10 tips to save money October 19, 2015
Money and budgeting are hot topics these days. Without wanting to get too deep into financial subjects, I want to share 10 tips to save money with you that will allow you to save some money every month:
1. Cook yourself and limit the times you eat out during the week.
2. Stick to a budget and do not plan in money you haven’t received yet.You can only make plans with the money you actually have in this moment. Do not overspend with the goal to make up for it next month.
3. Try some generic brands and do not go grocery shopping hungry. Usually you can save cash with only a little tweaks here and there when it comes to your own spending habits and buying choices.
4. Buy more things second hand (books, movies) and cancel any subscriptions you do not really make use of.
5. Save money for bigger purchases and set up an emergency fund. It does not really matter if your income is bigger or smaller, you should aim to save at least some money if at all possible.
6. Prioritze where you want to splurge, and know that even small purchases add up over the course of a week, month and year. Like a daily coffee bought during your lunch break. If you calculate how much money you spend on some of those spending habits, you might be shocked. I am not telling you what to spend your money on. But you should be aware of where your money goes…
7. Avoid impulse buys and window shopping. Especially online shopping can be very tempting. If you really need to save, do not go to a mall or visit the shopping websites in question to start with.
8. Know what you are saving for (if you see savings accumulated towards a goal you have (a vacation, new furniture) you will have a better incentive not to overspend money or limit impulse shopping of extras you did not even intend to buy when you went into a store in the first place.
9. Do some research before making a purchase, compare reviews and know your budget and stick to it.
10. Do not lose sight of your spendings. Keep track on how much money you have, how much money is actually available to you after all bills are paid etc. and do not live above your means. Also, do not lose track of all the things you pay with your credit and debit cards and keep your spending organized. Look at account statements and know when which payments are due etc. This also prevents surprises when you look at your account statements and possible debts.
I hope these tips where useful to you. Have a wonderful start in your week!
Photogaphy by © Markgraf Ave / Pixabay