Try These 5 Easy Ways To Save Your Money
Lately, in our world of instant gratification, it’s become more important than ever to be able to stay focused on saving money. So to help you monitor your spending habits and cut expenses, here are 5 easy ways you can save every day—starting right now. How’s that for instant gratification?
1. Map out your financial goals. Be very specific with your financial goals. When you know what you’re aiming for, you’re more likely to stay the course and continue saving for the long term. For example, saying, “I want to save for a new apartment” is not enough. You need to specify how much you’ll need, what date you will need it by, and then set a realistic amount for yourself that you can put away each month. Setting realistic expectations is crucial. If you don’t end up meeting the goals that you set for yourself, you are the only one who will suffer the consequences.
2. Keep your eye on the prize. Staying focused on your goals takes discipline and determination. Saving can seem really exciting at first as you watch the numbers in your bank account climb. However, after a short while, it can become easy to lose that initial motivation as you start to find other things that you can spend that money on. To avoid losing sight of your saving goals, keep yourself accountable!
3. Plan out your meals for the week. Taking a few hours out of your week to grocery shop and plan your meals out will definitely save you money. By eating at home, you save money that would otherwise be spent on overpriced food as well as on tax and tip—and you usually save calories, too.
4. Cut out cable. With cable prices on the rise, and so many cheaper options such as Hulu, Netflix and Amazon Prime, you can now watch your favorite TV shows and movies for a fraction of the cost of cable TV. So what are you waiting for? Go home and cancel your cable today!
5. Make coffee at home. This one is hard, because most people love their morning routines at their favorite coffee shop, over a hot cup of Joe and a nice conversation with your neighborhood barista. However, spending $4 to $5 on coffee every day (at least!) definitely adds up. If cutting your coffee run out of your schedule is not an option, you can compromise and start making a pot at home at least a few times a week. Once you notice how much you’re saving, it might be the motivation you need to cut out your coffee shop stops completely!