Super money saving tips

There are many tried and true ways to save money each month:

• Every day, keep all your change in a safe (or wherever you prefer). From time to time, deposit the money into your savings account or apply it to the direct treasury. Over time, the money will turn into a small amount.
• Try to set aside a certain amount of money each month for your savings. People have been doing this for years, but it takes discipline.

Have a spending plan

Tracking your spending is the best way to identify areas where you can save money. Written in black and white, most people are surprised at how much they spend and the areas where they can cut back become very clear. All you have to do is track your spending for a month to get a good idea of ​​where your money is going. A lot of people think, “Oh, I don’t need to do this. I already know where I spend my money. ”The truth is surprising to most people; they really don’t realize how much they spend. You can’t say you know how much you spend unless you’ve tracked your spending.

Once you’ve identified where you’re spending your money, and you see areas where you’d like to reduce your spending, you need to set an amount that you feel is reasonable to spend and stick to it. To maintain your spending limits, you need to create a spending plan and stick to your spending plan, spending only the amounts you plan to spend on your plan.

If you know where your money is going, it will be easier for you to make changes if necessary. Try to write down all your expenses for a week or two to find out where your mistake lies.

There are apps that help you with this mission, for example Guia Bolso.

Separate wants from needs

Do you really need that 42-inch flat-screen television? When money is tight, it shouldn’t be spent unless absolutely necessary.

Avoid your credit card

While this may make things easier now, using credit only increases your monthly payments in the future. Most people who own a credit card have got tangled up, at least once, with debt and bills.

Try lowering your energy bill

Turn off appliances and lights when not needed. Buy light bulbs that save energy. When you can, use a fan instead of air conditioning or put on cool clothes instead of heavy clothes.

Stop for lunch on the street

An obvious money-saving tip is to find your daily savings. If buying lunch at work costs $20, but bringing lunch from home costs just $0, then over the course of a year, you could build an emergency fund of nearly $5,000 or make a significant contribution to a college plan or retirement fund. Who knows, maybe you won’t be able to become an investor?

Eliminate debt and save money

If you’re trying to save money through budgeting but still carry a lot of debt, start with debt. Not convinced? Add up how much you spend paying off your debt each month, and you’ll quickly see.

Once you are free of paying interest on your debt, that money can easily be saved. A personal line of credit is just one option for consolidating debt so you can pay off better.