Easy to get started, and it adds up
Of course, there are many smart ways to save money, and you probably know a few good tricks yourself. But unless saving becomes a priority for you, it’ll probably never happen. You need a good reason to do it. However, know this: Saving money is many times easier than making money. In fact, it can be turned into a lucrative little game. Over a year’s time, it can make a huge difference in your bank account.
Here are 8 easy tips for saving money:
- Know Where Your Money Is Going: Simply keeping track of expenses, like the foods you buy each month can be a huge eye-opener. Start by writing it down for the next month. Track each purchase and each receipt. Your job is to have tracked everything by the end of the month.
- Debt Control: For most people credit card debts and car loans are two of the biggest drains on personal finance. Get into the habit of paying cash for everything. And don’t buy it if you don’t need it. And don’t buy new cars they lose 20% of their value by the time you drive them off the lot.
- Do you collect things: Maybe you collect baseball cards, books, coins, or weird things that have to do. These things can have a very high resell value. Put them up on eBay and see what happens. You may be surprised at what you can get.
- Sleep on it: Whenever you’re about to buy something that you suspect you might not need for survival, postpone the decision for 24 hours and see how you feel about it. More often than not you’ll realize that it was an impulse decision after all.
- The Grocery List: When you go shopping for food, always work from a list. Unless there is something you forgot to put on the list, something important don’t buy it. It’s surprising how little things add up. Store owners bombard you with messages you need this, you need that but you don’t need it at all. Save your money.
- De-Clutter: Go through your garage, your closet, and your attic. You’ll probably find many little things you never use, like old clothes or sporting equipment. Have a yard sale to get rid of these things, or give them to Goodwill.
- Buy Used: Never by new unless it’s absolutely necessary. You can find great used things on eBay, in second-hand stores, and at yard sales. Why buy new when you can save 80% or more? Most used things look like new anyway. People buy so much stuff that they use once and then put it in the garage.
- Cut Back On Convenience Foods: Eliminate your fast-food purchases and cook at home instead. Yes, it’s a little bit of trouble, but there are many meals that are quick and easy to prepare. Plus, the savings over a year are substantial. And don’t forget the health benefits. If you’re in trouble financially maybe you lost your job maybe the creditors are knocking on your door you can and should start by taking control over your expenses. Little things add up. All you’ve got to do is start.
