Trying to save money can be difficult, especially at the beginning. Most people aren’t exactly sure how much money they spend every month and therefore end up overspending.
Maybe you are saving up for a purchase or may you’re just wanting to be better with your finances, either way, these five simple steps will go a long way.
Make a budget
Having a budget using a simple tool like a spreadsheet can show you how much money you can afford to spend in each area of your life. Save receipts or go back through your bank transactions and see how much you really spend every month.
Looking at the numbers may surprise you. Keeping track of expenses is the start of knowing how much money comes in and how much comes out.
Consider taking out the money you can afford to spend out in cash. Then, once this money is gone, you wait until the next month to withdraw money again.
Eat at home
This one is a basic step, but that’s because it really does save hundreds a month. You don’t have to be a chef or a whiz in the kitchen. Just make simple meals that you enjoy eating so you are less likely to order takeout.
Have one day a week that you eat out or order food so that you have that day to look forward to. You can also meal prep so that the food is ready for you whenever you need it.
If you hate cooking, sign up for a meal delivery service that is in your budget to help you out. Consider only drinking water as well to save money you spend on soda or alcohol.
Ditch cable or some streaming services to save money
Spending a few dollars a month on several streaming services may not seem like too much, but things quickly add up. Take a look at what you really watch and what you can go without.
Cancel all the services you do not use often, especially cable, as this can be the most expensive. Most streaming services probably offer most of the shows you watch anyway.
Do more things yourself
Is there a service that you pay for that you could really be doing yourself?
Go through the services you use and find out. Sometimes this can be paying for pest control, lawn care, or car washing services. If you have time to do these things yourself, cut the services.
Start being a coupon clipper to save money
Actually, you don’t have to clip. Most coupons can be found online. Check online at the places you normally shop or go to. Chances are there are coupons online somewhere for all the businesses you frequent.
Even just using a few coupons a month can save you tons of dollars throughout the course of the year.
Sometimes buying in bulk with coupons can save you more money later. Having more supplies in your home can keep you from constantly buying the same items every few days or weeks.