7 ways to save money today.
It’s that time of the year,where you have a big project laid out and need to find a way to save some money and not just save money but how to do it the right way. Don’t want to start saving and after a month to quit because it was to difficult to accomplish or simple enough.
See this simple but effective list of simple ways to save money today and to keep it also,that’s the hardest part until the day you need to have access to this special Fund.
1.Track your expenses…
What is the first step in any new saving journey? It is to keep track of all your expenses! You know,the special coffee that you take before going to work,the special trio or the muffin. Every pennies spent should be recorded but i mean everything,even if you think it doesn’t make sense but at the end of the month you will see a huge difference in your numbers.
Once you have most of the informations in hand try to organize your numbers maybe use a excel sheet to have everything in order and acccessible. Consider using your credit card or bank statements to help you with this. If you use your bank online, you may be able to filter your statements to easily break down your spending.
2.Have a Budget…
What is a budget? (Source: Wikipedia – A budget is the sum of money allocated for a particular purpose and the summary of intended expenditures along with proposals for how to meet them. It may include a budget surplus, providing money for use at a future time, or a deficit in which expenses exceed income.)
It is really important to find a way to control your budget and you could use this simple trick ,every time you get paid from work, freelance or any other revenues… Take 10-15min, to establish what need to be allocated to what and how you will divide the specific amount you have in hand ,in order to budget for the upcoming weeks and months. Not easy but by doing this exercise it will just give you more chances to succeed.
One of the coolest way to save money is by having a automated system in place. Most banks offer the option of having this option in place, you will need to have at least two bank accounts in place of course . Schedule when to have the automated transfert placed, what is the frequency, do you plan to lock the second account for a moment so you don’t touch the money.
It should not be setup in a way that your not abble to follow, you know exactly how much is been transferred and how long it will take to have a certain amount saved. Also how much it will cost you at the end to have this system in place, we all know it’s not going to be free or at least at a small cost.
4.Pause Credit Cards…
Most of us have credit cards debt,if you don’t that’s really really good ! It comes sometime with bad habits and if you are on the same boat as a majority of peoples, why not try to hide the card for a moment, in a safe place in your home. The trick is not to have the card with us when we go shopping but have a establish list of all the items that we need, so we know the exact amount that we plan on spending.
We all have emergencies and it is ok to have it around but another tip to help us achieve this goal, is to have a emergency plan ready. To have 1000$ set aside for any situation that may arise, so we don’t feel the stress when there is a crazy situation arriving because we know the money is ready and our mind if focus on our day to day Life.
5.Wait 30 Days…
What this is about, to wait 30 days? We are all avid consumers,we love to spend money, have the latest gadgets, the best clothings,go to nice restaurants and more… When we are on a budget and we try our best to stay on a straight line,it is in our best interest to take a step back when we are in a purchase mode… Do i really need this item, is this could wait?
Try to put on pause your actual purchase if it’s not a necessary one(toothpaste,groceries,cleaning supplies…) compare to buying the latest shoes in sale just to have them but if we think about it, there is probably 5 more pairs of shoes sitting at home collecting dust! Try practicing this simple but effective saving tip, you will get good benefit from this.
6.Minimalist your House…
We do ear a lot this infamous word “Minimalist”… : It is a way of saying, to leave in a simple matter, not to depend on external object to be happy, we are so much part of a world build on consumption,it is maybe time to take a step back. Why not look around in the house or your appartment and see what you really don’t need!
Have a small yard sale (most of the time need a permit from the city), sell your unused items online (you could try on Ebay per example). Whatever you didn’t use in the last year are a good item to generate some quick cash to put toward a debt or to be save in our special account. There is no perfect situation to have a minimalist approach when it is concerning our beloved items but it is a necessary step to have a better chance to succeed.
7.Role and Action…
Like in a movie, when it comes time to start shooting,they just say ” Role and Action”. You know what you have to do, you know your text,you are in the moment for the perfect scene. We should have the same approach when it is about our money, we should be ready every week when we receive our pay check to take the role and be in action mode.
The word action is not always put to good use because we do know there is a greater impact when we go in action mode when; something is important to us . Let’s try to be in a role play, to be a super hero when we feel bad, depress, not in the mood… In those times, you will need to put your super hero hat! In difficult time try to think about peoples that are part of your Life that you do care about, this should help you get going.
There is no perfect option here, sometime we are abble to save and some other time we are not abble to do so and it is ok. Take the time to understand your situation, what steps need to be taken in order to improve your own Life.
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