The Best Way to Save Money is to Use Your Noodle

 

Everybody wants to learn how to both make more and save more money. It’s part of the human condition, especially when that human is on a really tight budget. There are loads and loads of articles out there that will teach you how to make more money. In this article, we’re going to teach you about all of the ways to save money on the things you already buy. Maybe you want to save on entertainment. Maybe you want to save on groceries. Whatever your motivation, here are some of the things you can and should do if you want to increase your savings.

1. Always Do Your Research

Some impulse buys are okay. That piece of chocolate you buy at the register when you pay for your groceries is probably fine. The couple of bucks you plunk down for a last minute soda or cup of coffee when you feel a little sluggish are also fine (as long as you’re not doing this multiple times per day every day). Where you run into trouble, though, is when you see something expensive and shiny and decide to buy it “just because.”

It’s important to always do your research and to learn about every big purchase–and when you’re on a budget, a big purchase is anything over 10 bucks. Find out if there might be competing products that do the same thing for a smaller price point. Look for recalls and complaints. For example, the people who are now lining up for a Fuelband refund might be okay with their $25 gift cards, but they’d probably have been happier with a product that performed as advertised!

2. Take Advantage of Rebates

Pay attention to money back offers and rebate deals. Usually, these offers require some work on your part–filling out a form and mailing it in, taking a survey, etc. Spending a few minutes of your time doing these things might feel annoying, but it’s worth it if you can add some extra bucks to your rainy day fund.

It is important, however, that you pay attention to the fine print on these rebates. For example, don’t spend an hour of your life filling out an extensive survey just to get $3 back from the hair dryer you just purchased.

It is also important to make sure that the amount of the rebate is not a distraction from a raised price. Many companies will do this–they’ll raise the price of their product by $3 and then offer a $3 rebate for a month or so to see if anybody even notices the difference.

3. Join Clubs

Your grocery store likely has a loyalty program. Join it! Even if you might not necessarily care about the big rewards offered by the program (for example, it’s hard to get jazzed about a discount on gas if you ride the bus), sign up for a card. Loyalty program members often get extra discounts and deals that regular shoppers do not. Many programs also track the amount of dollars you spend and will send gift cards for the store based on what you’ve spent over the last quarter.

It’s also a good idea to sign up for a membership loyalty program offered by your favorite brands. They often send manufacturer’s coupons for discounts on that product. You might even get free products from time to time.

4. Be Wary of the “Sure Thing”

Many companies out there want your time, your attention, and (especially) your money. These companies promise that if you just watch a series of videos you’ll get paid big bucks. They promise that if you join their program for $X per month, you’ll actually save $Y over the long haul by shopping through their site or by clicking on their ads.

Some of these companies are legitimate. Swagbucks and EBates are two of them. There are others, though, that will try to trick you into thinking you’re getting a great deal when you’re not. Always read the fine print and do your research on a company before joining. If it costs money just to join, run in the other direction. If you see phrases like “for the chance to be entered into a drawing to win” that’s a red flag.

The point is this: there are lots of ways to save money both on what you’re using now and for the future. The key to all of them, though, is to tread carefully and be smart. Don’t jump in because it looks good. Learn and make an informed decision before you commit.