At times it can seem like no matter how much we earn, we end up leaking money like an old boat riddled with holes. “I can’t have spent that much last month!” we’ll exclaim, staring open-mouthed in horror at our bank statements and visiting best.creditcard for a new credit card.
As freeing up money to put into our savings is one of the most important financial skills to manage, here are some tips for doing just that.
Everyone wants to be able to save money. Whether you have a ton of cash or you are living paycheck to paycheck you might find that you could use some advice. Financial matters can be difficult but there are a few easy ways that you can hold onto the money that you have. Looking for the top 100+ money saving tips can be a great start. In order to help you along your way here are a few of the more common bits of advice that you can use to get yourself on the path to saving money.
Make Change
One of the best ways to begin the process of saving is by paying attention to money in all of its forms. Coins might not seem important, especially when you have a handful of pennies in your pocket, but change is exactly what you need to get started. Putting your change aside for a rainy day can be an amazing tactic to save a large sum of money over time. All you have to do is put aside a jar or box where you can keep all of your change.
Start collecting it right away and do not touch the change no matter what. After you have filled the jar you are going to want to find a machine that will turn your change into cash. Many banks offer this service for free so that can be an excellent spot to begin. Instead of spending the cash that you make from collecting your change, it might be a better idea to open up a savings account. This move will help you to put all of the change you have collected into a safe spot until you are in need of it.
Being able to drive a car is very convenient, but it’s equally expensive! For starters, cars themselves are among the most expensive things most people buy in a lifetime. After that, you’re required to insure it, and have to pay all sorts of regular costs to keep it on the road. Once you take a step back and do some maths, some people may even consider getting rid of their car altogether! Running a car is never cheap, but there are a number of ways you can cut down the costs. Here are a few things you might want to try.
Shop around for the best deals on car insurance.
My first point is to look around for better breakdown cover. At one point, looking around the whole market for car insurance was a revolutionary, new idea. Now, everyone does it. However, this isn’t the only thing you should be shopping around for. In all likelihood, there are several breakdown cover plans which are cheaper than the one you’re currently getting. Various comparison websites allow you to enter criteria for the kind of coverage you need, and then you can see all the relevant services. If you want a tip on what to look out for, try to find an up-front plan. Here, you pay out yourself to have the car fixed or towed, and then claim the cost back from the provider afterwards.
When it comes to personal finances there is no shame in admitting that you could do with a little bit of extra money to help you get through the month. However, unless you have a money-making scheme hidden up your sleeve, the best short-term way of getting more cash is to simply spend less. But don’t worry, this doesn’t mean that you have to turn off your heating or switch off the lights; it just means that you need to make sure you’re getting the best deals around. To help with this, there are three simple tips that you can follow.
If you’re trying to cut your spending it is always worthwhile writing all of your outgoings down so that you know exactly where your money is going. As while you may think that you’re being frugal with your money, it is easy to underestimate exactly how much you’re spending on even the littlest of things. Many people, for instance, end up spending much more than they’d planned on unnecessary items such as magazines and newspapers. Another common unnecessary expense which you don’t always realize you’re incurring, is money spent on buying lunch or snacks when you’re out and about or at work. That is why you can only really start to make cutbacks in your outgoings once you’ve got a good understanding of where it is that your money is going. So whether you start to make lunch at home or just cut back on those little extras, you are sure to start saving money without even noticing the difference.
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.