Save Money Frugal Tips

A large part of saving more money is making more money. That may seem either ridiculous, or really really basic. It took me quite a while to wholeheartedly embrace the ‘a penny saved is a penny earned’ philosophy. Now I am a die-hard Pinch the Penny cultist.

If you are having trouble making ends meet, or are trying to pay off debt or save up for a car, vacation, new couch, whatever, figuring out a way to make more money – even just a tiny bit more money – can be really helpful.

There are tons of fun places online where you can make money. Check out Get Paid Lots Online Income and Home Business Resource. While it is still under construction, you can find lots of ideas there already.

Most importantly, change your viewpoint about small sums of money. $5.00? Change a sarcastic “whoop-de-do, what good is that?” to an enthusiastic “I can save tons of money on interest by paying more on my bill this month.”

Are you getting a tax refund this year? If you are smart, you should only be getting a small one.

It is, after all, better to keep more of your pay check each month instead of paying more in taxes and getting a bigger refund.

BUT… if you do have a tax refund coming to you, there are several really smart frugal things to do with it. The following list show what you should do with your tax refund in the order the things should be done for maximum money savings:

1) Pay off interest-bearing loans or debt

The interest charged on debt or loans is the worst waste of money every. If you pay off your debts early or faster, you will have to pay less overall.

2) Purchase safe investments or save the tax refund money.

The best way to save money is to save money. Make your tax refund money work for you by putting it in a high yield savings account, or purchasing some safe investments such as CDs or money markets.

3) Shops sales for large ticket items

Earmark your tax return refund for purchase of large ticket items YOU ABSOLUTELY NEED! Purchasing a washing machine on sale may save you money over going to the laundromat every week. Buying energy efficient air conditioners instead of the old clunker hanging out your window will save money and is more earth-friendly.

4) Stock up on bulk items

Using your tax refund to stock up on bulk food, toiletries, and paper products is a great way to save money. Combine sales with coupons and fill your pantry with enough inexpensive goods to last till next year.