Save Money Frugal Tips

It may be hard, in these tight economic times, to put any money in a savings account at all. While you should concentrate on paying off debt and making sure your family has enough every day, growing your savings is just as important – if not MORE important – than ever.

Am I saving enough money?

Unemployment rates have reached record highs. Businesses are closing and laying off all their workers. Credit is tight and people can’t get loans for new cars or other purchases. Building a substantial savings account is necessary these days.

But the question still remains, “Am I saving enough money?”

Recommendations range from saving three to six months worth of income and keeping that amount on hand at all times. This should give you a cushion, especially if used frugally, in the time before you find another job. However, in this job market, finding a job might take longer than three or even six months. Harsh reality, but important to deal with.

I ask myself this question just like you, “Am I saving enough money?”

Being self-employed, I have to save for all my tax payments, my living expenses, and put aside enough to fill a savings account. Of course, taxes and living come before the thought of putting money aside for a rainy day. But I still schedule a certain amount of money going into my savings account every month, so I do not have to worry, “Am I saving enough money?”

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Save your money and one day it'll return the favor.

People struggling in this tough economymay ask themselves, “Am I saving enough money for emergencies?” If you are unsure, or feel that you have no extra money to put in savings in case anything goes wrong, reevaluate your personal finances and tweak your budget to include more rainy day money.

Am I Saving Enough Money for Emergencies? – Read More Here

How much should you save for emergencies?

A general rule of thumb is to save 3 to 6 months worth of living expenses. This amount is most important in case of job layoff or illness. When you have this amount of money put aside, you can use it as well for incidental emergencies such as plumbing problems or car repairs. The money you take out for these things should be repaid to the account as quickly as possible.

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Have you ever started a home improvement project and found you needed a special tool to complete it? A trip to the hardware store lets you finish the job, but puts a dent in your bank account for a tool you may never use again. The same issue arises with yard tools that are used only occasionally, such as hedge trimmers or edgers.

How to Save Money on Tools and Yard Equipment

These things can cost big money. But you can you save money on tool and yard equipment purchases if you follow some of the ideas listed below.

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Nothing says summer like a new pair of sandals. But who wants to drive around in the heat looking for that perfect pair of shoes? Skip the mall and go to your computer for your next pair of hot summer sandals. Shoe shopping online has never been easier, more convenient and affordable. By learning a few strategies you can be wearing cute Tommy Hilfiger sandals within a few days without paying the designer price.

Shoe Shopping Online Saves You Time and Money – by Rissa Watkins

Learn how to save money on shoe shopping (a favorite past-time of ladies everywhere!) by comparing prices online.

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