Money Saving Tips on Groceries

1. Start with arranging items properly in your shelf for easy accessible. This would help you to shop an item which really exists somewhere in your cupboard but you have not found it before heading off for shopping.

2. Practice your grocery shopping once in a week. Give preference to weekday shopping than week end. This is just logic. There are possibilities of price hike by shop keepers in week end days due to the visit of lots of customers.

3. Always have a grocery shopping budget in place before going for shopping. Make a list of all items that you need to buy. I am sure; it is not possible to make a perfect list on before going to the shopping. One best practice to not miss any required item is by noting down it on a book or diary. Keep it in an easily accessible place only for that purpose and note the items when you remember it. This would help you to have right list to carry to the grocery. Yes, this will help you save lots of money.

4. Always have a practice to check all your carts to identify any item from your shopping list still remaining there are enough. This would help you to eliminate any items that is ‘wants’ rather than ‘needs’

5. Never go for a quick shopping! You could identify enough time for shopping. Quick shopping is a reason for losing money. Plan your shopping properly and take enough time.

6. Plan to buy items in bulk if you have option to store it. This would help you to save some good amount of money.

7. Eat before you go grocery shopping. You will spend less money at a grocery store if you shop when you are not hungry and are not tempted to buy more food.

8. Always shop alone. Bringing along children or your spouse to the grocery store will make you spend more money on the items that they want that aren’t on your list.

9. It is a best practice if you visit multiple stores and compare prices of regular buying items. This would help you to immediately identify the best place to get required items with comparatively less price with other stores. Creating a price log in your notebook would be an exceptional idea!

10. Inside the grocery, have a practice of roam before start picking items. visit and check each and every bay and shelves. This would help you to identify the availability of similar items but different price.

11. Many times shoppers will only buy products found at eye level. Cheaper stock is usually found on the lower shelves in grocery store aisles. Being lazy to bend down may cost you more money.

12. Don’t be brand loyal. Buy generic products. If a generic or store brand option is available, always choose it. Most of the time, both products use the same recipe and you are paying extra money for the name only. This would help you to save lots of money for long run. However remember, most of the time this point applicable to food items. It never applicable to pharmacy items, child care items etc.. you should have enough intelligence to identify to what items this point really applicable to.

13. It is a best practice avoiding readymade food items. This would cost more. Never buy any ready made item that you feel you are able to cook. This would help you to save money as well as tasty food.

14. If you are into the grocery, shop for only grocery items. Don’t buy non-grocery items at the grocery store. It may costly for you as these items generally priced much higher than discount store equivalents.

15. Remember, shoppers generally place various items nearby the payment queue. Candy, magazines and other useless gadgets generally fill in the sidelines of grocery store checkout lanes. These items typically represent the highest margin products for grocery stores and the best to tempt customers. Shop keepers looking for customers to spend after paying left over money to spend on these items.

16. It is a better idea to weigh items like vegetables before approaching to reach to the cashier. This would help you to avoid weighting mistakes happening due to any errors or purposely.

17. Remember to keep an eye on scanner to confirm any sale item scanned with right price as mentioned in the ‘sale’ tag. This may help you to avoid paying original price than its ‘sale’ price.

18. I never say to avoid any item that kept with a ‘sale’ tag. But, remember there would be some hidden intention behind adding ‘sale’ tag on items. Look closely to identify these intentions. For example, items reaching to the expiry date, quality less, items with manufacturing defects can be found within this deal.

19. I never against buying any item coming with a ‘free’ offer of anything along with. Before buying such items, watch the price of item closely to identify possible price hike due to giving another free item with it. Also, look on the free item to identify it is a valid one in the sense of expiry date, quality etc… Never buy any item coming with free offers once the free item not useful for you. Like the above points, it is certain there would be some hidden intention behind such deals too.

20. Previous idea again applicable to buy ‘one and get one free’ deals too. Check the original prices, quality, manufacturing perfection etc…, within such deals too.

