Want to spend less and save money? Me too! Here are 5 budget tips to help!
When it comes to spending money, many people go a little too far. If you’re ready to figure out how to save more of your hard earned cash, read on…
A lot of people transfer what’s left in their bank account at the end of the month over to their savings account.
But the truth is: That isn’t always a great way to save money.
After all, your money might fluctuate from month to month. And by the time the transfer has been made, all the purchases you may not have actually needed have already happened.
So it’s a much better idea to put money into your savings account right after you’ve been paid instead.
Pay your credit card bill, your rent, and any other bills that you might have. And then transfer whatever percentage of your income you have decided on into your savings account.
Do your splurging after you pay your bills and put away money for yourself in your savings account.
A lot of people have gym memberships that they don’t use, or that they don’t make the most of.
Sit down and figure out exactly how much money each trip to the gym is costing you. It may be more than you realize.
If the gym no longer feels worth it, it could be time to change your exercise routine.
A great way to do that is by getting outside! Hiking is an excellent way to get some cardio in. And it’s also an excellent way to explore your local area and spend some time with friends, family – or dog. Just make sure you get some sturdy walking shoes so you don’t get injured.
Jogging is also a good way to stay healthy. If you’ve never done it before, why not try Couch To 5K?
If you want to increase your core strength and improve your flexibility, you could try out some yoga at home. Yoga With Adriene is one of the most popular YouTube yoga channels. She provides different sorts of yoga – depending on what part of your body is sore.
Try swimming! Pools are a little less expensive than gyms. And swimming is an excellent way to get a whole body work out – without putting any pressure on your joints or exacerbating any old injuries.
We all live busy lifestyles. As a result, you may be spending a little more cash than you would like on takeout and going out to eat.
The best way to save that money is to learn to meal plan.
Think through the upcoming week and your commitments on each night. Afterwards, work out what the best meal would be.
When you go grocery store shopping, bring a clear list of what you need. After all, you don’t want to end up getting home with vast quantities of food that you won’t actually end up eating.
It’s also a good idea to start batch cooking on weekends. If you do, then you can take lunch to work instead of purchasing it. Plus, you can create balanced and tasty meals for yourself, if you spend an afternoon cooking.
If that doesn’t appeal to you, you can always take leftovers to work. Or slap together an easy inexpensive sandwich or salad.
Take your own coffee with you – instead of buying an expensive drink from your local coffee shop or Starbucks. This is also better for the environment – as you’ll end up using far fewer takeaway cups.
When most people open bank accounts, they immediately forget about it. Their bank account is a depository for their paycheck and that’s it.
But it’s important to make sure that you stay clued into what’s happening at your bank. Learn whether there are any accounts that might give you better benefits or higher interest rates that you can transfer to.
For example…this Bank of America review shows different aspects of that bank – which may or may not appeal to you.
Do your own research into a bank’s benefits. But if the research baffles you, go in and talk to your bank so that they can advise what the best account is for you.
If you can’t afford to support your local indie bookstore, go to your library instead. You can borrow endless books. Or you can attend free classes. Plus you can take your kids to story time sessions with incredible librarians who will be able to advise you about what books your kids might enjoy.
But if you see a book you think is awesome, feel free to invest. Investing in your learning and growth should be a priority.
At home, a neat way to save the planet and save your money at the same time is to use less electricity. The easiest way to do that is to switch off the lights every time you leave a room.
But remember that you should also switch off any appliances like your TV that may have been left on standby. Your TV uses almost as much power as watching it would use. So you should be on the look out for additional tips to lower your electric bill.
Switch to energy efficient light bulbs – they last for longer, meaning that you’ll replace them less frequently, and they also use considerably less energy.
When it comes to transport, consider how much you really need your car. Not only are they hugely expensive to run, but car insurance can also be extremely expensive.
If you live in a city, you may be able to walk more often or take public transport. And both of these things are much better for the environment than using your car all the time.
If you need a car, why not consider buying a used car instead of a brand new one? Brand new cars go down in value extremely quickly and they also require you to make bigger insurance payments, so you may actually be losing money if you go for one.
A used car might only be a year or so old but it will be a lot cheaper both to buy and to run.
A good way to save money is to start using your credit cards less. It’s good to use them strategically. In fact, many people use their cards to cope with debt.
For example, if you don’t have much cash in the bank – and you need to pay for your pet’s medicine – a credit card is a good way to do that.
But it’s important to make sure that you make at least the minimum payment every month. And that you don’t let the interest mount up too much.
Paying your credit card bill can actually increase your credit rating – and be good for you in the longterm.
If you find yourself making too many thoughtless purchases on your card, it’s time to go for cash instead!
Look at your weekly budget and leave your cards at home, getting cash out of the bank instead and paying only with that.
Remember: It will be a lot easier when you can actually physically see what you’re spending.
There are a lot of people out there who use spending money as a way to feel better. If you feel blue, you go online and blow some money on some new clothes.
You go to a makeup store and buy some products that you don’t need, even though you’re perfectly happy with the ones that you already have.
Many people use buying things as a way to get a spike of euphoria, to avoid feelings of sadness or boredom.
It’s better to deal with those emotions head-on instead of using your credit card to make yourself feel good again, because once that purchase is at home gathering dust, you’ll find yourself adding guilt to that list of negative emotions.
If you use buying things as a way to brighten up your day, you might be suffering from depression. Talk to your doctor about it. And maybe even try out a therapist.
If you’re stress shopping – and don’t have budget to see a therapist – then try meditating.
In my inexpensive book, Instant Calm, you’ll find a range of simple and fun 2 minute meditations you can do to calm your mind and bring back confidence and focus.
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