Saving Money 

Collecting, what ever form it takes can become an overwhelming addiction. The very large number of different products available on Ebay is the equivalent of locking an alcoholic in a distillery. The little parcels arriving every other day from around the world. The instant method of payment using PayPal, Bidpay, the extended credit given by a score of credit card with out any stops or checks and before long you are addicted and in debt. 

Here are some tips to help you save for the purchase of your next acquisition. On Ebay it is almost universally true that if it turns up once it will do again be it next week or next year.

• Use e-mail. If you already pay for Internet access, use it! E-mail communication is a great way to cut long-distance phone charges. 
• Pay bills online. The cost of a stamp may seem small, but postage adds up, as do late fees when you forget to pay bills on time. Consider signing up with a secure, automated online bill-paying system. 
• Minimize banking fees. Open an account with a bank or credit union that doesn't charge service fees. Make your ATM withdrawals at free machines, or use a debit card instead of cash. 
• Assess your insurance. Check annually for better premiums. Once you establish an emergency fund, increase your deductible on some insurance to reduce premiums further. 
• Quit smoking. A pack-a-day habit can easily cost thousands a year. That's money that can go right into your bank account. Not to mention what you'll save on insurance and health care. 
• Save on utilities. Consider turning down the heat or air conditioning at night and while you're at work. 
• Analyze your phone needs. Do you really need more than one phone line? Use budget-tracking software to see what a difference dropping a line could make. 
• Comparison shop. Don't cut corners with your favourite groceries - you won't save for long if you feel deprived. But do compare. For example, generic products often have the same ingredients as brand names yet cost less. 
• Buy in bulk. Pair up with a friend so items don't go to waste before you consume them. 
  Think twice on clothes. Impulse is your budget's greatest enemy. Make a list of clothes you need and stick to it, or give yourself a monthly clothing allowance. 
• Keep your car. Put off buying a car for a couple more years. If your car loan is paid off, continue transferring the amount of your monthly payments into a savings account for a new car. Use your financial software to schedule the purchase into your future budget. 
• Be smart about entertainment. This is a big one. Think about using your local library to borrow books, music and movies. Eat out less often. 
• Buy used. You can save several thousands by buying a car that's just a few years old and investing the difference between the price of a new and used car. 
• Slow down. Flooring the gas pedal is a waste of petrol and money. 
• Banish instant gratification. Don't be tempted to put "bargains" on your credit card. Wait until you've saved enough cash for major purchases and save hundreds of dollars in fees and interest
• Buyer protection

Subminiature forsale index

Last updated 5th March 2003.