We have been raised with the idea of how important it is to save money for the future, for travel, for an emergency, for buying a new car or house. Saving money is essential to achieve many of our goals. Having an active saving account is proof that we are organized and good planers.
But let's face it, it is almost impossible to save money when you do not have a big salary. Sometimes, even having a good income, it is difficult to spare. You will not read in this article that you should save ten percent of your income, or about an exclusive investment bank account. I only want to share with you some tips I always use to have some extra money.
1. Homemade meals.
I know how hard it is to make three meals every day. Like you, I am too lazy for it. The worst is sometimes my food does not taste good. It is easier to buy food which is already cooked (by an expert). The truth is cooking can help you to save a lot of money. For example, buying one meal can cost over $10; think about three per day. On the other hand, if you make your food, you can spend less than $3 per meal. You can save 60% of your budget from food.
2. A single per day.
Here is an idea. If you keep $1 per day, in one year, you will save $365. It is not a significant amount, but it is enough to have a short trip, or a special weekend, or an expensive concert. Easy, no?
3. A cup of coffee.
Every time I need to save money, I start with the coffee. I love coffee; most importantly, I love the cup of coffee I do not make. However, we can increase our saving accounts with homemade coffee or tea. With some math, a cup of coffee can cost over $3; if you buy coffee four times per week, you spend $624 per year. Who wants to make some coffee now?
4. No credit cards in the wallet.
A right way I do not spend money is by keeping my credit cards at home. The temptation is significant when you have a plastic card with the capacity of paying for almost anything you want. With my credit card away I save money and I keep my credit score high.
5. Don’t buy what you don’t need.
I love to buy clothes. Even though I always buy when there is a clearance or sale, the truth is I get a lot of pieces of clothes I do not need, or I already have. It happens all the time; you want to buy a pair of shoes you do not need. Take that money and deposit it in your saving account. You can do the same with your subscriptions. If you are not watching your cable, going to the gym, or reading those magazines, just cancel them.
6. Saving one kind of bill.
I have a friend who keeps all the $5 bills he gets. Let me tell you, at the end of a year he saved around $500. You can do the same with singles or $10 bills. It could work.
7. An inaccessible saving account.
The only way I can withdraw some money from my saving account is going to the bank office or the ATM. My debit card does not work in a point of sales; then, the way to access my money is difficult. I am more lazy than wasteful or spending.
8. Parting with a budget.
Even though we want to save money, we want to enjoy life. It is healthy, and parting and hanging out with our friends are part of the diversion, but they do not have to be expensive. You should start having a budget. In my case, I only go with the money I want to spend in cash. There is a way not to spend more than I plan. Also, you don't need to go to eat, drink and dance, all in the same day. You can eat at home, drink something (only if are not going to drive), and only enjoy the dancing with a couple of drinks (to enjoy the night, you do not need to get drunk either).
There are some tips. Of course, the main ones are always to have a budget and not to buy unnecessary stuff.