Sunday, January 25, 2009

Money Saving Tips

Here's some money saving tips for you all in tackling impending recession :)

1. The Envelope System

You decide in advance what your grocery budget & eating out budget will be (realistically, not just penny pinching). Then you put that amount of cash in an envelope labeled food. Make a grocery list & only purchase the items on your list. The important part is, when you're out of cash, don't charge the rest. You have to budget wisely. This is hard especially when eating out. You have to decide when there's no more cash in the eating out envelope, then don't eat outside! You will be amazed how effective this system works ;)

2. Use countdown / preset timer to limit the use of electrical appliances

Another way to save money is by limiting the amount of electricity usage via countdown / preset timer. For example, preset the time when the lights are on and off, preset how long the storage heater should run, and so on. This could help in preventing electrical energy wastage due to forgetfulness. Hope this helps :)

3. Use Front Load Washing Machine instead of Top Load Washing Machine

Front Load Washer use less than a quarter amount of water compared to Top Load Washer per wash ! And it wash cleaner too!

4. Use LED lightbulbs

Even though the startup cost of using LED lightbulbs are expensive, but it does save more $$ in terms of electricity bill and longer lifetime. I myself use a lot of them at home :)

5. Use electric fan instead of aircon

I am sure a lot of people know about this but unable to giveup the luxury of using aircon. In that case, how about using both alternately?

Does anyone has anymore tips? Do share with me here !

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