21. Always carry enough bags with you to avoid losing money by buying carry bags from the grocery. This would sometime helpful to get some discounts from the offer from shops for those who carries own bags.

22. Never use phone shopping especially for groceries and never opt door delivery. This could cost you additional money!

23. Never feel free to ask for special discounts if you are a regular visitor. You may sometime get a consideration which helps you to save money.

24. Finally, be always conscious to check your bills line by line before moving out from the shop. This would help you to save any money you have spent more than the real price or from scanning, data entry mistakes by cashiers.

21 Best Practices for Credit Card Holders

Now, you are comfortable with having enough knowledge on the advantages and disadvantages of credit cards. You may now decided to have some personal rules to use your credit cards wisely to prevent it from turning as a worst enemy or finance destroyer. To have more advanced knowledge in each points to take care as a card holder, you can now read 21 best practices given below. These highly effective best practices would certainly save you from errors and protect you from various problems.

Go carefully through each points below and practice it to enjoy your credit card facility as a wise spender or intelligent shopper.

1. If you lot your card, report it immediately to the credit card company and block the card as early as possible

2. Never loan your card to others

3. Check the authenticity of sites and companies where you are going to give your credit card information. Only give your card information to trusted sites and companies

4. Keep track of all your purchases using credit card, separately

5. Check your statements carefully at the end of each months against the record made on purchases, to confirm everything is correct.

5. Pay off all the balances as soon as the bill received, at the end of each months

6. Always prefer to subscribe a no-fee credit card to prevent lose of money in each year as credit card fee.

7. Never use credit cards if you are not sure you are able to pay in full as soon as the bill is reached.

8. Know that the interest rates for taking cash advance start accumulating immediately and not in the base of monthly due date.

9. Minimum monthly payment is a trap. It is only helpful to increase your help and pay more interest. If you are not able to pay the bills in full at the end of each month, it is best to not use the card.

10. Always remember credit cards are for emergency purposes. It is best to use debit cards instead of credit card to get aware of your money spending and control on your own money.

11. Credit card users should practice patience and control temptations. Both would helpful only to put you in debt trap.

12. Be aware of mails and other hoaxes asking your credit card information. Upon receiving such, do not respond to such, but delete it immediately.

13. Ensure you have signed the back side of the card upon receiving the card first time. If not do so, someone else can sign on it and can use the card as their own and you may need to pay for that.

14. Never respond to any unsolicited application forms reached to you from credit card companies or anyone else. Destroy such forms immediately.

15. Before signing up any application to subscribe a credit card, read carefully especially the terms and conditions. It is a best practice to take a print or copy of the available information in the card for later use.

16. Never write your PIN or such important information on the card or anywhere in the wallet where people can have access in case any of these stolen.

17. Any caller asking credit card information over the phone, never give that. Check the authenticity first before making any move.

18. Store your statement separately for future possible references. If you not need them, shred it immediately than throwing somewhere.

19. Change of addresses must be informed to the company immediately. However, if possible use the feature of having statements in e-mail than physical format.

20. Never carry with a credit card library. You may required only and the only one properly selected card to meet all your requirements.

21. If you have found any discrepancies with the statements like over charges, extra charges, notice the same to your card company within a prescribed time to do so.

Easy Ways to Teach Your Children About Money

In this article, you can fine the simplest, possible methods, tips and tricks to teach your children about the value of money and how to deal with money intelligently. Whether your child is in the age of over 5 years or a teenager, this article intended to provide them standard awareness on money and learn the value of money through parents. The only requirement from the side of parent to make your kids money aware, is to involve them money related activities doing by parents at various places including home.

1. At the very first, let the child learn about what is saving. A piggy bank is more than sufficient to teach them about saving. Encourage them to deposit money in it. Let them be in love with their piggy bank and save money little by little under your supervision. One of the serious mistakes found common between parents at this point is, either they will take money from kids piggy whenever they required or they will take the whole money when piggy bank full. Remember, if you do any of this mistake at the presence of your kid, you are leading them to the hell than heaven. Never loot kids money or claim their money. Let them manage it. who knows they have any little plan with their money later?

