Sometimes, it feels impossible to put away the recommended 20-30% of your paycheck for savings. If you’re living paycheck to paycheck or struggling to find money to put away, check out these simple tips for saving money.
Read Money-Saving Blogs or Forums
It’s hard to stay motivated about money when you’re not thinking about it very often. To learn a ton of money-saving tricks, visit blogs like The Penny Hoarder or browse Reddit’s personal finance section. You can sign up for a weekly newsletter for many frugal blogs, which is an easy reminder each week to think about how you’re spending money. Money oriented blogs aren’t just about saving money: many of them also offer tips on how to find jobs and reduce your debt.
Cut Out Cable
Thanks to YouTube and Netflix, Americans are watching less cable TV. This is good news for you, as it’s easy to find the shows and movies you love streaming on Netflix for as little as $10 per month. That’s a lot less than the average cable bill, and you might be surprised by how quickly you’re able to make the adjustment away from standard cable TV.
Shop Around for Insurance
Car insurance can be quite pricey, so don’t stick with the first company that comes along, or continue to pay sky-high prices with your current insurance company. Take your time to shop for affordable insurance. Check with a Nationwide insurance agent in Denver to talk about insurance options to fit your needs.
Couponing is an art that takes a bit of time to get the hang of, but it’s usually well worth the time and effort spent. If you have a favorite grocery store, check to see if they have an app. Online coupon clipping is usually the most convenient, and you can browse for deals from your phone when you have time.
If you have a demanding career and a busy schedule, it’s understandable to wake up ready for a jolt of caffeine. Instead of heading to Starbucks a few times a week, reserve this treat for special occasions. Some coffee drinks are approaching $6 per cup, and when you go more than once a week, this really adds up. To save hundreds or even thousands of dollars per year, make coffee or tea at home.
Debit cards are convenient and easy to use, but it’s easy to quickly lose track of spending. Instead, withdraw cash for the week. Once you hit your budget, don’t withdraw anymore. Studies have shown that buying in cash makes consumers more likely to hold onto their money, so you might even find it easier to discipline yourself to stick to your budget.
Personal finance can be a bit tricky, especially when you’re just starting out. Whether you’re correcting finances gone wrong or you’re simply trying to establish good habits, it’s important to think about where your money is going and look for ways to save. To stay on track, regularly read about personal finance on frugal blogs and cut out nonessentials like cable TV access and coffee. Make sure to shop around for insurance to find the best deal, and spend time couponing each week to save money on groceries. Instead of relying on a debit card, withdraw cash each week to help you stick to your goals.