Take notes to save money

Tuesday, 03 November 2009

A recent article on an American money-saving website advocated the simplest of ideas for saving money: take and keep notes.

It sounds too simple; how can that help?

The article argued that by keeping a notebook and using it all the time, you can keep track of prices, of items you need to buy, and it will enable you to make improved purchasing decisions, thereby saving money.

There is little doubt that the current generation of over 70s still has a psyche not to overspend and waste money (whereas the younger generation tends to “replace it if it’s broken”), so keeping a notebook of needs, prices and bargains could be of great appeal.

The article suggested using the notebook in the following ways:

1. Writing down sale prices (to compare – is it really a bargain?)
2. Keep a rolling grocery list (to prevent impulse buys)
3. Compare bulk prices (can you save on long-term items?)
4. Note down gift ideas (for future birthdays and Christmas)
5. Make a list of staple prices and compare

How often do we make a mental note to remember that gift idea, or that bargain, but get home and entirely forget to do so? A shrug of the shoulders says it won’t matter, but there are so many savings to be made.

Many of the younger generation might use their phone as a notepad for this purpose, and if you choose to do so, that’s just fine, but there is no harm and really no better way than actually buying a small notepad and taking it and your pen everywhere with you. (Although using a phone to snap pictures might also be helpful!)

Saving money is never a bad thing, so why not try this simple solution to cut down your expenditure. It’s an excellent, simple way of saving money, so why not start making notes now?

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