Easy ways to save money every day starts with a reoccurring theme. Every morning, spend a few moments reviewing all your expenses and bills and make a list of those which you can eliminate or reduce, or both. There is too much waste in our economy to ignore the fact that many of the things we buy are impulse buys, which get paid for only once or twice in our lifetime. Look at the amount of money that consumers squander on impulse buys every year: it’s staggering! And this, by the way, is where most of us are falling behind, and paying more than we need to.
The first step in setting yourself free from this stranglehold on your finances is to take inventory of what you already have, both in terms of income and in terms of savings. If you have a 401(k) account, make a list of the cash value of your account, including any matching contributions you are eligible to receive. Write down your expenses as well, including what kind of food you buy, whether you travel, what kind of entertainment you pay for and so on. Do the same for your spouse and children; if you have a budget for them, go over it together and make a list of all the family spending on every category, then prioritize it.
Once you have done your shopping and prioritized your expenses, create a budget. For instance, if you spend more than $100 a month on clothes, maybe you could do with a few new outfits or even new shoes each month. Or if you don’t want to change your wardrobe, sell whatever clothes you don’t need and use the money to save money at the same time. Another idea is to set aside a portion of your income each month for small emergencies, like paying the electric bill or fixing your car. If you have a credit card, consider charging an amount for certain purchases which are easily replaceable, like gas for your car. Or if you have a debit card, you can transfer the money to it and use it to purchase items that are easy to replace, such as groceries.
Don’t forget to take care of your health! You can save a lot of money by increasing your level of exercise, and in turn, saving you money each month. One of the best things you can do for your finances is to quit smoking and drinking, both of which have serious adverse effects on your health. These things cost you thousands of dollars in medical bills each year, which is why you should quit before they cost you a lot more. Consider buying a hybrid car if you drive often. In addition to reducing your dependence on fossil fuels, owning a hybrid car will also help you save money on gasoline costs, which is another good reason to stop smoking.
You can also use easy ways to save money every day by avoiding buying things you don’t need or using up too much money when you do buy these things. If you’re not planning to use a lot of money while traveling, then invest the money you do have in savings account or in buying a new camera or phone. If you’re going on an extended vacation, try to find a hotel that offers you free breakfast, as this can really add up over time. Remember, it’s not how much you spend, but how much you save!
You can save even more money on entertainment costs. One of the easiest and most fun things to do is to rent or buy a movie. You’ll save even more money doing this if you get the rental in advance. Just make sure you know when you can expect the movie to be available for rental. This is one of the most fun and easy ways to save money on entertainment, and it doesn’t take much effort to put together a list of movies that are available and call the movie rental companies to see if they are offering free rentals.
It’s never too early or too late to start planning for the future. Many people tend to wait until they are facing a financial emergency before they start saving. However, by putting away a little money each week, you can pay down some of your debt, purchase a new wardrobe, or build a backup plan in case something major happens. There are no easy ways to save money, but there are plenty of great things you can do to improve your finances. Start today to see what you can do to improve your situation.
You can always trust the experts to tell you which ways are best for you. But the best way to learn about saving money is to do it yourself. See what you can do each week that will help you save money. See what bills are affecting your monthly budget, and see if there are any easy ways to cut those out. Once you start saving money every day, you’ll wonder why you didn’t do it sooner.