Yes,it is hard to save money even even after cutting off cable bills dining out and other small things which costs you bucks.
The reason it becomes harder is because you have a fixed budget for every month for which the expenses or your spendings remain the same which are not at all easy to remove.
So,if you are ready to start saving today then you should follow the below mentioned tips which will no doubt come to your help.
The first thing you need to know is how to save money so the answer is – try setting your goals first.
Making a pen paper budget now a days is not enough what you should do instead is keep track of your budget through budgeting apps .These apps will not only monitor your spending but also figure out areas where the expenses can be cut off. Do not forget to keep in track of the expenses you overlook every month like holiday gifts and car registration.
Setting goals are important because if you don’t ,budgeting will overwhelm you making you think that you are saving very less . So, figuring out what you are saving for like an emergency fund or making a down payment for your home or for buying a car can come to your help.
Moving to the tips now, the good thing here is that you would not need to cut out stuffs .
Get rid of your credit card debt –
People carrying credit card debts have an average APR of over 15% .If your are also one who is carrying credit card debt then you need to get rid of it on the very first place because the more time you take, the richer you make the bank by paying higher interest amounts.
You can follow different methods to do the same like-
Attacking the smallest balance first
attacking the card with highest interest rates
take a debt consolidation loan
use a balance transfer credit card
Prepare your meals yourself rather than going overboard-
Try to make a shopping list and grab stuffs to prepare your meals from scratch and remember to give time to it because when you are in a hurry and you are hungry ,you will grab every thing you see which will in-turn cost you a lot again. Also,do remember to purchase products with longer shelf life or things you have enough freezing space for.
Cancel automatic payments for unnecessary things-
You might have monthly subscriptions to various entertainment and other apps and also memberships of diiferent things.What you need to do is figure out what you need and the ones which are draining your account without you even using them . For instance,if you have subscription for buth netflix and amazon prime consider using only one .Look out for gym memberships,subscription boxes and anything else you have not used for past few month and cut them off also look out for the free trials you forgot to cancel which are now costing you .
Repair rather than buying a new one-
Only because something is broken doesnot mean it is fully out of use and cannot be fixed. Learn some basic DIY techniques and you would be able to repair your lightly damaged good without replacing them with new ones.
For example, if you learn few basic sewing techniques,you cn help your family repair the clothes instead of buying new ones even you do not have a machine for that.
You can also fix diiferent electrical gadgets if you go through free online teachings but for major repairs you should always go for a professional and do not worry because the whole cost will surely be less that what the new same thing will cost you.
Travel on two wheels whenever and where ever possible-
Travelling through a bike for few days a week will surely save you the expenses of the fuel and the parking also making you more fit. But the best perk here is that ,as a bike have much less space than a car trunk to hold things,you will feel lees urge to making extra trips to the groceries or stopping for a takeout on your way which will in the end save you more bucks.
Following these tips will hopefull help you save money and once you reach your goal,you will feel the urge to save more so spend smartly and save as much as you can.Happy Saving!!!
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