Money

5 Tips and Tricks to Save Money on Groceries Every Month

by James Flores|Posted on April 10, 2021 | 2 minute read | Advertiser notice

For most of us, groceries take up a major chunk of monthly expenditures and often exceed the dedicated food budget. We may put the blame solely on the increasing food prices. However, the truth of the matter is that we are also almost equally responsible for high grocery bills. If you also struggle to stay within your food budget limit, here are some simple yet effective tips and tricks to save money on groceries each month:

1. Compare Prices Online

Browse the websites of different grocery stores and compare prices for various items to find out which store is offering the best prices before visiting. You can also download price comparison apps to find the cheapest grocery store in town.

2. Plan Your Meals and Prepare List Accordingly

The best way to ensure that you only buy things you will use is to plan your meals for the week and prepare the list of items that you need accordingly. This will not only help reduce the grocery bill but will also avoid food waste.

3. Check Your Pantry

We often buy things at grocery stores making assumptions that we have run out of them. But, our guesses do not always turn out to be true. Often, we find things lying at the back of the pantry, hidden from your view. Therefore, it’s important to always check your pantry before going for grocery shopping.

4. Buy in Bulk

If you have a big family, buying in bulk can help you save a good amount of money, especially online. However, be careful when bulk buying and make sure to only buy things that you are certain of consuming, such as flour, rice, or meat.

5. Scan the Aisles before Buying

Before you grab a product from the center racks of aisles, always scan them from top to bottom. You will likely find better-priced items, most probably on the bottom shelves. Grocery stores have the strategy of placing renowned, pricier brands at eye level, in aisles, to increase their sales.

These tips and tricks may sound too simple, but they’re tried and tested. Use these tips to reduce your grocery bill without compromising on your needs.

Image Credits

Photo by Oleg Magni from Pexels

Money

3 Ways to Save Money in Everyday Life

by James Flores|Posted on March 22, 2021 | < 1 minute read | Advertiser notice

Do you struggle to save money? Then you’ve come to the right place.

The idea is to not make a big deal out of it. Practice these money-saving hacks on a day-to-day basis, and before you know it, you will have saved more than you could ever have with your piggy banks.

1. Always Make a List

Are you a shopaholic who seems to impulse buy a lot? Or do you find a use of everything you set your eyes on? Here’s a trick, as old as time, and has always worked. A list!

Every time you realize you have run out of something, add it to the list. Before leaving the house, make sure everything you need is there and then stick to it. The same goes for everything you are enthusiastic about, such as books, makeup, snacks, etc.

2. Stick to Cash

At the beginning of every month, take out cash that you are budgeted to spend and leave the savings alone. If possible, hide your credit card in the deep recess of your wallets only for emergencies.

Paying with cash limits and helps you stick to the budget.

3. Change a Few Small Habits

Your little habits can save you tons of cash in the long term. Do you eat out twice every week? Change it to one. Do you buy water bottles frequently, which end up adding to a small amount? Start carrying your water bottle everywhere, ride a bike, shop on sales, turn off the switch, keep your thermostat in check and rely on windows, fresh breeze, warm sweaters, and a heavy blanket.

With these little hacks, not only will you end up saving money, but you’d also end up improving your quality of life.

Image Credits

Photo by Andre Taissin on Unsplash

Finance

Make Sound Money Moves In Older Age – Investment Ideas for Seniors

by James Flores|Posted on February 21, 2021 | 2 minute read | Advertiser notice

Make Sound Money Moves In Older Age – Investment Ideas for Seniors

Retirement life has its own sets of perks and downsides. While you get to spend more time with your loved ones and enjoy life, in general, there is also a constant fear of running out of money. Ideally, everyone should start saving money for their retirement life in their 20s. However, it doesn’t always happen. Several surveys and research reports show that a large number of Americans are not saving enough to fund a comfortable retirement life.

If you belong to this group, your best bet to achieve financial security is to create a passive income stream. Following are some investment ideas for retirees and those close to retirement that do not involve many risks but will provide a decent return:

1. Fixed Income Investments

Fixed income investments do not provide great returns. But, they are considered safe investments because there is zero to very low risk of loss involved. Some of the most common fixed income investments include certificates of deposits, treasury bonds, municipal and corporate bonds, and government and agency bonds. Many companies also offer mutual funds, annuities, and other insurance products specifically tailored for seniors.

2. Dividend-Paying Stocks

These are basically well-established companies that disburse a part of their earnings among their shareholders. Since these are stocks, there is a bit of risk involved. However, returns on them are higher than fixed income investments. They also generally perform better in bear markets than growth stocks.

3. Real Estate Investment Trusts

As evident from the name, real estate investment trusts (REITs) are groups that invest in the real estate market, in mortgages or equity positions, and pay regular dividends to the investors. REITs are considered good investments because they are low-risk and provide good returns, higher than dividend stocks and fixed income investments.

These are three good low-risk investment ideas for seniors. While you can choose to invest in any one of them, it would be wise not to put all your eggs in one basket. A smart approach would be to divide your finances among multiple schemes.

Image Credits

Photo by Andrea Piacquadio from Pexels

Finance

4 Personal Finance Tips for Young Adults

by James Flores|Posted on February 11, 2021 | 2 minute read | Advertiser notice

As a young adult, most of us earn only enough to get by with day-to-day expenses. Any thought of saving doesn’t even cross our minds because of the sheer impossibility of it.

However, if we play our cards rights, even little savings can make a world of difference in the long run. Here are some foolproof tips for young adults to manage their finances:

1. Invest in Your Education

If there’s one expense you want to splurge in, make sure it is your education. Calling it an expense is illogical. Investing in your education can help you earn a lifetime of income. At this point in your age, think of specialized courses that will increase your worth as an employee and open doors of opportunities for you.

2. Start a Saving Fund

In our finances, we often forget to pay ourselves. Paying for the house rent, transport, college debts, necessities do not count as paying yourself. Every month, take any amount that you can spare and piggy bank it away.

This saving fund will feel like an absolute blessing when you’ll find yourself in an unexpected situation in the future.

3. Think Every Purchase Through

This is one of the best tips to follow when you are saving money for a better future. Every time you are going to buy something, ask yourself, ‘do I need it?’

4. Gift Yourself

To young folks, material possessions appear extra appealing. To dissuade yourself from impulsive buying, allow yourself to purchase just one thing within a budget each month. This way, you’d think long and hard before making a purchase.

Saving money doesn’t mean you can’t have fun; it just doesn’t necessarily have to involve spending money. You can always read books at the library, try amazing new recipes at home, and enjoy the outdoors. Look out for free or low-cost fun activities and follow these saving tips to build a financially secured future for yourself.

Image Credits

Photo by Alexander Mils on Unsplash