to buy books without them.
  • Another great way to save money is by networking. Posting one’s requirements on facebook and twitter can also be beneficial. Networking with a friend to look out for someone who has already taken the subject or course and still has the textbook, is also economical. None of the present generation student would ever deny this!

Auto Insurance – Save Money, Be Smarter!

Making a decision about your auto insurance is very important. If you love your car then it needs protection right? Lots of people tend to avoid buying insurance in the fear of extra costs. But, you can save money here too, only you have to be smarter in your decisions.

Choose a better plan with good deductibles

A deductible is the quantity you pay per claim before your insurance agent can pay the remainder of the balance for repairs or replacements. Individuals tend to get policies with lower deductibles, however, the upper your deductible is, the lower your monthly premiums will be. Safe drivers might want to contemplate a better deductible as it will save them money on a monthly basis. Meanwhile, drivers who fill quite their fair proportion of claims could prefer to maintain the lower deductible. It’s best to settle on a deductible with the best quantity that you are ready to afford.

Whatever you buy, buy with a lower insurance rate

Many get fixed within the excitement of buying a brand new vehicle. Although it’s a really exciting, you need to take into account the value of insurance on high of your monthly consumer loan payment. New cars can have higher premiums than used cars. Also, sports cars can have higher premiums than their counterparts. Make it a priority to speak with your local agent before deciding on a final call.

Driving safely is the need of the hour

This may sound obvious, however it’s still a vital a part of saving on your premium. Safe drivers, with very little or no accidents and tickets, can pay better than drivers who systematically file claims. Accidents will have an effect on your premium for years to come. With the exception of saving, driving within rules could also be a smart habit for your own safety and the ones around you.

Lower the insurance coverage on older vehicles

Older vehicles don’t need a similar quantity of coverage as a latest car. Take special care to keep up the minimum coverage needed by state law, however be free to contemplate dropping any policy extras like collision coverage. Make sure you are paying correctly, research the market to check whether your insurance coverage is too much.

Look for discounts

There are many auto insurance discounts that you just might not understand and as a result take advantage of. These discounts are beneficial, if you don’t know anything about it then just ask your local agent if you qualify for any one of the available discounts.

Avail for professional help

Independent agents are ready to compare costs across several insurance suppliers. Beside a quote, you will need a lot of data concerning every insurance agent, like the potency of client service and the way and how quickly they handle every claim.You can get free quotes to get an estimate for the type of insurance you want.

Reduce Frivolous Spending and Save Money

Every of us had those minutes where we make a motivation buy that we don’t need or do what we shouldn’t do. We can walk around the shopping center, strolling down the road, or when we go home from work when we abruptly choose to buy some food or something that is useless for us. Such spontaneous buys can’t be blamed when they happen but we should be more attentive to these impulses.

In any case some people have a habit to buy unimportant things. This habit can become a big problem for you and you simply won’t have any cash. You should know how to prevent buying things which you don’t need. The main question is how to avoid these spending and to save your money?

Here are some pieces of advice

Carry money. While using of credit cards is more simple, quick and helpful but you don’t know the count of money. It is much better to pay using cash. A credit card is just a piece of plastic. Leaving your card at home will help to stop unnecessary buying. Take cash leaving home and try to forget that you have a credit card.

Tie down your cash. Some of us spend money not counting them because they buy too much and sometimes even apply for this very convenient service when you need urgent cash. They have an excessive amount of expendable or “unaccounted” earnings in their month to month plans. It is much better to put your money to bank account than having it in cash. The rates will bring you money which you can use later.

Make plans. Studies showed that people who have lists spend less money than people who don’t have. It prevents them of unnecessary buying. When you go shopping be sure that you know what you need. You should better have a list of products that you want to buy. It will help you to buy all you need and don’t forget to buy something as well as you won’t take anything you want.

Avoid key spending locals. Some of the spenders are dependable with their cash 95% of the time – however they have an Achilles heel. They could be light-headed all around but at the shopping center, for example, or they might have craving for deserts or coffee. If you see that it’s close to you try to escape such habits.

These are a couple of ways to prevent frivolous expenses. While you have money, try not to spend it. Put it on your bank account or take cash. Avoid using credit cards because you don’t know the count of money. It will help you to know how much money you have and how much you can spend.