Advice on How To Save Money
Saving money can be both challenging and rewarding. Creating a budget and monitoring your expenses can give you greater financial security and reduce stress. Having some money saved for the future can prepare you for unexpected expenses and give you more freedom to take vacations, make large purchases, and support your family. Here are some tips for saving money.
- How To Stage a Home For Sale
Selling your home is one of the most stressful things you will ever do. The quicker you sell it the better. Heres how to stage your home to make it the most attractive and easiest to buy for...
- How to Teach Kids About Money
The sooner you teach kids about money the better. The way we spend money says a lot about our values. Kids are learning by our actions even when we don't say a word, so you may as well tackle the subject...
1. Make a budget.
Make a budget to meet each month. The budget should have categories of your expenses—such as food, rent or mortgage payments, car/gasoline, and entertainment. If you are unsure of how much to budget for each category, track your expenses for a month to see how much you currently spend and then budget for a bit less. Include a budget item for miscellaneous expenses. Part of your budget should be a certain amount you intend to save each month.
2. Track expenses.
Once you have set a budget, stick to it. Do not spend at will and then check the budget at the end of the month. Instead, monitor your expenses regularly throughout the month so you can make adjustments if you are spending too much. Home budgeting software can really help you out here. While you can purchase software programs that will help you track expenses, there are many free products online that will serve the purpose well.
3. Eliminate unnecessary purchases.
Many people struggle with saving money because they tend to buy on impulse. Thinking carefully about what you buy before you swipe the credit card can help. When you go shopping, set a spending limit for yourself ahead of time and make a list of what you need to buy. If you are tempted to stray from this list, go home and think for several days about what you were tempted to buy. This will give you time to consider whether it is worth spending some of your budget on. Easy things to eliminate from your budget are items from vending machines, movies at the theatre (use Netflix instead), and brand name cleaning products (generic brands work just as well for a fraction of the cost).
4. Subscribe to frugal living newsletters.
There are many newsletters out there that offer regular tips on saving money. A simple Internet search will return thousands of results. Choose a few frugal living newsletters to subscribe to in order to get regular tips to help you save and meet your monthly budget.Image Credit: alancleaver_2000, Flickr
More by this Author
Are you looking for good open ended questions for children? We have a list of 50 questions that act as conversation starters for children.
Breast tenderness is one of the most common signs of early pregnancy. Breasts (including nipples) may become sensitive. There are, however, ways to alleviate discomfort.
Find out the early signs of being pregnant, how your stomach feels, when most women start seeing signs, and how to know if you're really pregnant. Hint: You need to take a pregnancy test.