Finance & Saving's Blog To Help You

The dealings of the money ultimately comes in two categories, the spenders and the savers. A French man saves 16 percent, an

Irish man saves 19 percent, whereas an American man hardly saves 4.5 percent of his income. Which simply means that the Americans are spenders and not savers. It is believed that the Americans had not learned much from great recessions about saving for rainy days.

History had many evidences that clearly dictate that American lack the quality of saving money, especially the records of the last three decades had shown that these people do not bother to think for their future time.

It is in the very genes of American to overspend and under saves for coming years. These people live the life of today without worrying about the future days, no matter how critical the days probably are. The series of interviews were conducted to read the mind of people where most of the American clearly said that saving for the retirement is not their priority, but they do not admit this fact and will to pull them out of the list of spenders. Also a lot of Americans are so poor that they cannot afford to save, some others had serious medical and health issues like delusions that become a hurdle to save for the rainy days.

A recent survey of the Association of Mature American Citizen showed that one third of Americans have less than $1000 for a rainy day. The average 50 year old has less than $50,000 in savings, quite astounding but a fact.

It is quite a controversial question that why Americans are spenders and not savers. Another survey revealed that the government of the America does not provide certain incentives for low and middle class workers, so it is not possible for them to save a particular amount per annum for the rainy days. The lower income Americans received less than 1 percent of federal tax benefits so how can they save for their retired life? On the other hand it is quite unfair to notice that high income earners are receiving 70 percent of federal tax benefits.

A report of the Consumer Federation of America notes that only one third of the population of America lives with the feeling of future comfort. And the rest are struggling hard to fulfill the necessities of their lives. It does not surprise the reader because unemployment and underemployment rates have remained high since the president Obama took the charge of the State.

This post was written by my friend Archie Kirby of Time To Break.

Being able to save money on monthly expenses is like a story only heard about in the books. But it can be accomplished through spending the money very carefully and recognizing that even though some of the regular bills might seem minor and insignificant on their own, their cumulative effect can be huge.

In order to minimize the loss caused on a monthly basis, everyone obviously does should look for ways to cut expenses that are both easy to implement and effective. Read on to discover the few ways you can save money by just trying them one at a time, without too much hassle, but offer the potential to save giant sums of cash over time.

1. Write down your expenses: Make a list of all your monthly expenses on the first day of the month and divide the cash in your bank accordingly.

2. Use public transport: Cars, being the money pits that they are, devour fuel by the gallon besides requiring all types of expensive maintenance. Given that you have access to public transportation (buses, trains etc.), you can be sure you will be saving quite a bit of money on parking tickets, gas, and maintenance over time.

3. Carpool: Moreover, rideshare services like

ZipCar and Uber make it simpler than ever before to forego buying a car when in major cities. Also, carpooling with colleagues to go to work every morning can be very beneficial.

4. Cut down on Electricity Bills: The average house spends around $2,200 a year on these. Luckily, technology has brought us a few effective ways to improve energy efficiency and lower that number. Install LED light bulbs and be energy efficient!

5. Money spent on Entertainment: Unnecessary club memberships, cable bills etc. can add to your monthly expenses greatly. Eliminating or reducing other regularly paid services can be your best bet.

6. Money spent on food: Try to eat out less frequently. Cooking meals at home can be a lot healthier for your family AND your bank account.

7. Cell phone bills: Many cell phone companies love to give offers in a nice price; take advantage of the deals and packages available.

8. Telephone: Consider VOIP like LocalPhone or cable phone services. However, in case you choose to stay with your traditional telephone company, make sure you are getting the cheapest long distance service and are not paying for services you do not need/use.

9. Internet: Do your research. There are many options for Internet services including cable, satellite and a variety of wireless Internet options. Choose the best one so that this can also compliment your attempt to reducing the telephone bill.

10. Refinancing your Home: Refinancing your home is what may have the greatest effect in cutting your monthly budget expenses, it sometimes saves you hundreds of dollars per month! However, study before you opt to this.

11. Credit Card Interest Expense: You can do this simply by asking for a lower interest rate.

12. Companies will accommodate in order to keep your business. In case they do not, you have the option to balance transfer to another card that provides a better rate.

13. Shopping trips: Try to reduce the number of trips you take to the mall or the grocery store because you are more likely to buy unwanted stuff if you visit the store many times.

14. Shop wisely: Buy things that are on promotion and in bulk.

Extra Tip: Trips to the salon/spa: Reduce your grooming expenses, learn to do things yourself at home.

15. Survey the stores near you: Compare the prices of products in different shops in your area, you might be surprised.

16. Insurance: Look around for car insurance. Make sure you are getting the lowest price.

17. Coupons: While purchasing online, check deals and coupons website like Coupofy.

18. Unnecessary things: Money spent on stocks of unnecessary snacks should be taken care of.

19. Dry clean: If you are a regular at your dry cleaners, cut costs by buying a home dry cleaning kit and a spot remover pen.

20. Negotiate for lower prices: Always try to negotiate where you see the slightest possibility of negotiation.

21. Get rid of consumable habits: Alcohol, smoking etc. These habits can be very, very expensive.

22. Make it a habit of paying by cash more often: This way, you can also monitor and control your expenses!

23. Travel: Avoid unnecessary travelling frequently.

24. Waste less water/gas: Significant reduction in your water/gas wastage can do wonders on your water/gas bills.

25. Others: Avoid giving expensive gifts, buying expensive toys for your children, buying luxury items etc. and you shall see a significant difference in your budget.