We all want nice things in life but where are we going to get the money to pay for these things? It’s called saving your money. Below are 10 good tips that will help you save your money efficiently.
Tip #1: Save on Entertainment
- Cancel all of those magazine subscriptions, they just sit around and collect dust and besides all of that information is on the internet for free.
- Cancel memberships to gyms because taking a walk around the neighborhood wont cost you anything and it does the same amount of good as it does in the gym.
- We all love love to buy new clothes and go and do nice things once in a while but think of all the money it will cost you. Remind yourself that you’re trying to save your money.
Tip #2: Save on Car Costs
- Check your tires for the proper air pressure. It will save you from buying new tires and it will save you money on gas
- Watch your mileage each month to save on expenses
- Just by changing your air filter can raise your mileage by 7%!
Tip #3: Saving on Food
- Bring your own lunch to work instead of eating out every day
- Drinking bottled water helps, just buy some reusable bottles and you’ll be good
- Make your own coffee in the mornings (if you drink it)
- Buy your own snacks instead of going to the vending machine
- Buy your food for the week based on what’s on sale (have a snack before going)
Tip #4: Saving on Family Expenses
- Generic brands provide the same benefits as name brands
- Dropping all of your bad habits is a great way to save a lot of money
- Compare prices and long-term costs with things like life insurance and financial planning
Tip #5: Saving on Household Energy
- Unplug anything you aren’t using
- Turn off the lights when you leave the room
Tip #6: Saving on Personal Expenses
- Compare cable and satellite costs if you really like watching TV
- Compare phone plans and make sure that it’s the right plan for you
- Establish a one-month grace period for purchases that you’re really excited about. Write down what you really want instead of buying it. Once you write it down wait a month to see if you still want it.
- Cut up your credit cards
- Save up your money for things, you’ll value them more.
Make and Stick to a Budget
- Online banking makes it easier to keep track of what’s in your account, how much you’re making, how much you spend, and how much you can save to pay off your debts
- Set high saving goals for yourself
- Pay yourself first, take the money from your checking account and move it to your savings so you can’t spend it as easily
- Put a set amount of every paycheck into savings, regardless of what is going on around you
Saving your money is hard, but if you follow these few tips, you’re sure to save a lot of money in no time. This is especially important in teenagers because they spend more than they earn, and it is best that they learn how to save their money now rather than later.