Learning how to save money is something that everyone can do and it’s simple. Saving money is on everyone’s mind especially now that the incomes of most people are declining as prices continually rise. Saving a lot for a short time then returning to normal spending habits isn’t going to do you any good. You must make saving money a habit for life, a lifestyle change for the better. It’s rather simple to make savings a part of your lifestyle that improves the quality of your life.
Little things like reducing your bills by small amounts at first can assist you in savings. When you make the budget be sure to include a small percentage of your pay into a savings account, and a retirement fund to ensure that you never miss those funds. The budget for the monthly expenses and other needs should not include the amount that is set aside for savings which means your budget has two parts.
Parts of the Budget
The first part of the budget is the area that is reserved for your total amount of take home pay minus the amount designated for savings. The second part is the amount that you have after savings and the complete listing of all your monthly expenses. The total of which hopefully falls below the amount designated for them. A good budget will have savings built into it to ensure that you are in the habit of it.
Reduce the Bills
Once this is in place you must reduce the amount of bills that you have by as much as possible and keep them as low and consistent as possible. The phone, Internet, cable and utilities are all bills that can be reduced or cut out completely. The phone bill can easily and quickly be reduced, especially if you have both a landline and cell phone. If you have both of these phone types you can cut off the landline since a fully charged cell phone isn’t that hard to manage these days and works just as well in an emergency. The Internet and cable can be examined for less costly options or if you find you don’t use either you can cut this expense out completely.
When it comes to reducing utility bills nothing could be simpler. Checking the seals on the refrigerator, freezer, and around the windows can assist you in lowering the power bill. Plugging computers, stereos, television sets and charges into power strips can help to make the money saving habit much easier. Instead of having to remember to unplug the individual items when you are done with them to save that small amount of energy you can simply turn the power strips off. The clothes dryer is a nice convenience but you can live without it. Instead of putting clothes in the dryer hang them out to dry, after washing a full load in cold water. The investment in a front load washing machine when it’s time to replace your will assist in the goal of saving money by saving energy.
Extras Can Go
Making your own coffee and breakfast at home in the mornings prior to leaving for work will cut out that morning stop that can quickly add up. This small step will ensure the pocket money that you have allowed yourself will last longer. When you make dinner at night making a little bit extra and packing it up to take as your lunch and snack for work will save you even more money. Paying attention to portion sizes can go a long way to making saving money a lifestyle habit.
Attention to Detail
Food packages all have the number of servings on them. Most of us pay little to no attention to them, by learning what actual servings look like it can assist in saving on the grocery budget and doctors bills. Reducing portion sizes can aid us in losing weight, as can making healthier choices at the grocery store which can help us to avoid trips to the doctor.
Going to work costs money, if you live in an area with public transportation, utilize it. If work is only a short distance away like just a few blocks you can walk or ride a bicycle on clear days. This will save on your commuting costs, so will car pooling with co-workers whenever possible. Planning errands during the times when you are already out and so that they are in the same area will help to reduce the amount that you spend on gasoline.
Impulse purchase avoidance
Shopping offers several temptations that can be avoided if you try. Using a list when you go shopping will assist you in avoiding impulse purchases just as taking cash to cover them will help you to avoid using a credit card or writing a check that can be over the budgeted amount. Smaller stores offer less temptation since you won’t have as many isles to wander down looking at items you don’t need but always seem to want.
Family outings can still be had but you must research low cost or no cost areas of interest closer to home. The library, the park and even a nature trail can be fun for the entire family. For these trips you can pack all of your needs to prevent stopping at convenience stores and paying more for them.
When it comes to large purchase prices, sizes and need should all be taken into consideration. Getting the right sized item at the right price is a must to saving money. The home doesn’t have to be full of the most expensive things we can buy it just has to provide us with shelter. Learning how to do things ourselves will save us money and make life better for ourselves. It’s actually rather simply to make saving a habit that last a lifetime.