You must have seen, no matter how meticulous you are in your spending, you still end up spending more than you wished. We completely get it, because including you we all have been there. But, one thing you should know, Not wasting money is the best way to save money.
Also, the pandemic is the perfect example of how saving can protect you. The little change you bring in life gives some great results.
There are plenty of ways to save money that do not involve making sacrifices. Sometimes the best way to save money is to be aware of your finances and spending habits. I know you must have seen thousands of tips on how you could save, but most of the time, you find it hard to maintain it. Thus, I am going to give you a step-by-step guide, so you can not only follow it but save some money too.
No one ever says they do not wish to save but, all of us cringe to cut off our expenses or often wonder where to start. In reality, know, if you want to save money, you need to adopt some healthy habits. So, your saving doesn’t just line up you need to work on it. However, with some minor lifestyle changes, you can achieve it.
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Have you created a budget yet?
First thing first, create a budget if you plan to save money. You can track where your money is going. It helps you identify if your plan is working out for you or not. However, there are plenty of budgeting methods that will help you create your budget.
Your budget should include the outline of all the spending, including your monthly expenses and other maintenance. Keep a record of your spending to see where you can save more. There are many apps online to help you build a financial budget.
When it comes to spending money, it is always good to have a plan ready. So, start with creating your budget.
Mint helps you to track your finances. It is for the newbies to track their expenses. Therefore, mint not only traces your debts but also helps you to create a budget (for which it is famous). The best part is you get free credit scores. It asks you to connect your bank accounts with it and suggests the budget, and the different categories in the budget also tell you how much you have spent and saved.
It is the most fundamental change, and if you follow it, the outcomes will astonish you. Executing some change in your financial habits is a trick which you need to master.
Use an automated tool
Credit cards are good to use at times but do not make it a habit. (Remember you are just sparing time to pay the bills late but you have to pay them). Instead, it is easy to set up an account at the bank that will automatically take money out of your paycheck every week and save it away in a savings account. If you do not see the money, then you will not spend it.
Take your Discount- easy ways to save money
Consider the use of coupons and discounts. It helps you save and ought some great deals. Online shopping will save money on travel and have some exceptional deals. You can also shop on days where stores offer a discount.
Freebies are also a great option to buy from your favorite brand and get the best deals out of it.
Practice the 30-day rule
When you plan to make a massive purchase, think on it first. Pen down what it is and how much it costs, and if after 30 days you still feel it is necessary, buy it. It gives you an idea about about what you actually need. It protects you from unwanted purchasing.
Plan your groceries
Buy groceries from stores and have some great discount deals, making a list of your meals, so you know how much you have to spend. Try to cook more at home and eat healthier at home. You can buy in bulk and generic- if you are not a brand follower, you can opt for some different brand too. Remember, grocery stores design strategically. Thus, having a list of items to avoid the extra purchase of a product. Buy store brands. Many stores have products of their brand. It is less expensive than other brands.
Secure Investing- easy ways to save money
Insurance for your house, health and vehicle will help you overcome the burden of some emergencies. Take steps to protect your savings which means spending very carefully. Invest in things that have extended security.
You should know there are coupons everywhere- newspapers, websites, ads, stores. Take a little effort and try to utilize them. It helps you get a good deal in your grocery shopping. There are many apps specially meant to offer you great deals and coupons.
A traditional method of couponing. Here you earn cashback on your purchase at most grocery retailers. You can book travel, book online or pay through the app to earn cashback and discount. It has coupons available for all groceries regardless of their brand.
Work-life changes- easy ways to save money
Our work-life routine is hectic, and saving still is essential for you. You can bring lunch from home (which is not only healthy but less expensive too). Make that coffee into one or two cups. ( Try to make one for yourself, do not buy). Take public transport some days or walk a little to your work ( It will keep you healthy and fit). Shop a little less on your clothing, look for discounts while shopping. Control your party habits- it will not only save money but keep you healthy.
Accommodation and travelling change
Make sure your accommodation is according to your income. There are many ways to save money on it.
- Stay in a rented house
- If you have an extra room vacant, rent it
- Make sure the distance from work to home is less
Transportation also takes a lot of your money. Here are a few ways you can adopt a few methods to save money
- Walk to your work (will have health benefits)
- Use public transport
- Share a vehicle if possible
- Use a bicycle
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Some more Basic changes
- Install a programmable thermostat to save money on heating and cooling when you are not home.
- Research more, choose a less expensive phone plan.
- Considering cutting cables as now we spend most of our time on our cell phones.
- Keep an eye on leakages in your house. ( Preserves you from big-spending)
- Take short showers, will save your money and wastage of water.
- Maintenance of your household appliances.
- Stay away from pre-cooked or pre-cut fruits or vegetables. They usually cost more.
Get your easy ways to save money
However, you do not need to choose all the strategies at once. One step at a time can also bring some great results to save money on a low salary budget. The diligence you put in the more you will succeed. No matter how much your income is if you wish to make the change, no one can stop you from achieving it.
You can start saving money the minute decide. However, your effective strategy will make it successful. We hope you make the best out of your money and save more!
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