Believe it or not, saving money is not as difficult as what many individuals say it is. It is just a matter or disciplining yourself and saving money wisely in the process. The harsh reality is that many individuals are still living on a paycheck-to-paycheck basis without establishing any kind of a savings plan. The following information will hopefully enable you to start saving money for unexpected future emergencies or events.
Develop a budget and stick to it – take all of your monthly bills including your food, rent, utilities, and other critical living expenses into consideration when you do this. If you can set aside only 5% of your paycheck, you will be surprised at how much this adds up on an annual basis.
Saving Money Wisely.
Dump the home phone if everyone has a cell phone – what is the point in having a landline anymore anyway? Dump those mega-minute family plans, especially if it is not a rollover type of plan and there are unused minutes left each month. We recommend the pay-as-you-go plans and to stop running up your used minutes by making unnecessary phone calls.
Prepare a weekly dinner menu and go grocery shopping accordingly – you should only be purchasing enough food to cover each individual meal as well as avoiding cooking for an army and throwing out leftovers that never get eaten. This helps to get a handle on your spending habits.
Get over the idea of always having to purchase the top name brands – in most instances, those high priced name brands are no better than the lesser known brands. Doesn’t it bother you to know that you are a sucker for the marketing schemes out there? Even though it may seem undignified and beneath your standards, purchasing second-hand items is not going to kill you.
Try to avoid spending excessively in order to keep up with the Joneses – there’s a good possibility that you’re going to be disappointed if you keep trying to look as good as your neighbors who spend excessively. Appearances are like other material objects – they mean absolutely nothing and you are just throwing money away when you pursue that kind of lifestyle.
Instead of driving, sometimes you should consider other options for getting from point A to point B – try riding a bicycle, carpooling, taking the bus, or even walking instead of driving your car to go shopping or to work. It costs you more in fuel to drive to the mall by in your vehicle compared to not being lazy and either riding a bicycle, taking the bus, or just getting off your butt and walking.
It’s not necessary to have 500 TV channels with a cable or satellite TV plan – chances are you’re only going to watch 20% of those channels at the most – probably far less when it comes down to it. If you enjoy watching movies, consider renting them from a movie rental company or purchasing previously viewed copies for less money. Again, this is a matter of disciplining oneself and not being concerned about appearances.