Money saving tips.

My grandad used to say when i was a boy.

"Look after the pennies and the pounds will look after themselves. Looking back I really wish now I had followed this advice !"

 

The answer can be said to be universal. No matter where you live what you do the answer will always be the same. Accounting principles are applied.

• First you need to have a goal and that goal must and foremost be to spend less than you earn by at least 10 per cent that's right ten per cent.
• Create a Journal where each day you can jot down the things you did and where your money went.
• Get seven shoe boxes jazz them up and mark every day of the week Monday to Sunday on each box. Each day collect a receipt for everything you purchase including coffee. put the receipts in the box corresponding to what day it is.
• When you get a minute or two tot up the amount of money spent each day during the first week then file the receipts into a filing system of some sort. Keep a separate journal and total each of you daily expenses.
• After a couple of weeks you should be able to see a pattern of habits of where your money goes whether it is on gambling,coffee,alcohol,drinks shoes you name it most of us have spending habits whether we like them or not.
• Start to save money by gradually reducing your spending. Buy secondhand clothes. Go to the Library instead of buying news books. These days libraries carry news books especially the major metropolitan ones...
• Cut the unwanted expenditure on things like mobile phone & cable television use. consolidate your bank accounts into one or two accounts
• read some good books on investing and saving. Suzie Orman series for instance or Warren Buffet.
• Look for places where you can start saving and investing in the future when you have saved enough say in six months to do so. by having a future goal you will succeed much easier...