After passing away at the age of 82 years, John Grant had lived the last few years of his life out of a van. A loner and a recluse who died in a motel room in March of 2008 left behind a savings of $263,000 stashed away in cassette tape cases in $5 to $50 bills, which he had saved over the course of his career as an auto mechanic.

Police searched for months for an heir and finally found his Granddaughter, Sarah Snyder who at the time was 27 years of age. She said “It’s horrible the way it had to happen, yet it’s really been a blessing in my life. It’s giving me an opportunity to pursue my dreams.” Sarah is a bank teller, and began using the money to study international business.

Money serves a purpose everyday in our lives whether we like it or not. And most of the time we have to spend some of it at some point. Unfortunately, the accumulation of money, or saving it doesn’t always work out for the best. In the case of John Grant, there could have been a number of reasons why he ended up the way he did, but he obviously had no desire to spend the money he had obtained over a period of time to improve the final years of his life.

Saving money is a good thing, and in no way are we saying that it leads to a miserable life, but not being able to enjoy some of the money we have saved can lead us to become what I call Savings Robots.

If you find that you are so focused on saving, that you are not able to enjoy life or unique experiences in life which may come at a monetary price, then you have become a Savings Robot. These could include things like going out for a nice meal once in a while, taking a family vacation, spending money on your health, going to a local museum, buying a new pair of shoes and so forth.

As we age, the things we have accumulated in life become less usable. Unfortunately this also includes money. The energy or health that a person has when they are 30 are no longer at their disposal at 70 for most. So why do some people forgo ever spending anything in order to have a stockpile of savings, when they are no longer able to use it on things that enhance and make a life rich rather than the person?

Having an unbalanced view in your savings habits can cause you to lose the big picture as to why you are saving, and lead you to becoming a Savings Robot. Take a step back, be honest with yourself, and ask those around you who know you well if you are a reasonable person when it comes to saving money. Only each one of us individually can do that because of different circumstances, but doing so can open our eyes to a more fulfilling and balanced way of living.

1-Use those coupons

Discount coupons come in all shapes and sizes. They are also ridiculously common if you know where to look. Newspapers and magazines often come with promotional offers which can help you cut your grocery bill by as much as 40%. Sure, you don’t want to hold up the line while you search through a fistful of coupons, so plan in advance what you require and take appropriate coupons.

2-Use your credit cards wisely

What a lot of people don’t know is that the extra 0.5% interest your credit card company charges versus another card probably means you pay a couple extra grand over the time period you finally pay it off. Use a site like cardratings.com to choose the best card and spend wisely.

3-Join company clubs

Most big clothing brands and others too have loyalty programs which give big discounts to members when a new line comes out. Many also give incentives for purchases made during the lean season when prices are anyway very low so you should aim to do your shopping during this time.

4-Today, it is possible to save time when cutting and chopping vegetables as pre-bagged salads are available. However, if you buy your own lettuce and chop it at home, you will save more money.

5-Save electricity

You can afford to lower the air conditioning a couple of degrees in the summers, and turn down the heat in winters as well. Electricity is a huge expense for households on a yearly basis and amounts to thousands of dollars annually. It is estimated that each degree of heat turned down saves around 2-3% of your bill.

6-Choose a good cell phone plan

That’s right, you don’t need that fancy ring tone, neither do you need the daily jokes which you’ve subscribed to. Find an unlimited texting plan if you’re a heavy texter or an unlimited download plan if you browse the net from your phone. Sometimes its cheaper to get an unlimited plan than to pay a discounted rate per sms or per MB.

7-Take advantage of tax breaks

Almost all companies from the largest to the smallest offer schemes to help you save money. These are in the form of health or insurance schemes usually. Not only do these schemes result in massive savings by the time you retire, the deductions from your monthly income is pre-tax, which can help you save on income tax.

8-Cut down on frills

If you have a habit of going for that weekend movie to the theatre, consider renting a DVD instead. Sure, a theatre movie is a much better experience, but it results in added costs like popcorn, colas and not to mention transportation costs. It’s much cheaper to rent a DVD and watch one at home. You get to make cheap popcorn, save on gas as well as premium priced movie tickets.