2. Higher level of saving – Take them to the banks whenever parents visit and let them understand what all happening there. Answer each of their question wisely and allow them to deal with bank people at your presence and complete supervision. Let them do the activities of giving money or taking money from teller, putting the PIN in ATMs etc.. Make them good awareness on banks, banking and the services available there. Do not miss anything. Especially when you are taking FD’s or another saving methods, explain them the advantages and why you want to do so.

3. Teach them about investing – If you have a practice of investing in stocks and mutual funds, take your children with you. Explain to them what you are doing and why you are doing. Providing an awareness on what to do to grow money and the risks associated to each is a good idea. Encourage them to have a deep knowledge on money and investments.

4. Never blame them if they lose money or made any mistakes at the beginning. Blaming would disappoint children. Instead of blaming, inform them what happened and why it happened. Advise the methods to not happen such mistakes in the future. Always remember, children would make lots of mistakes and parent should take it as a better opportunity to teach them to not make such mistakes in the future than blindly blame kids.

5. Teach children to spend money wisely – Your activities during the shopping would certainly influence your children. If you are a hurry picker of items as soon as reaching to the shopping center, your kid also would come as a hurry picker in the future. Instead, use the best practices required while shopping like preparing lists, lokking for discounts etc.. at the presence of children. Ensure you are teach how to get best and cheap items each time.

6. Teach children about budgeting: If parents don’t have a practice of having budgets, they don’t have any option to teach their children about budgeting. Explain them the advantages of budgeting and how it comes useful to manage money intelligently. Involve children at the time of making your home budgets and encourage them to make their own budgets. Teaching your children about budgeting is one of the best gift parents can give.

7. Let your children to read statements – Reading financial statements and comparing them with the original bills is a great way to teach children on how to avoid money lose. whenever you are doing such, involve children to that. Comparing shopping bills, utility bills, credit, debt card statements, bank statements are the best time to teach children about this. Remember to give answer to all their questions and clear their doubts on the regard, patiently even though it would sometime irritate you.

8. Bring your children in financial discipline – Best option to bring your children in financial discipline is, the parents should be well disciplined first. Involve them whenever making recurring payments in each month and inform the the dates you are making various payments like utilities, credit cards etc.. Make them aware of being disciplined to make such payments in time and the result of not making payments in time such as penalties etc…

9. Money Saving tips for children – Teach them necessary money savings tips in the home itself. Wastage of electricity and how to prevent that, wastage of water and how to prevent that are some of the best practices to teach and save money. Practice possible money saving tips at the home, travel, shopping etc.. with the presence of your children and encourage them to do such as their own.

10. Appreciate them time to time with small gifts whenever they are doing right things in personal finance. Such encouragements would provide them more interest to do best things in their life to grow with money aware.

Important notes to parents:

Patience is one of the most required when teaching children about personal finance or money matters. They would ask lots of irritating questions and parents should answer them patiently and completely. Always make sure to provide the advantages and disadvantages of each action. Allow them to do small transactions, shopping at your presence and guide them to do all this well without making any mistakes.

Never blame children whenever making mistakes, instead, make them understand what mistake they have made and the impact of such mistakes and how could avoid them. Be ready to face lots of mistakes from your children at the beginning of their learning and understand that is the first step to acquire real financial wisdom.

Parents should act as the first source to get necessary money and personal finance to kids at their very early ages. That would certainly bring them in money awareness and money wise in future.

Each parents should provide then knowledge on the following points at the earliest:

– Spending vs Saving
– Wants vs Needs
– Set Financial Goals and work for that
– How to Plan to meet expenses
– How to track income and expenses
– Help to create their budget for month, quarter, half year or year
– Banking
– Help to make their own savings and investing plan
– Present children books on personal finance and money managements
– Teach money saving tips