We have all desire to save more money at one point or the other and it is now time for us to know the basic information about this issue. Desire to save money is quite different from learning how to save money because you might wish to save money but won’t be as effective as you want due to some certain factors. Irrespective of your financial journey, it is appropriate for you to know you can easily save money.
It is very easy and possible to do that but you need to know the right steps to take at the right time for things to be at your desired position. The truth is that people usually fall into the habit of overspending even unknowingly. The quest of going to grocery store or go for holiday or probably go out with car to places that you can walk or take bike to. So it might be a bit difficult sometimes on how to get rid of these scenarios and that doesn’t mean you shouldn’t try out some methods that will enable you to save money.
At a moment, it could be challenging for you to save money but it doesn’t really mean you can’t do it. When you are able to learn the necessary steps or methods you can follow to make it easy, it shall be possible and that is what this article entails. You will be able to read about the necessary information you need to know and steps/tips you can make use to help you give insights on how you can easily save money. We are all different in nature and in fact some people have the knowledge of how to make money even right from their childhood stage while others didn’t. It is very true that some people are born to be spenders and some are born to be savers. However, the first thing you need to do in your desire to save money is to know/learn the basics of saving money then you can now check yourself appropriate and discover the emotions traits that trigger your spending. The moment you are able to discover the traits that make you spend money even without planning, it will be easy for you to overcome such habits by becoming more aware and know how you can effectively make changes that are positive to your financial profile. When all these are simply understood and known, it is now right for you to learn how you can strategically save money in virtually everything you wish to do in life ranging from good price you can get for your desired car to lowering your electric bill.
15 Simple Ways to Save Money on a Tight Budget
- Know your expenses and income: This is unarguably the first thing you need to start with if indeed you are interested in saving money. It is important you know how much you usually generate as income and how much you spend out. You might probably have idea on how much your paycheck is anytime you receive it but it is time you look beyond what you merely see. Know the exact amount you are receiving as income and the exact amount of how much you are spending out in form of expenses and bills. There are different ways you can easily track your expenses such as using mobile apps like EveryDollar, Mint or YNAB or with the use of excel spreadsheet.
- Get a Spreadsheet for your budget: The moment you are able to realize your income and spending. It is expedient for you to create a spreadsheet for it so that you can easily understand where you can cut down bills and it will assist you in managing anything you wish to spend out.
- Negotiate for new rates: Check out to your utilities providers and negotiate for new rates. It might range from your bills and even your calls tariff. You can reach out to your network providers and request for lower rate that can be effective for call. You can do the same process for other utilities bills and get the best rates that are effective and affordable.
- Always unplug your electronics: Most people usually neglect this act and leave their electronics unplug even without use probably they aren’t available or busy. The good thing to do is to always ensure that electronics such as TVs, computer set and other devices are turn off to allow you invest in energy saving power.
- Know your reason for purchase: For you to save money with ease, it is important you spend genuinely. When you take your time to know why you decided to make a purchase, it will be easy for you to save money faster and you will also be able to make quick decisions about why you are saving money because the reason is in you. The moment you are able to have a reason for saving money, you will be able to make better decision in your financial tasks.
- Make use of credit cards wisely: People that are always prone to overspending with their credit cards can make a change that would enable them save money. You can hide your cards or probably keep them in a safe place at your residence. When you keep your card away from your sight, it might help you reduce your quest in making purchase unlike when it is kept inside your wallet.
- Go for free customer rewards programs: Most business owners or firms usually offer programs that reward customers when they make purchase. You can sign up with your email account and receive coupons update and it will be used anytime you are ready to shop. You will be able to earn points and you can also get discounts and rewards which will enable you to get some products for free or with little amount as the case may be.
- Get a programmable thermostat: When you are able to purchase a programmable thermostat, it will be easy for you to control the temperature of your house at different seasons. During winter, you can make use of the thermostat and lower the heat at night, increase the temperature when it is morning and let the house to be cool throughout the day. This process will enable you to save much on energy costs.
- Get a list before going to shopping and stick to it: Another easy way to save money and avoid overspending is when you get yourself a list of what you want to buy before going to shopping and stick to such list when you are at the shop. This is because most people usually spend more than planned when they don’t have any list before going to shopping. They end up buying unplanned things and spend beyond initial plan. That is why you should always get a list before you to go shopping either grocery or others.
- Know what usually trigger you to spend: It is important you understand what usually trigger you to make purchase and spend money. For example, when you always go out to take drinks or alcohol when you have a bad day or probably you check out Instagram in the night after your working hours and buy some clothes probably because an influencer wear them. Therefore, a good way to save money is by knowing what you spend aside your normal budget. Then you can check yourself on why you purchase them like are you feeling sad at that moment or you are just happy or feeling stressed or probably just because you want to make a better day? The moment you are able to identify the emotion before your spending, it will be easy for you to be aware of it and redirect it when such emotion comes up.
- Invite friends to your side instead of going out: Another good way to save money is to limit the way you spend outside. You can simply invite your friends to your place and prepare any meal you wish to take rather than going out to town for shopping. It will definitely inflate your food and entertainment budget and the best way to reduce such cost is to get it prepared at home by yourself and come up with own entertainment. Watch movies, play cards, have dinner and have a blast is a better way to manage your resources than going to public place.
- Go to free or low cost events: It is important you look into how you can save cost with your attendance at events. You can simply go to events or programs that are less cost or probably free for you to have some money saved. You can check around your area and identify low-cost activities such as going to zoo or museum and many other places.
- Walk or Bike: You don’t necessarily need to take your car to anywhere you wish to be. In a situation whereby you can take bike or walk, just do that as it won’t only save your money but also get you more fit. It is another good way to save gas.
- Always check your credit report: Your credit score and report are very essential to your saving goal. You should make sure you always check your credit history and score which will enable you to have proper knowledge about your credit. It can get you low interest rates for your shopping such as purchase of car or house when you are able to build a good credit score and history. This shows that another good way to save money is by always checking your credit report.
- Exercise regularly and don’t smoke: Your physical health will receive proper care when you exercise regularly and get your heart rate up always. You will also be able to prevent some illness that could be too expensive or budget consuming. Also, you should be aware that smoking isn’t good for your health and it can also consume your money. Therefore, it is advisable to always run away from smoking.