Save money ideas- how to put an extra $200 in your piggy bank every month

In this current financial recession money is in short supply and many families find it difficult to put food on the table never mind save a few pennies. If your pockets are empty and cash flow is low here are 5 save money ideas to put an extra few hundred dollars in your piggy bank month after month.

1) Save dining out for special occasions

Eating out is an expensive hobby, especially for those that have large families or do it more than once a week. Try sitting in more and preparing cooked meals which tend to be cheaper and healthier.

2) Cut down on electricity use

There are many ways to reduce your electricity bill such as switching off lights and sockets which are not in use. Additionally do not overfill kettles and teapots as you have to use excess electricity to boil water you are not actually going to use.

3) Car share

If you live nearby to a few work colleagues why not take it in turns to drive. If there are four of you this reduced your petrol/gas bill by 75% a month. This is quite significant a saving if you drive over 100km a day to work and could save you over $100 a month with rising gas and petrol costs.

4) Pay off high interest credit cards

It is sickening the amount of interest store cards and other credit cards add on to your already pending debt. As soon as you get the money together it is best to clear these cards and then hide them at the back of your purse so you are not tempted to use them again. Clearing your cards will lift a huge weight off your mind too.

5) Keep a piggy bank

You should hide a piggy bank in the kitchen cupboard and every time you have some loose change place it in the piggy bank. You will be surprised at how your change will add up over the months. Fifty cents a day makes $15 a month, and $180 a year.

It is recommended to put your saved money into a high interest bank account which will give you more money back in the long run.

These 5 save money ideas will help you save for a rainy day, a new car, your retirement or the unexpected, and remember every little helps.

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