It’s possible to save money by employing some highly effective methods. They aren’t rocket science, but they can make the difference between being in credit at the end of the month, or being in debt.Read on for some real-life money management tips.

1.       Use discounts

It is important to find and use as many discounts as possible if you want to save money. You may find it rather awkward to use discounts as a way of saving money, but you will be surprised by the economic value of it. Discounts are now available on almost every item from groceries to cars and plane tickets.

Grocery discounts can cause a major cut in your spending and you can boost that by getting your car repaired at a shop offering rebates. There are sales, offers and discounts all around right now. Retailers are having as hard a time of it as we are, so they are making it as attractive as possible to make us do business with them.

Sources of discounts can be from group buying websites, magazines, local papers or the internet. Price comparison sites also help by highlighting the different prices around.

2.       Always ask for receipts

It is a good idea to ask for receipts of everything you buy. Receipts make things easier for you because they come as documentary proof when you work out your expenses at the end of the day.

They also act as proof of purchase in case something goes wrong. A valid receipt will also work as evidence of price-matching. Many large stores offer periodic price-matching events where they offer to beat or at least match a competitors price. This can come in handy if there’s something you particularly like.

3.       Calculate and record every expense and income

You may not be able to save money if you are not balancing your books at the end of the month. This can lead to excessive spending, with the possibility of incurring major debts if left unchecked.

It’s a good idea to start managing every expense and income if you want to gain, or maintain control over your finances. You can do this by keeping those receipts and comparing them to your accounting.

Fortunately, most of this can now be done online. Specialist websites allow you to fully manage your checkbook, all online. You can feed data into the site on a daily, or weekly basis and you can access this information whenever you like. Some of them offer detailed analysis tools which generate graphs of spending.

While this might seem a little much for the average household budget, it plays an important role in how you manage your money. Rather than chasing around at the end of the month to balance the checkbook, you can log on to the site and see it already done for you.

Using any of these tips will help you take control of your money. Using all of them will give you the best possible chance of staying on top of things.