We all have come across times, when our funds ran low, our wallets weren't as filled or we lived paycheck to paycheck. Haven't we all been down that road of borrowing money? Whether it be from our family, friends, cash advances or pay day loans? Or maybe people come to you for help and you're the loaner who ends up giving money to others all the time. Is there a simple method to saving money?
Whatever the case may be, money just happens to be a necessity for many things in this life. So many things are dependent on it; your mortgage or rent, car payments, utilities, education costs, clothing, food. If we didn't have money to pay for these things, we might be homeless, without transportation and hungry.
So what are things you could do to start saving money the right way?
1) Recognize your expenses. Make a list of all your bills and the amount of payments needed to be made for each. This way you can keep track of everything you need to pay for each month.
2) Stick to your due dates for bills. Keep yourself disciplined when it comes to paying your bills, or pay them in advance. You may gain a better understanding of what you have left over, to set aside to save.
3) Budget any left-over money. If there is something specific you need to purchase aside from your mandatory set of bills, review again if this is something you need immediately or if it's something you can buy later should you come into a larger amount of extra money.
4) Choose an amount to save every month. Start small, don't aim to save a large amount if your take home income will not afford it. Try with $10-20 from each pay check at first. This way you're not completely taking away from your budget, but you aren't neglecting your savings mission either.
5) Sign up for member rewards for anything. Almost every industry offers rewards, like hotels, airlines, restaurants and shops. You could be eligible for exclusive deals, discounts and sometimes free stuff. This means when you do decide to splurge on yourself and go out somewhere or buy something you can manage to get some type of deal on the price.
6) Trade with someone. You may know someone who has grown out of their electronics, automobiles, clothing, housewares. Instead of rushing to purchase something new, why not see if someone else is offering something you need or might want for less. Ask friends, family or search the internet or newspaper for people interested in bartering or donating.
7) Use coupons. With an unpredictable economy, it's no shocker that many people have decided to take advantage of couponing. Not just grocery store coupons either, there are restaurant, retail and automotive ones circulating that could also save you some money. So before you toss out those coupons, you may want to snip along their dotted lines and start using them.
8) Stay disciplined. Try to avoid feeling tempted to dip into these savings. Maybe you could setup a special circumstance only system, with your bank, as to where they will only allow you to access your savings in dire emergencies. You could also turn your money into savings bonds, which is another great saving money alternative.
9)Start cutting back on expenses. If you truly cannot afford to buy or do something, then don't. Eat at home more. Stay home more. We all want the latest gadgets and garments. Some of us want the raddest and most expensive cars we see at auto shows. And some of us want large, luxurious living spaces. Stay in your reality. It's great to dream big and work for your material goals. However, it is smarter to find things that are just as magnificent at a lower cost.
10) Don't get discouraged. If you feel like it's taking too long to save a certain amount, have patience. You are investing in your future and this takes time. Just think of how much better your future could be if you had your own savings and didn't have to rely on other people to fund or support your lifestyle.
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