Saving money is extremely important for your financial safety. In the end, we live in a very shaky economy – and having some money set aside for rainy days, for dreams or simply for paying off debts earlier can be extremely helpful.
How to save more each month? What are the best and most efficient things to do to make your piggy bank grow larger every month? We have gathered some tips for you – so read on and find out more.
Stop Buying Things You Don’t Need
You may not admit it, but there are a lot of things you don’t actually need. A new pair of shoes, a new videogame, four magazine subscriptions – these are things you can very easily live without. It does take a bit of self-control and it can definitely feel quite difficult at first but, in the end, it can save you a lot of money.
Take a look at all the purchases you made last month. Sum up your bills and the things you actually needed and see what a huge difference a bit of self-control and financial planning can make!
Save on Grocery Shopping
Unfortunately, we cannot live without food – so skipping the grocery shopping is definitely not something you want to do. However, you can save a lot of money on grocery shopping by doing simple things – such as researching prices in different supermarkets, shopping according to a list, avoiding impulse buys, buying in bulk (and refrigerating what you cook) and using coupons. These are small things you can do, but they can save you tens and even hundreds of dollars every single month.
Get Better Deals
Sometimes, all it takes is asking. Ask your bank if they are not willing to renegotiate your mortgage or your other loans. Ask your phone company if they are not willing to renegotiate your contract. Ask your energy provider if they have lower prices at certain times of the day. It doesn’t cost much to ask – but it can definitely save you a lot of money, especially in the long run.
Yes, it may feel a bit odd at first – but keep in mind that most companies would much rather keep you as a loyal client, rather than seeing you default on your loans or be late with your bill payments. Therefore, they will most likely be quite willing to renegotiate contracts with you as well.
Set Very Clear Goals
You may be able to “save money” and even “save a lot of money” if you put your mind to it. But setting a very clear goal (such as “saving $500 this month”) can be a lot more helpful because it will make you stay focused and stick to your initial plan.
Clear goals can be a lot more efficient when it comes to motivating people to save more money – so you should definitely try this next month and see if it works best for you. Keep your goals realistic, though! Unrealistic goals will do nothing else than disappoint you!