We are at the time of the year when most people write down their new year’s resolutions to improve their lives and strive harder for a better year ahead. One of the top wishes on their list is to learn how to spend less and save more. However, everyone would agree that spending less and saving more are indeed easier said than done.
“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki
We perfectly understand everyone’s dilemma on changing the kind of lifestyle they have been used to, just to save more bucks than the previous years. If you haven’t started saving for your future, 2017 is the best time to learn the easiest and most effective money-saving tricks and jumpstart your journey to financial freedom.
Money-Saving Tips You’d Wish You Knew Sooner
Monitor where your money go
Tracking your expenses lets you visualize where the majority of your paycheck go. Though this may involve a fair bit of math, you should not skip this as you can’t manage your budget without chasing where all your funds go. Keep your list and file updated. Also, don’t forget to review the numbers. It’s vital to know whether your outgoing cash flow exceeds your income.
Make saving a habit.
Automate your savings. Follow this formula: income – savings = expenses. See to it that you only spend the amount left for expenses. Moreover, deposit your savings to your bank and skip the one with ATM card or online banking options. Withdrawing directly from your bank is much of a hassle than doing it via ATM or online transfers. Therefore, you’ll be less tempted to get funds from your savings.
Pay your bills on time
Organize your bill cycle and list down everything you need to be reminded of, including the due dates.Mark your calendar and turn some notifications or alerts so as not to miss these crucial dates. Also, paying on a particular day in a month (before their due) can do wonders in helping you make this task routinary.
Drink more water
Drinking water keeps you hydrated and aids you in losing some pounds. In addition, it lets you cut food expenses. Most of the times, many of us are just confused with the kind of signals our brains send: hungry or just thirsty? Well, ensure you drink water at regular intervals to have fewer chances of becoming dehydrated and overspending on food, snacks, or even unhealthy yet pricey ready meals.
When dining out, opt for water over other kinds beverages. Service water or house tea can enable you to cut meal expenses. It is also a whole lot healthier.
Kiss you morning coffee or after-office latte goodbye
Buying coffee or latte from your favorite café makes you spend more than when you brew your own coffee or tea. Accumulated expenses of your daily cups can amount from hundred to thousand dollars a month. Just imagine the amount you’d save if you skip this morning or after-office routine.
Skip shopping cart.
The next time you rush to a grocery store, try this trick of literally picking up a few items while carrying your purchases yourself. Using a shopping cart or basket makes you buy more. In fact, you buy some things that you don’t need. Likewise, making a grocery list and sticking to it leave no room for overspending.
Grow food, not lawns
Preparation and maintenance of backyard or patio lawns costs a lot. Therefore, by replacing them with DIY edible or veggie-producing gardens, you save thousands of dollars. Eco-friendly yard garden doesn’t only cut lawn care costs but most importantly, reward you with all-natural, organic and fresh veggies. As such, you won’t need to buy them from the market.
Let technology help you
Download apps that will make things easier, more convenient and economical for you to save. Maximize mobile applications that can assist you with budgeting, getting the best deals, and having access to various shopping codes, discount vouchers, and other freebies. Using them regularly can help you save big time.
With all these money-saving tricks, we’re sure that you’ll hit your saving goals. Remember that saving is not about completely cutting out shopping and spending that can lead to shortchanging your life. Rather, it is all about moderation.