Start Saving Money The Easy Way

Saving money is something most children are taught, but as they grow older, people are saving less and are spending more – and more.

While there are many ways and reasons why people spend more than they should, there are also many ways on how people can save money.


Saving money is something most children are taught, but as they grow older, people are saving less and are spending more – and more.
While there are many ways and reasons why people spend more than they should, there are also many ways on how people can save money.

• Keep track of your checkbook or bank accounts. If you don’t, you will definitely lose track of your cash flow. Dedicate some time in a month to really sit-down and review your finances. Based on this review, you can now already know whether your planned and unplanned expenses in the coming months are feasible.

• Check the way and where you have spent your cash – this can prevent any unnecessary purchases in the future. Compare your financial standing versus your savings goal. Whatever the gap is, whether you’re far from it or just close, start working on that savings goal as soon as possible. Do this as you may just be surprised one day that your finances is suddenly depleted because you lost track of your checkbook.

• Organize your cash on hand. As much as possible, only bring with you the amount you would need for the day. This means leaving your credit card or rather, credit cards as well to avoid impulsive shopping.

• When doing your groceries, keep a list of what to buy so you will not purchase based on impulse. Check the items that you already have so you wont buy the same items. Better still if you have your menu for the week so you can buy exactly just what you need.

• Schedule your vacations and do not just say yes to every invitation you receive (unless it’s free). But more often than not, unexpected expense such as a sudden trip can really burn a hole in your wallet. Apart from the fact that planned vacations are really more cost-effective, your overall budgeting may suffer if you take out a huge amount only for an unexpected luxury that you are not required to have.

• Eliminate long-term loans whenever possible. That new LCD TV model may look good on your living room but if you do not have enough cash to carry you throough the next months, you might want to defer your purchase.

You don’t need to wait for new year and have a New year’s Resolution about saving that can’t go past the 1st week of January. Just like all other things, saving money should be a habit, and you can start little by little. Do not overestimate on how much you can save, else, you will still be using the money you have allotted for as savings.
Be conservative for the first few months and after you have at least stabilized or normalized your budget and your expenses, only then should you allot a more significant amount to your savings.
Every dollar that you save can really go a long way. No matter how much you have saved, just remember not to use any of it up and add a few more in the coming months and you can then feel your savings really grow.