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Keep an Eye on Those ‘Savings’

Saving money
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Making sure you’re actually saving money chasing that bargain

Saving money is a worthy endeavour, and takes many shapes and forms. From using vouchers to trying to save tax receipts, there are plenty of ways you can work to stretch your dollar to its best. The problem is that not everybody has your best interests at heart, and not every piece of advice is worth listening to. This article is going to go over some of the common false tips, and how you can still make the best of them to force your dollar further.

keep an eye on those savings

Fuel

People often work to get a bargain, and this can include making long drives just to save a few dollars. Don’t get me wrong, there is a time and a place where driving a bit longer can be worth the savings, just be sure to do the math before you wind up losing the money you saved on groceries to your fuel tank.

Shipping costs

Online shopping is a fantastic way to save cash, but it can also be a huge way to hit your wallet if you don’t watch out carefully for shipping costs. Shipping costs add up, $5 here, $15 there… and again, sometimes still makes the bargain worth it, but sometimes the shipping plus the cost of the item just pushes the limit a bit too far. Again, this is just a simple case of needing to do the math, make sure you’re saving money by buying online by factoring in the shipping costs as part of the expenses.

Parking

Driving instead of taxiing or Ubering constantly can save money, but parking is a new cost to factor in. Always keep in mind the time left on a parking meter, as it can go a long way to determining whether walking across the mall for that coupon redemption is worth it or not.

Using time wisely

Finally, consider how your time is best spent. Bargain hunting is a great way to save money, but you could also be using the time it takes to track down that bargain to sell some unwanted items online, or maybe to put in some overtime at work. This is not to say you should never bargain hunt, but rather that you need to consider how you’re using your time to make sure you’re using it wisely – and cost effectively.

Making sure that you’re saving money isn’t always easy, but it always pays off (literally). A lot of avoiding the pitfalls of false ways to save money involves paying attention to how you’re doing it and making sure you’re actually being the most effective that you can be.

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