save money

Most people could do with a little extra money in their pockets, right? But saving can be difficult, not only because some employers severely underpay their employees (which is an article for a whole different day), but also because it requires discipline and planning to save money in the first place. Those are two things that, whether we want to admit it or not, a lot of people lack. But, there are ways to make discipline and organization come easy. The next few tips you will see are tried and tested ways to make sure you always have a little extra to put away at the end of the month or how ever frequently you earn.

So, could you do with a little extra cash but don’t have the time to work a side hustle? You’re not alone. A lot of people could use an income boost but finding an angle to make their finances balance better isn’t easy. Budgeting is key in making better financial decisions and making whatever you earn stretch for your needs. Budgeting well can also allow you to put some money aside as part of your savings. Having cash for a rainy day, or even set aside for a specific future purpose (buying a house, tuition, starting a family, a holiday), is a necessity. You need “fall back” money. So, how can you save your money more effectively?

1. Learn to go without certain things for a certain season

There are certain creature comforts that you may enjoy but that aren’t necessarily, well, necessary. At least, not all the time. If you are trying to save some money, you may have to cut some of your extras out or simply cut down on them. Were you buying a new video game every month? Buy one every other month instead. We’re you getting your nails done every week? Get them done every three weeks or do them yourself at home. This is not downgrading, it’s called prioritizing. You need to practice the famous saying, “Do what you NEED to do now so you can do what you WANT  to do later.” Budget your wants now so you can do whatever you want later.

2. Buy bulk

Try to purchase any home items you can in bulk. Not in a crazy, “I need to stock up on toilet paper just in case it runs out in the stores” kind of way, but in a, “I don’t want to have to worry about the basics in the event my money doesn’t stretch very far next month” kind of way. If you have most or all of your imperishable goods reasonably stocked in advance for a certain amount of time, you can save on those things by not having to stress about those purchases every month. You’d be surprised how much this tactic can both reduce your stress and increase your savings.

3. Put some cash away immediately

Out of sight, out of mind, right? Okay, probably not. But, you need to have the discipline to put away a little every month and if you wait until after you have paid for certain things or started calculating bills, you most likely won’t do that because you’ll already be too overwhelmed to do it. Put a little bit of money away as soon as it hits your hand or bank account. This is the best way to make sure you have some savings. I’m not saying you have to put away a large sum of money. Even a little goes a long way. Put away just $20 if that’s all you can spare. But put something away as soon as you receive your money.

4. Always overshoot

Don’t budget to the letter. Instead, when you are calculating your groceries or bills, round them up a little bit. Why? You are leaving less of a chance for any extra, unexpected charges to catch you by surprise and you’re also giving your budget breathing room. You’ll find that you always have something left over to put away when you do this. This tip ensures you’re always prepared and on top of your budget.

If you incorporate all or even just one or two of these tips with your finances, you’ll definitely see a difference in the way your money works for you. Do you have any hacks you use with your personal finances to help you save money? Let us know in the comments.

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