Small But Easy Ways to Save Money
Start small for easy ways to save
These suggestions are small but easy ways to save money for many reasons, here are three. Most people don’t save because they feel overwhelmed by the amount of bills and emergencies that come up constantly. Start with small savings and work your way up. Place a jar on your dresser and fill it will extra coins from your pocket or wallet daily or weekly. This is only a start, but it is doable. Before you know it your dollar jar and your coin jar will be full, use this to start a passbook savings account. This is your first savings account. Later, I will tell you about other types of accounts as you become a more advanced saver.
Save by saving on everything you do
The daily and weekly things you must do are the things you should save the most on. Examples are gas, groceries, and utilities. Keep a record. This takes only a little time. You can keep a short journal or a small spreadsheet. Start at home first by creating a monthly budget. The more you budget, the more you will save. At first it will not seem that way, but the longer you do it the more you will see.
Figure out a way to keep your saving diary with you at all times and use it. The habit will become normal and before you know it, it will be second nature.
Windfalls are the easiest way to save big
When you get a big tax windfall, refund, or inheritance, use a portion to pay off or down bills (this saves on monthly cost), place a portion in savings and use the rest to buy what you need, and a small portion to buy something that is affordable and makes you happy.
The windfall seems natural to add to your savings. But, if you don’t get into the habit of thinking of using a windfall to get a head financially by paying off bills or buying things you need for cash, you could risk a bigger debrt trap. For instance, many people find themselves purchasing a major item they don’t need with their windfall and creating a large debt instead of paying cash. This makes your financial situation worse. Think in terms of using a windfall to make your life better.
Create a windfall diary. Know what you will use your windfall on. The more precise you are with reasons to go with each idea, the more likely you are to use your windfall to improve your life.
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Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist
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