Saving money is not always easy, but it is something that can be done consistently. With all the various methods out there, it is also quite easy to feel overwhelmed. Rather than trying out all the latest fads and get rich quick schemes that are out there, why not try some tried and true simple methods that are proven to work? For the next month, try the following five ways to save cash. At the end of the month, you will be very surprised at how much you have accumulated…and all without the bells and whistles.
5 Ways to Save Money This Month
Put back ten percent minimum
After you have paid your taxes and are looking at bring home pay, take ten percent out and sock it back for an emergency fund. It will take a little time, but eventually you will accumulate the six months of expenses that all the experts say you need. If you can save more, by all means do so. Set up a special bank account with Capital One to save your money.
Work an extra hour when you can
People underestimate the power of a few extra hours here and there. If you go to your boss, you might be surprised that they are willing to give you some extra. (Some, of course, will not) You really don’t know until you try, however, and saving is much easier with some overtime on the old paycheck. There is no replacement for hard work, right?
Eliminate or trim the extras
You all know what the extras are in your lives. These are those things that you do (Eat out, a million cable stations, party on the weekend, etc.) that you might be able to cut back on. If you are not saving and protecting your well being, why would you allow for extras? Common sense, right? Trim the fat and you will be saving money this month immediately. Put that money in an emergency fund too.
Begin meal planning
Meal planning sounds complicated but it could not be easier. The basics are this. Sit down and write your favorite meals as a family. Be sure to include healthy options and narrow your week down to specific meals each day. Then make a grocery list specific only to the meals. Shop off that list and don’t stray. At the end of the day, you are organized, saving cash and feeding your family healthy food. Everyone wins.
Streamline your family schedule
People have no idea how much money they waste on running around. Trips to the grocery store, school, work, Walmart and countless other places are expensive and you quickly run up a tab that kills your budget and your vehicle. To solve this problem, keep a family calendar and fill it out as far in advance as possible. This can be hugely helpful in taking care of those pesky chores. Perhaps you can combine trips for the doctor visit and the grocery store….etc.. You get the idea. Communication is important and you have to get your family on board for this to work.
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Cancel your cable. Seriously.