How to Save Money on Purchases

How to Save Money on Purchases

Saving money is important to all of us.

Like time, once the money is spent, you cannot get it back. You can make more money, but the power that the money held is gone. It’s fun to shop. But it’s a lot more fun when you plan wisely what you will spend and stick within your budget.

To young people entering college, I know this doesn’t seem exciting. But in this post, we want to take a look at how you can save money on several items including significant purchases like vehicles, housing, and clothing.

Start with a budget

Budgeting is a French word meaning, “a small purse.” If you can think about how you want to carry enough money around to pay for basic expenses, without spending too much money in any one area, that is a practical application of a budget.

Budgeting was never meant to be a hindrance, but rather to control your spending better so that you improve your quality of life.

Some good podcasts and books address this idea. First, read You Need a Budget by Jesse Mecham. He tells his real-life story about how much he struggled with money when he and his wife first married, then moves onto to talking about how he developed a plan that will work with most any budget that involves “assigning every dollar a job.”

Another great resource is the Mint.com app. This handy mobile application lets you keep track of all your expenditures, track your spending and plan your future budget.

Finding a great deal on a home is important because housing is usually at least 25% of one’s income. Purchasing a vehicle is also a major expense, so do your own research and compare rates between car companies before making a decision.

Online shopping varies, but there are plenty of coupons for clothing stores such as online coupons at Groupon.com and many other coupon sites. When you are shopping, simply type in “coupons” after the brand name that you are searching for coupons for and you will get a variety of coupons for that brand.

Some companies such as Honey.com offer online apps that come up and make recommendations for better deals while you are shopping so you can get a better deal.

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