Money Saving Tips

If you are lucky enough to have a job in this economy, it's likely that you are making the same amount of money as you were last year -- if not less. Even if you received a raise this year, that doesn't mean that you should go on a spending spree. While the economy is beginning to show signs of recovery, you never know when you might need to use your savings as a safety net.

You know that saving is important, but that's much easier said than done. Here are a few tips to help you stash away some of your pay check each month:

1) Plan & Research: You'll be amazed how much money you can save simply by planning ahead. If you know that you are going to need a new dress or suit for a wedding in 6 months, don't hold off looking until the week before when you will be stuck paying the asking price for whatever fits. If you start looking well in advance, you will have a greater selection to choose from and be able to watch out for sales.

While planning can help you save a decent amount of cash on smaller items, you'll be amazed at the hundreds and sometime even thousands of dollars that you save by planning ahead and doing your research when you are buying or renting big ticket items. When shopping for airline tickets, hotels, and rental cars check out Expedia and for apartments check out StudentApt. A little planning and research equals big savings every time.

2) Negotiate: After you have planned and researched your purchases, that doesn't mean your work is done. Many people are afraid to negotiate, but it's important to remember that the worst the sales person can say is, "no." Next time you are are making a major purchase try telling the sales person, "I'm really interested in making this purchase / lease, but it's not quite in my budget. What can you do for me?" Or, you can try telling the sales person exactly what your budget is and seeing what he can do to meet you there. You'll be amazed at how many times you will receive a discount just by asking.

3) Save: Now that you have planned, researched, and negotiated your way into saving some extra cash, don't reward yourself with an impulse purchase. If you have credit card debt, your first goal should be to pay it off. If you don't have credit card debt, you should begin to place your extra money in a savings account or even in an IRA.

If you want to learn more about money saving tips, click here to read on. Happy saving!