Saving money shouldn’t be difficult. Check out our 8 best money-saving strategies.
Save today
Saving money on a daily basis has manyย benefits:
- Avoid spendingย that money on useless things
- You pay for a vacationย or something you really need
- Build up savings toย finance a projectย you dream of
you probably have projects that you keep putting off until you haveย enough savingsย to finance them.
If you’re still struggling to save your money, no problem, we’re here to help.
We’ve prepared 8 tips for you that will help you adopt the right habitsย to save money on a daily basis.
1. Make your accounts regularly
We advise you to recordย your income and expenses every day on specialized software.
This may seem cumbersome and time-consuming, but this action should not take you more than ten minutes a day.
If you prefer to do your accounts once a week or once a month rather than every day, do so.
- Don’t put pressure on yourself.
- Organize according to what works best for you.
- The most important thing is to do this action regularly, at least once a month.
We advise you to do it every day so that it becomes an automatism. This will be even faster on a daily basis.
By becoming a habit, it will no longer be a constraint.
Why do you have to do your accounts?
By recording your expenses, you’ll realize what you’re actually spending.
- When you withdraw money and especially when you pay with your bank card, you do not realize the expenses that accumulate.
- You think, “It’s not very expensive, okay.”
- It is at the end of the month that we realize that we have more money.
- This makes it impossible to save money.
- By accounting, you will realize unnecessary expenses that could be avoided or reduced.
You will then take theย necessary actionsย to reduce these expenses and you will finally be ableย to save moneyย each month.
2. Make your bank reconciliations
Based on your statements of accounts, don’t forget to make the bank reconciliation in your software.
That is, to write off transactions and amounts as well as the balances of your accounts.
This is useful because it allows you to:
- To have the real view of your bank account balance
- Make sure you haven’t forgotten any operations
- Add bank expenses
We recommend that you make this bank reconciliationย once a week.
3. Report your accounts
Report your accounts twice a month:
- Once before the 15th of the month
- Once before the 30th
Doing this assessment and on these dates will allow you to:
- Analyze the status of your account
- To predict future expenses. Did you spend too much at the beginning of the month and will you have to be careful what you spend the rest of the month?
- Determine how much you can save for the current month
Tips for saving money
To make this action to state your accounts effective, we advise you:
- Determine a sum to save at the end of the month. This sum will be your goal.
- Set a monthly spending budget based on your goal.
So when you report your accounts, you’ll know if you’ve spent too much or not.
This will allow you to take the necessary steps:
- If you’ve spent too much, be careful the rest of the month and limit spending
- If you’ve spent just the right time in line with your budget, stay on track. Be careful of fixed expenses that may fall at the beginning or end of the month and can unbalance your budget overnight.
- If you spent less than expected, remember the fixed expenses that may fall at the beginning or end of the month. If these expenses don’t negatively impact your budget, why not take advantage of the cost to save more than expected?
This state of the accounts will allow you to discipline yourself and adopt a different attitude.
Your goal will no longer be to close the month, but to have no overdraft while having saved.
Last tip:ย make a transfer to yourย savings bookย to secure your savings and avoid spending what you’ve saved.
You’ll see that this action will be much easier than it looks!
4. Set up your action plan
You must have already realized this: it is difficult to keep its resolutions at the beginning of the year.
If you really want to save money, then you needย an action plan.
We advise you to make a short but clear plan of action.
You can even display it in your home on the fridge or bathroom to remind you of it every day.
This will allow you to anchor theseย new habitsย in your mind and give you motivation every day, even when you start to lose it.
5. No more excuses!
Don’t make excuses not to save at least the amount you’ve set for yourself!
We are all champions to find excuses when we have to accomplish an important project.
Important
Starting to save every day will require you to make an effort, especially at the beginning. But don’t give up, it’s worth it.
Every month, saving will become easier and after several months, it will become a habit.
Tip to save quickly
Saving $30 a month or more can be very easy if you eliminate unnecessary purchases. $30 per month isย $360 at the end of the year,which is not insignificant!
6. Learn how to calculate your errands
We do it very rarely, but when we haveย small incomes, calculating the amount of what we put in the shopping cart is very important.
This allows you to control the shopping budget and not spend more than the goal you have set for yourself.
Be careful, you don’t need to make a calculation to the nearest penny.
The method to calculate your errands
Every time you put a product in your shopping cart, add the entire part of the price by rounding up or down.
- For example, if a product costs 4-20, you add 4 euros to your account.
- If the product costs 4-80, you add 5 euros to your account.
In this way you can:
- Assess what you spendz based on your budget
- Remove items that are not needed and do not fit into your budget from your shopping cart
To make choices an analysis is necessary and this will help you to see your unnecessary purchases andย to better manage your budgetย in order to be able to save.
7. Minimize your impulsive purchases
Many of us are making impulse-drivenpurchases.
Whether you have small or large incomes.
We are all human and the consumer society in which we live constantly pushes us to buy through well-crafted marketing and communication strategies.
- Television commercials
- Posters on the street or in the means of transport
- Advertisements on your phone or in your post boxes
- Attractive shelves
- Promotions…
All of this is intended to make us “crack.”
This works rather well because behind all the marketing companies hide cutting-edge scientific studies, based on our behaviors.
Therefore, it is difficult to resist.
But certainly not impossible.
To do this, you need to start thinking before you buy:
- Do you really need this product?
- Or do you think you were influenced by this consumer society (advertising, friends…)?
This simple question will allow you toย reduce your impulse purchases in the first place.
8. Place money on your booklet
We advise you to make at least one transfer per month to yourย savings bookย to save your money.
This will help you make sure you save money every month.
Tips to save money
It’s all about discipline.
If you succeed in establishing the habits we mentioned in this article, you will achieve your goals andย save money every month.
At first, it can take effort if you’re not used to it. We’re not hiding it from you.
But eventually, saving will become an entrenched habit in you.
You won’t think about it anymore. It’ll be automatic.
Invest a little effort at the start to benefit from exponential results afterwards!
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