Five really obvious ways to save money better than you did

[King bell]

1. Plan your expenses: This may seem like an obvious one, but you'd be surprised how many people don't actually sit down and plan out their monthly or even yearly expenses. By taking a little time to figure out where your money is going, you can easily save a lot more of it.

2. Invest in yourself: One of the best ways to save money is to invest in yourself. Whether it's taking a course to learn a new skill or investing in some quality self-care, when you invest in yourself you're more likely to see a return in the form of savings.

3. Make a budget and stick to it: Another key to saving money is to make a budget and stick to it. Determine how much you can reasonably save each month and then make sure you don't overspend. It may take a little discipline at first, but it will be worth it in the long run.

4. Live below your means: One of the simplest but most effective ways to save money is to live below your means. That means spending less than you earn and being mindful of your spending habits. When you live below your means, you'll have more money to save.

5. Automate your savings: One of the best ways to make sure you save money is to automate your savings. Set up a direct deposit from your paycheck into your savings account and you'll never even see the money you're saving. This is an easy way to make sure you always have some money set aside for savings.

 

[Hassanbenjamin]

True and enlightening one or should I say discovery or research. I was once a very principled young man in terms of spending and managing money or resources rather. I don't mean to be controversial on how I put or present my comment but it will be everyone's wish to plan, save and always have money in their possession but looking at how the economy in the country I stay is growing pretty poor by the day, I don't think such ways are going to be easy or rather impossible.

 

[btaliat]

Saving is a habit and not really an attitude. People that do not have the inbuilt habit may still find it difficult to get money saved. I have seen a friend that is earning 6 digit money but still always get broke before the end of the month. This is someone that has not married. I pity his future.


What can we do to make money and what do I learn for my said friend? I learnt that you need to find more ways of making money. The reality is that there is global economy meltdown which means the purchasing power is now low as the value of money keeps on degrading day by day. This must necessitate serious minds to find more ways to make money. It will not be easy to save money if someone is earning on just only one way.

Other thing is that we don't need to buy what we don't need so that we won't end up selling those things that we are buying. I could remember my friend buying all the latest designers. He rented expensive apartment. Nice he found it difficult to save. This means that no matter how much we may be collecting, we need saving first before we spend.

 

[Jasmine]

In order to save money, you need cash flow management skills. cash flow management means you exactly know how each penny goes out from your pocket or bank and how each penny comes into your wallet or bank. In other words, you know about your income and expenses. When you know how much money you are making and where your money is coming from, and how money money you are spending and where you are spending money, you can easily mange your money. Managing money means you spend less so that you have spare money. If you are already cutting your all unwanted expenses, still not being able to save money, you need to build other income streams. If you are working on a job, try to switch to other high paying job, if you have reached the saturation level in your job, try side hustle, try working over time, etc. and earn more.

 

[Holicent]

Making a plan should be your first priority. You must be very certain about how and what you will do with your money. You will just waste time and money if you don't have a plan. Spending more than you make is the second obstacle to making money. This means that if you make $500 per month, you should attempt to spend less than $500 per month. While it could initially seem challenging, as you get used to it, it becomes lot simpler than previously. Procrastination is the third issue that prevents people from making money.

When someone wants to conserve money, procrastination may really make things difficult, especially when it comes to paying bills or getting paid back on loans or credit cards. The reason for this is because there are so many things that are due before the end of the month and so many things need to be done by then that it seems impossible for them all to be completed on time without some help from others.

 

[Rubz]

Having a saving budget is definitely one of the best way to save efficiently. That way, one would be determined to cut unnecessary spending and meet up to that budget. I often pity people won't to live above their means because they end up running into serious debt. It's better to live below your jeans and save for future use than to live above your means and run into debt. Unnecessary spending often comes about when one doesn't plan his or her expenses, he or she might end up regretting and wishing they saved the money. The best kind of saving ids automatic saving where one keeps their money in a bank. That way, the money is kind of out of one's reach.

 

[Heartstrings]

All your points are valid,truly planning your expenses is actually very important and at the end of the day,you will save up whatever is left of it. I also learn this from my mum,she can plan with any little money she has. Some people spend anyhow and Stu think why can't they save,you can not save with such lifestyle. When you spend anyhow with no plans or budget or spend more than you earn,then don't expect to save, because such habits won't let you.

Actually when some people have enough money to spend,they never thought of saving,all they want to do is to enjoy their money and themselves, some went ahead to buy things not needed,going to parties and self treat. When the money is almost finish they results to dept or selling off some of their personal things so as to cover up for the shame which is very bad.

 

[arunima25]

Saving is more about inner discipline and a habit than an external imposition. This habit has to be inculcated right from an young age. If one fails to do that at right time, it gets challenging to develop it later. Parents have to live that and pass it onto the children being an example. One needs to develop a respect for the belongings and take good care of it. Else you end up buying more. Judiciously use your resources and keep a bucket aside for savings. The points that you have mentioned are valid ones. Financial planning and budgeting are important to stay focused and even more important is the determination to stick to it. People plan a lot but then it doesn't work well because they fail to execute ot in the right way. Having different buckets while planning your finance is very helpful. You are sorted out with your priorities and your capacity to stretch. Besides the different buckets that one sets for saving, a bucket aside for emergency is a must. You never know when an unexpected emergency might come in your way. It's a big mess if you are not financially prepared for it. Every wise person advices to keep aside some savings for rainy days.

 

[Abigael]

These are all very good ways to save money better than you did before. Indeed they are all really beneficial tips that one should use in order to avoid living paycheck to paycheck.

Analyzing your spending is very important. When you put an eye's bird on how you have been using your money, you will notice where you waste it so that you can make changes. Then you will also decide what your needs are so as to satisfy them before your wants.

Then you need to budget your money. Have a plan on what you want to buy and how much you want to use periodically. Without a plan, you may find yourself spending unnecessarily.

Lastly, have some self discipline. All these will be in vain if you cannot control your own spending habits. Self discipline grows everytime you say no to a bad spending urge. So keep on saying no till it gets easier to say it.