Are you looking at getting rid of debt, saving for a vacation, retirement, or just wanting an extra cushion fund? Saving money can sometimes be challenging with so many different expenses but it is not impossible. Here are 5 ways to save more money that will help you reach your financial goals.
Pay Yourself First
You work hard for your money, why should you not make sure you are getting a portion of it. A good chunk of money goes towards food, living expenses, outings, and other life things. Make sure each check you get you’re putting 10-15% of your check away into your goal fund.
Set up a Budget
This is a must if you want to save money; you first need to know where your money is going. It is also a good way to hold yourself accountable for your spending. A good way to do it is make a spreadsheet on your computer, write it out, or download an app on your phone so you can always see it. There are many great apps that you can sync your accounts to and it will track your spending, savings, and create a budget for you.
Use Credit Cards the Smart Way
We have all heard credit cards can be dangerous but they can also be very helpful as well as long as you use them right. You can get some pretty awesome benefits from credit cards as long as you make sure you pay off the balance each month. If you can be disciplined with your credit cards you can earn cash back, points, and other awesome benefits just from using the card.
Don’t Impulse Buy
Yes, it may be a great deal but ask yourself if you really need it and take a while to think about it. If you really want a new outfit, car, shoes, membership, or other things but it is more than what you would spend, step away and take a few moments to really think about it. There have been multiple times when I walked away and thought about if it was something that I really needed and evaluated if it was worth it. Just ask yourself before you decide to buy anything if it is something that is going to contribute to your goal or put you further away from achieving your goal.
Remember Your Goals
Make your goals visual, if you are saving for a trip, retirement, a new car, or whatever it may be, make it visual. Print out a picture to hang on your fridge, in your car, or at your office. This will help you remember what you are working towards and help encourage you to make decisions based off what your financial goals may be.
Photo Credit : Pictures of Money from Flickr