Stay on Budget in 2015 with 8 money hacks.
Stay on Budget in 2015 with 8 money hacks.
Money saving tips tend to be easier said than done, , which is why so many of us find ourselves scrambling for spending money at the end of every month. Having just finished the very expensive festive season, it’s pretty safe to say that a lot of us could benefit from some penny pinching this time of year, no matter what your financial situation.
Money is just numbers that make the world go round. The best way to make your budget work is to take control of your numbers. What it means is, you probably heard of it before; writing down everything, planning ahead, and shopping around. It sure doesn’t sound like a lot of fun, but the benefits of budgeting are well worth the effort. Here are eight easy money saving hacks to help you get started.
1. Write Down EVERYTHING, all your spending:
Seeing everything on paper can help you see where you’re spending your money, and how much you actually have to spend on after-work drinks and trips to the bookstore.
2. Open a Savings Account:
Set up a certain percentage of your paycheck to always be deposited someplace where you won’t spend it. This is money for later on i life or maybe even for an emergency. Doesn’t have to be much, anything from $20 -$30 a week, but over time it will add up. Go with what you can afford.
3. Take Out Your Spending Money in Cash
Once you have calculated your living expenses, work out what your spending money is. Take that amount out in cash so it is clear to you that this is your only spending money and you don’t make the mistake to over spend as you would had it been in your card. Once you spend your cash pretty much signals time to head home. Use the cash as a reminder of how much you have left to spend each week.
4. Never Buy Anything at Full Price
Usually you can find whatever you want for a cheaper price if you wait a little bit or shop around elsewhere. Walk out and shop around or even wait a month and you’ll buy those shoes you had to have at half price.
5. Choose a Credit Card with Bonuses
If you can trust yourself to make your month credit card payments, choose a credit card that will give you some bonuses in return. If you’re smart, you can get a couple free flights every year, complimentary hotel rooms, or even cash back at the end of every month.
6. Plan Out Your Meals
You can save big with simple planning. Plan your meals to use the leftovers, preventing from wasting. Your grocery trips will become a lot quicker, and you won’t end up buying food that expires before you have a chance to enjoy it.
7. Pack Snacks and Water Wherever You Go
Buying snacks and drinks everyday will get very expensive. Pack snacks when you know you are going to have a long day out. Take a bottle of water with you refill it whenever you can. This little habit will save you a lot of money in the long run.
8. Check you bank balance daily
Knowing how much money is in your bank account helps to keep you from overspending.