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Saving money is the most convenient way of building wealth though it isn’t the most sensible material to save. The value of money remains fixed. However the same sum of money may not always buy the same amount. Therefore the best way of saving money is to invest your money by exchanging it for something that will last in value or increase, or lend it an interest, so that you get back more than you lent.

However in this money-oriented world where you need to pay even for drinking water money saved is money earned. There is no such thing as a free lunch. It is the most difficult task to find a cheap place to spend the night.

Still, saving money is just about the easiest thing imaginable that only requires a little creativity and self-discipline. If you make saving a part of your wage criteria and utilize your brain more than your bank account, you can be rich in no days.

Listed below are a few ways of saving your precious money.

• Quit smoking and drinking.

• Keep a safe distance from ATM cash point machines that charge a fee for every transaction.

• Try to raise the insurance deductibles on your car.

• Prefer eating breakfast at home and carrying your lunch box everyday.

• Take your own time to buy anything that is expensive. There is a chance that you may forget it.

• Cut off the exorbitant health club fees by following a healthy diet and exercise regimen; exercise outside in the warmer months.

• Silk flowers may not have the freshness and scent but will save your money from buying flowers that wilt off in a day. Gift homemade treats.

• Smart purchasing is another effective key to saving money. It is advisable to take an inventory of your current needs before you decide to turn pennies into pounds through the saving route. Begin with the biggest item that has the potential to save more.

• House Mortgages: Owning a home is one of your biggest expenses. If the interest rate of buying a home on mortgage is 9 ¾% and 7 ¾% interests is available in the market, then you are paying a big price for not investigating on the available options.

• Home repairs, improvements and remodelling are quite an expensive affair. Therefore it is always wise to get things compared.

• The car is your next big expense. Calculate the best monthly instalment for your budget. Avoid mistakes as these can cost you on monthly basis. Think of ways by which you can economize and save the money in maintenance, insurance and operating expenses.

• Credit Card Debt is one of the biggest financial drains for most of the families in UK. To have a better control over your spending, stop being extravagant and dump all your high interest credit cards.

• Telephone: Although the local phone services in UK is currently monitored and has fixed pricing, it is the long distance phone calls that can worry you.

If you are living in a country like Finland where everything is taxed beyond all proportions, saving money can be a tough job. In Finland, a pint of lager (it isn't even a pint, but a lousy half litre) will cost you €4.5 Euros. At the current rate of exchange, it is a bit over £3. Therefore cut down your extravagant habits if you want to save money.

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