There are many people who are not spendthrifts in any manner, yet they do not have a penny in pockets at the end of each month. They work for endless hours; taking on all part time jobs available, still see no savings. This hurts especially when they have to turn down an offer for a friend’s party as they have no money to buy a gift, let alone a dress. If you are a part of the mob that cannot really secure any savings no matter how hard the efforts are, you really need to follow certain set of rules. Cutting down expenses and surviving on a tuna sandwich is not the only way to save money, there is a lot more to the pool. Have a look!
it is very important that you decide at the beginning of each month your very necessary expenses. We often fail to set priorities and that gets things more messy. Take for example your best friend’s birth month. Now you know for sure that you will have to be at the birthday party. You need a present and a dress. Here you need to play smart. For example you can forget about a pet you were planning to adopt at least for the monthas you will have to bear expenses for food and vaccination. Just focus on arranging a dress for yourself and a birthday gift for your friend. Rest will be your very necessary expenses like bills, credit / debit card payments.
Write down each and everything
Once you will make a point of listing down all your minor expenses you will be able to analyze in a better fashion. You shall keep a small diary with you always. You buy coffee from Costa, you write it down. You get your fuel tank full, you write it down. At the end of the month you can make categories and organize your expenses in each one of them. This will enable you to identify the total amount for each one of them. You can then try reducing the highest expense and work on the monthly budget.
Start a saving plan
you can always try with a saving plan using some short and long-term goals. Save some money for emergency (in case your family needs it or you have to get a car repaired after an accident). Save some money for a vacation (who wouldn’t want a break from work). Save some money for a new car-incase a friend sells his car in future. Long term goals could however involvesaving money for a wedding (if you really are a family person), or for a child (if you already are in a relationship and your spouse loves kids).
Keep a track of your savings
to keep a track of your savings you shall make sure you check onto them after every two months. You really don’t have to allot a large sum to your goal but you can at least give off some percentage of the total earning each month or fortnightly, if possible. Bi-monthly will be a great option especially if you are doing multiple part time jobs. Also make sure you never draw out money once you have put it in the saving box.
Wrapping it up, saving money just needs careful planning and consistency. It also involves managing certain expenses by carefully setting priorities. Also if you are a foodie, you shall try to satisfy your taste buds by homemade delights rather than hit the restaurants and pay bucks!
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We all know how important it is to have some money aside. Retirement savings, buying economical cars, not spending too much are good tips, but especially in the long term. What small things can you do every day to save some money? Here are a few of which are also good for the environment!
You save money by canceling your newspaper or magazine subscriptions. On the internet you can easily follow all the news and much more, absolutely free. Environmental friendly? Yes, you will have to throw away much less paper later on.
Forget about expensive cleaning products full of harmful chemicals. With a bottle of cleaning vinegar you tackle most household problems in an environmentally friendly way! Vinegar works well against fungi, limescale, and unpleasant odors. Dilute with water, and you’re done.
Are you tired of your perfume? Then exchange with one of your friends. A new bottle will quickly cost between thirty and sixty dollars, so saved!Get local fruit and vegetables on the weekly market, instead of in the supermarket. That is often cheaper, and suddenly you suddenly invest in our economy.