Since we live in a consumer society, it’s considered normal to own many things that you probably don’t even use, or clothes you buy just because it’s appealing to the eye. Sometimes, it’s better to store this money away and save it for the things that are actually practical or that you can use for your job or education.
If you aren’t sure how to live on a shoestring budget, here are a few tips that can come in handy if you decide that it’s high time you changed your spending habits. Instead of making another unplanned impulse purchase, check out the tips below, and save more money starting from today.
How much do you actually spend? This question is easy to answer if you realistically look at your current lifestyle. Eating out, smoking cigarettes, or going out too many times in a week are making you break the bank.
If you feel like you’re out of control, download an app or a spending tracker that can help your record your expenses with more ease. Divide the expenses into categories, and see what is the biggest waste of money.
Cutting back on the amount you spend on your biggest expense is the first step towards saving more money. In the beginning, you don’t need to make payments in cash, but use a credit card so you can have a clear spending overview at the end of the month. This means to check your credit card statement to see exactly how much did you manage to save.
Do your research
You need to keep track of your weekly and monthly spendings but also do your research beforehand.
When it comes to everyday expenses, you can make a perfect grocery shopping list, by replacing the expensive items with cheaper ones and eliminating unnecessary things. Try sticking to this list for a longer period of time. You employ a similar strategy for every life necessity such as fuel, electricity, or clothing. There is always a cheaper alternative if you’re not willing to pay more.
For example, Fuel Card Report allows you to find and compare the best offers, so you can find a perfect fuel card for yourself. If getting a cheaper version of a fuel card is your number one priority, this website will help you find it. By going to the website, you can find all the necessary information about different fuel cards and see which card type suits your needs the best.
Make sure to be informed about discounts. You can check different websites to find out what items are discounted and how much money you can save.
Another way to save money is to use coupons. You could save thousands of dollars in only one year of couponing. Even if you prefer name brands instead of cheaper items, you can get your favorite brand name for free with the aid of a coupon and “ON SALE” sign. Cheaper items aren’t the only ones that go on sale, so make a list of items you need for this week and coupon away. Don’t overbuy or hoard just because it’s cheap. When you’re in a store, always ask about discounts, sales, and offers and take their free coupon booklets with you.
There isn’t the best strategy for saving money. There are only strategies that work for you and the ones that don’t.
Some people prefer making lists, while others take risks and rely on their intuition. Make sure to regularly keep track of your expenses and always be honest with yourself even if you break some spending rules. Then, check the websites to see what offers, deals, and cards you can get.
Last but not least, pay attention to discounts. It might sound old-fashioned and boring, but it can save you a ton of money! Are you a big spender or a cheapskate?