With all the gadgets and toys you can buy today, saving money can be very difficult. While having small financial victories are great, being able to save money, buy homes, cars, and travel is a real victory. In honor of our September honoree, today we are going to share a few simple ways to save money.
One of the best recommendations and the most effective ways to save money is the 50/30/20 method. 50% goes towards needs and bills, 30% goes towards wants, and 20% goes into your savings. If you break down each check, write it down, and stick to that outline, you will be able to budget and save much more!
Collecting change is a much simpler way to save money, but can be very impactful. Put a jar by wherever you keep your keys and wallet, and whenever you have loose change, drop it in there and watch it add up. At the end of 3-6-9 months, take it to your bank and drop it in their change counter. You’ll be amazed at how much you’ve saved.
They say there is an app for everything, and there are plenty to help budget your money! By putting in your income for each week or month, what your bills are, and necessities, you’ll be able to have the apps help you budget better.
Save Your Receipts
When you can physically see something, you’ll be more aware. When you purchase something, throw the receipt into a folder and at the end of the month, grab your bank statement, and add up how much you’ve spent. You will see things that were and were not necessary to buy. Collecting your receipts will be a great reminder when going to purchase items in the future if they are essential.
Subscriptions are the way of the world. It seems everything we buy is on a monthly renewing cycle. While it’s great to have things delivered to your door every month, make sure you only have the ones that you genuinely need on renewal. For the things that you do not need, set a reminder in your calendar to “skip a month,” that way you don’t have to entirely cancel the subscription.