5 Money Saving Tips to Help You Budget

5 Money Saving Tips to Help You Budget

Life is expensive! I’m always surprised by just how much money I spend without even breaking a sweat. And while I almost always think that I’m doing my best to avoid unnecessary spending, the truth is that expenses can sneak up on you. You might think that you’re doing well to eliminate spending without even realizing how much more you could be saving. Let’s take a look at some money saving tips to help you keep more money in the bank!

Money Saving Tips

Understand Your Income
How much money do you make a month? Okay, and how much do you want to save? I want specific numbers! No vague “oh, I make around $400 a week, so I guess maybe $1600 a month?” in here. No, I want you to have exact figures. When you understand exactly how much money you can expect to receive every month, saving becomes a lot easier.

Budget Everything
And I mean everything. That once-a-week fancy coffee? Put it in the budget. A vending machine snack? Put it in the budget. Plan your expenses down to the last dollar. Doing this will help prevent you from spending money without realizing it.

Make Mindful Purchases
Impulsive buying is a problem that many people face. It’s very easy to decide you absolutely must make a purchase in the heat of the moment. Before you pay, take a few minutes and think about your income and your expenses. How does this purchase fit in?

Ask for Better Rates
Do you pay for insurance, internet, or a cell phone? If so, call your provider and ask if there is any way you can lower your bill. You might be surprised at how well this works!

Spend Less on Groceries
Is there a lower-cost store like Aldi or Trader Joe’s in your neighborhood? Take some time to investigate your options and plan your meals ahead of time to save even more money!

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