The question, how to save money, can sometimes seem impossible to answer. Every time you turn around you are paying for bills, fixing your car or buying things you want/need. With all the ways you can spend money, it’s nice to learn some ways not to spend money. Below are some great tips and tricks to saving.
Every time you make any amount of money, take 10% and put it away somewhere and don’t touch it. It may not seem like a lot at first but it will add up faster than you think.
At the end of every week take $25 and put it along with your 10% savings. Before you know it, that saving will grow rapidly. Most of the time you wont even notice the missing $25.
MAKE A MONTHLY BUDGET
Making a monthly budget is a HUGE way to save on unnecessary spending. Take some time to sit down and write-up everything you spend money on during a given month. Figure how much are fixed costs like bills, rent or groceries. Next track how much money you spend on entertainment and other things you don’t “need”. You want to cut this by a third or even in half depending on how much you want to save. After you got a good budget, FOLLOW IT STRICTLY.
30 DAY RULE
If you feel an impulse to buy something that you want and don’t really need, put it on a 30 day waiting list. Usually after that 30 days your urge to buy that item has faded or you realize you can live without it.
DEBT SNOWBALL: HOW TO SAVE MONEY
Figure out what debts you have and which ones are the most outstanding or need to be paid off first. Then make a plan of attack of which debt you will pay down first. This is more for just having a plan set in your mind. Having plans set is a great way to get the ball rolling.
DON’T GIVE UP
All these tips are great and all but sticking with them is the key. Once you implement certain changes in your life whether it’s for financial problems or just in general, it maybe tough staying with it. If you think a change is important enough to do all these tips, then it’s important enough to stick with it.
Check out more tips and tricks for saving money here: thesimpledollar.com
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