Its one thing to talk about how to save money it is another thing to actually do it. Taking action may probably be the hardest between both.

I am not saying that I am an expert when it comes to money savings. But I do have some experience in doing it. The following are some money saving tips that I have applied and I believe can be applied to your life too.

1.) Be electric consumption conscious – With the rising cost of electricity this is probably one of the best money saving tips I could offer. Simply monitoring your electricity usage could save you a lot of money. This involves turning of appliances and lights that are not in use. Shifting to energy saving light bulbs will definitely help. We turn off our electric water dispenser and our refrigerator during the night time. Buying new home appliances makes a lot of difference in electric consumption. New home appliances are more energy efficient than old appliances. In the long run you save a lot on electricity. When we started becoming more electric consumption conscious at our house, our bill went down by almost 25 %.

2.) Save loose change – My mom has taught me a lot of money saving tips, but this is one that really stuck in my mind. Loose change may seem insignificant. I started collecting my loose change and after more than a year when my piggy bank was full, I saved more than P 10,000.00. ($200.00 U.S plus)

3.) Recycle – I have just started to implement this program. Instead of throwing away plastic, glass bottles and containers I started collecting them. Currently I have 4 sacks of recyclable materials that I am planning to sell at the end of the year.

4.) Not buying from the convenience store – Filipinos have commercialized “convenience stores” but we also have our small scale convenience stores called “Sari-sari” store. This is your friendly neighborhood store where you go to when you run out of shampoo or cooking oil. This may be all right if you badly need the stuff. But if your everyday needs in the sari-sari store you might end up spending more than you expected. It is expected that sari-sari store are more expensive than the grocery stores as they have already added some profit to their selling price.

5.) Eating out less – Among the money savings tips, this one is sure to save you money. Instead of eating outside why not bring lunch from home. Eating outside more will surely make a dent in your wallet. I am not saying that you can’t eat outside. If you are a “leisure eater” and you are fond of trying out new restaurants, schedule your restaurant visits at least once a week or once a month.

Do you like to know moremoney saving tips ? Visit the blog of Zigfred Diaz where he blogs about several interesting topics such as investments, money management, business, making money online and Stock market investing