Saving money isn’t easy, but these few simple tips can help you save money in just one month. By the time April rolls around, you will have a fatter bank account and more confidence in your ability to save money this year.
Stop eating out
For just one month, cut out the expenses of eating out. It isn’t going to be easy but if you tell friends and family that you have decided to not eat out for one entire month so that you can save some extra cash, they will understand. Instead of eating out, invite your loved ones over for a potluck dinner and you can all save some money while still spending quality social time together.
Make coffee at home
Do you even realize how much money you spend on coffee daily? It’s a lot more than you may think, so start making it at home. Also, start carrying reusable bottles of water, buy the big jugs of juice and fill up smaller containers with it to carry, and don’t buy sodas at stores or restaurants. If you bring these items with you, you can easily save at least $20 a week.
Save 10 percent a week
How much money do you make weekly? When you get paid, take 10 percent of that out of your budget immediately and stick it in an envelope. If you were paid $400, you now have $40 in savings. If you are paid bi-weekly, still do the same thing.
For one month, don’t buy the name brand items you’re used to getting. You may be surprised at how well generic items get the job done and many generic or store brands are made in the same factories and just labelled with different packaging. You may even find coupons to make them less expensive. Also, take a look at you shopping list and determine what items you can totally do away with for the month. Some things you may not even need or use, yet you still get them out of habit. Break the habit and fill your bank.
Match your spending
If you buy shoes for $40, save $20. If you buy coffee for $5, save $2.50. If you feel like you can’t do this, then you can’t buy those items. If you don’t have money to save, you don’t have money to spend. It’s that simple.
What are your tips for saving a little extra every month?