Do you ever feel like you never have enough money? Does it always seem as if you can’t get ahead of your expenditures because unforeseen circumstances pop up that cost money? You are not alone in feeling this way. In fact, many people around the world feel the same way that you do. Often times people feel as if they just do not have enough money to make ends meet which leads them to applying for credit which only puts them more in debt.
In 2017, it is time to stop the vicious cycle of overspending and it is time to make a choice to consciously save money. This article will identify some ways in which you can save money.
Set a savings goal.
Before you begin, it is best to set a savings goal. This way you have something to work towards and you can visibly see the progress towards reaching the amount you want to save. Having a goal will help you think critically about spending money on eating out instead of making a meal from the freezer. For example, the $20 you spend on takeout chinese food could be saved and put towards your goal. Before long you will notice that your goal is insight and this will be very motivating.
Search online for coupons, offers, and other savings.
Online Special Offers can save you a great deal of money on common expenditures. Before you go to the grocery store, be sure to look for coupons and make a list of the items you need. Organize your coupons with the items that you need and try to stick to your list. Purchasing items that are not on your list can increase your grocery bill by over 10%! Another tip is to only shop the outer perimeter of the supermarket as this is where the most needed items are such as fresh produce, dairy, and meat. The middle aisles are mostly snacks, household supplies, pet food, and unnecessary gadgets that are enticing but are not needed.
Transfer high balance credit cards to a 0% APR.
If you have a credit card with a high interest rate on it, you may want to look into applying for a card with a lower interest. Many card companies will offer a 0% APR rate for 12-18 months for a balance transfer. This could save you money as you will be paying more towards your balance than towards the interest rate. Just remember to cancel your old card after paying it off or it will be too tempting to spend on it again.
Eliminate unnecessary expenses.
Go through your budget and eliminate anything that is not necessary. For example, if you belong to a gym and pay $40 a month but you do not go to the gym, cancel your membership and save yourself the money. $40 per month savings can add up quick!
Needs vs. Wants.
Next time your friend or family member mentions a new outfit, pair of shoes, or mini getaway that they have planned, remember that you are saving money and you can have fun in other ways too. You do not need to have a new outfit or go on a mini getaway right this instant. It is important to think of needs compared to wants when you are seriously trying to save money. A need is an expense such as paying rent. A want is purchasing a new outfit. While not fun, saving makes you prioritize what is important and skip over the unnecessary even if it is not as fun to do so.
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