If arriving comfortably at the end of the month becomes an unattainable goal, continue reading to learn some simple ways to save money and take care of your pocket without too much effort.
Either because end-of-month bills are stacking or because you want to give yourself a special treat, you need to have the discipline to keep the month’s budget at bay and finances under control. However, there are some simple adjustments that will avoid many unnecessary expenses.
Here we share with you 12 tips to save money
1. Plan your meals in advance
Instead of making small purchases in the supermarket and filling the cart with what tempts you at the moment, make a large assortment that allows you to plan what you will eat all week or even longer. In this way, you will avoid buying food outside of what is necessary.
2. Drink water
Although it may seem obvious, many people spend too much money on soft drinks and juices that they do not really need. Water – besides being the healthiest option – is cheaper than any other liquid. If you do not like to drink tap water, it is advisable to invest in filters that will later save you money in bottled water.
3. Eliminate luxuries
When it comes to saving money, your habits may be playing against you. You may not realize how much you are costing so many night outings or buying food at work instead of preparing it at home. Adding in the cost of those little luxuries can open your eyes to reduce unnecessary expenses, and even bring benefits to your health.
4. Establish a debt payment plan
If your goal is to free yourself from your debts, it is essential to create a payment plan to save money. There are several methods, but the most common is the “snowball” and the “avalanche”. The “snowball ” method works in the following way: all the debts are simply written on paper, from the smallest to the largest. Then, all the extra money is destined to liquidate, in the first place, the smallest balance. Once the smallest debt is amortized, the next one is paid until no more money is owed.
The “avalanche” method works the same, except that instead of ordering the debts by amount they are ordered by interest rate (from the highest to the lowest). This method will save you more money in interest, while the “snowball” will give you small rewards along the way.
5. Get a second job
In case the goal you want to achieve is taking more time than it should be, the best option may be to get a second job to save money. This does not have to be a permanent measure, only a temporary job that helps you get out of the situation you are in and fulfill your goal: either pay a debt, create a fund for emergencies or make that trip that both you wait A good option is to look in the field of services, for example restaurants or shops, since you can work at convenient times and even receive tips.
6. Question all your expenses
Do you really need cable TV? And how about subscribing to those magazines that you really do not read? Both cost money and contain ads that could stimulate you to spend even more. It is likely that there are several ends to trim from. To do so, it is advisable to make a list of all the fixed expenses of the month, find which ones you can eliminate completely, and then look for strategies to save on the remaining expenses.
7. Check your insurance
When was the last time you compared what you pay for your insurance with the other options available in the market? It is very likely that you will discover, after investigating a bit, that you could get the same coverage you currently have for less money. For this reason you should-yes or yes-check your insurance policies at least once a year.
8. Check your account statements
Whether it’s a debit or credit card, it’s critical to check your account statements every month. Random or false charges may creep into your account, which you can ignore if you do not review it carefully and frequently. If you have several cards, there are services that allow you to join them to see your transactions in one place.
9. Create an emergency fund
In case of unexpected expenses, it is very common to resort immediately to credit cards, creating unnecessary debt. Establishing an emergency fund that replaces the credit card will prevent a crisis from becoming a catastrophe. Start by entering small amounts each month for that fund, you will thank him later.
10. The 30 day rule
If you are thinking about making a large purchase, apply the 30 day rule to eliminate impulse purchases. Wait until that period of time elapses, and if you still want that object, you can consider making the purchase. It is very likely that you realize that this object did not matter as much as you thought and you end up saving that money.
11. Do not replace, restore
If you are thinking of replacing an object in your home, such as an appliance, furniture or decorative element, consider repainting it instead of getting rid of it. You can repaint from tables and shelves to your bathtub, and in this way renew the spaces of your home without spending a lot of money. Always consider this option before buying something new.
12. Do not avoid maintenance costs
Keeping your home and your vehicle in perfect condition can save you a lot of money in the long term. In your car, make oil changes and air filters regularly. At home, pay attention to small things that need repairs. Keeping up with the maintenance of your assets will prevent future problems much more expensive.
We hope this article encourages you to save money and you must avoid unnecessary expenses. If you like this article, please share with your friends and family.
