This document provides tips for saving money in different ways such as saving responsibly by paying yourself first, avoiding debt, setting savings goals and keeping a budget. It also suggests cutting expenses by reducing luxuries, housing costs, food costs, energy usage and transportation costs. Additionally, it recommends spending money intelligently by prioritizing essentials, an emergency fund, debt repayment, savings and non-essentials before luxuries. Specific tips include overestimating expenses, saving change, using affirmations, matching hobby spending to savings, enjoying free entertainment and sharing items with friends.

1. DIFFERENT TYPES OF WAYS
TO SAVE MONEY

2. ❖ Saving Money Responsibly .
1. Pay yourself first.

3. 2. Avoid accumulating new debt.

4. 3. Set reasonable savings goals.

5. 4. Establish a time-frame for your goals.

6. 5. Keep a budget.

7. 6. Record your expenses.

8. 7. Start saving as early as possible.

9. 8. Consider contributing to a retirement
account.

10. 9. Make stock market investments
cautiously.

11. 10. Don't get discouraged.

12. ❖ Cutting Expenses.
1. Remove luxuries from your budget.

13. 2. Find cheaper housing.

14. 3. Eat for cheap.

15. 4. Reduce your energy usage.

16. 5. Use cheaper forms of transportation.

17. 6. Have fun for cheap (or free).

18. 7. Avoid expensive addictions.

19. ❖ Spending Money Intelligently.
1. Spend money on absolute essentials
first.

20. 2. Next, save for an emergency fund.

21. 3. Next, pay off your debt.

22. 4. Put away money next.

23. 5. Next, spend on smart non-essentials.

24. 6. Spend on luxuries last.

25. How To Save Money Tips
⚫Always overestimate your expenses and underestimate
your income.
⚫Take care of your possessions. In this way, you'll need to
replace items less. Also, don't replace items until it's
absolutely necessary. For instance, just because a motor
in an electric toothbrush breaks doesn't mean it stops
functioning as a toothbrush. Continue to use it, and
when ready go buy a new one or check the warranty.

26. ⚫Make purchases with paper money, not exact change,
and always save the change. Use a piggy bank or jar for
your coins. Coins and change may look insignificant but
when accumulated over time they can help you save.
Some banks now offer free coin counting machines.
When you redeem your coins, ask to be paid by check
so you won't be tempted to spend your new found cash.
⚫Every time you go to buy something think of the thing
you are saving for and the rough percentage of your
savings so far that the thing costs and quite often you
won't buy it.
⚫Use affirmations. For example, repeat this affirmation to
yourself until it sinks in: Debt is not an option.

27. ⚫If you get paid about the same amount on a regular
basis, it'll get easier to budget your money over time. If
you have a variable income, it'll be harder to anticipate
your expenses because you won't know when's the next
time you'll get paid. List your budget categories in order
of importance and fulfill the most important items first.
Play it safe; assume it'll be awhile before you get money
again.
⚫If you receive unexpected cash, put all or most of it
into your savings, but continue to set aside your
regularly scheduled amount as well. You’ll reach
your savings goals sooner.

28. ⚫Even if you REALLY want something, ask yourself,
do you REALLY need this? More than half of the
time it will be a big no.
⚫ Most people can save something regardless of their
income. Starting to save a little will help build the
habit of saving. Even saving as little as $5 a month
will teach you that you don't need as much money
as you think.
⚫ Try to find at least one penny on the ground everyday.
Put the money you find in a jar and see how fast it adds
up!

29. ⚫If you can't bring yourself to destroy all your credit
cards, at least freeze them. Put them in a container, fill
it with water, and stick it in a freezer. That way, if you
feel the urge to use credit, you have to wait until the ice
melts, and during that time you may come to your
senses and realize you don't really need to buy what you
wanted to buy.
⚫ Have a hobby? Match your funds. One important habit
for saving is if you have a hobby, such as model
airplanes, scrap-booking, dirt biking, scuba diving, etc.,
set a hard and fast rule that whatever you allow yourself
to spend on your hobby, you match those funds to your
savings. For example, if you buy yourself a $45 pair of
riding gloves, another $45 goes to your savings.

30. ⚫Serious about saving? Try doubling your matched
funds! These savings plans will do two things: Save
money regularly and quickly, and really show you how
much you are spending on your hobby, when it costs
you twice as much.
⚫Enjoy the simple pleasures in life. During the Great
Depression, people still had fun, just not lavishly
expensive fun. Children had soapbox derbies, teenagers
had dance contests, and everyone played Monopoly, did
puzzles, read, and listened to the radio. Get together to
discuss philosophy or pray; play poker or make crazy
quilt pillows; play instruments and dance. In those days,
it took some imagination and ingenuity, but they had
plenty of fun, and so can you.

31. ⚫If you can afford to share things you have, from food to
living space to appliances, try to do so. What goes
around comes around when it's between close friends,
soon enough, you'll find your friends doing the same,
and everybody benefits.