Are you like 90% of North Americans who spend more than you should each day? If so, then there are ways to get away from doing that. What most people don’t realize is that reducing your daily expenses is much simpler than reducing expenses on a monthly scale. The reason for this is because you can quickly see what you are spending when you evaluate it on a daily basis as opposed to waiting for an entire month. Besides, if you can learn how to cut down on your daily costs, you can actually save for bigger and better things such as luxury skiing holidays or tours through Europe. Just imagine what you could do with your money if you were willing to follow these tips below.
Eat In – The first thing that you need to do in order to save money each day is to eat in. The majority of people eat out for lunch and dinner and it is here that they spend about 20% of their entire monthly income. What you should do is make a list of all the things that you want to eat during the week and then go to the grocery store and get it before that week. By doing this you will have everything you need to save money each and every day.
Don’t Take Cards – By taking a credit or debit card with you when you go out you will spend more money. The truth is that people that don’t see cash leaving their hands are more adept to spending the cash that they can’t see or touch. This is why all cards are bad for people who have difficulty saving their money.
Only Use Cash – The best part about cash is that you won’t carry much around with you because you won’t feel safe with a lot in your pocket. This is why carrying $20 or so every week will get you to spend less and help you see how much you spend and just how quickly it vanishes from your wallet. When I was in university I often didn’t take any money with me at all. That way I was forced to save the little money that I had at the time.
Drink Water – Did you know that water will make you full; therefore, you won’t eat as much? Did you also know that water will cause you to do more and stay active? By being active you won’t feel a need to shop as you will already have something to do which is hopefully more important. Also, if you make a habit of drinking water you will be spending much less money on other beverages such as milk, juice, pop, etc. Eating less and drinking fewer beverages will significantly reduce your grocery bill.
If you can do all of these things, you will have a savings account with an actual balance in it at the end of each month, and who knows, maybe you’ll get to go on that skiing holiday or European tour long before you had ever dreamed possible.
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