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Saving money takes some discipline and planning. Whether your trying to say for a big purchase or just trying to start saving for retirement these money saving tips will help you reach your goals. Try moving your bill money into an account that is set to auto-draft your bills and be sure to pad the account with a few extra bucks for extra measure.
Don’t impulse buy, only get purchases if you can afford to purchase it twice, this practice makes you think about whether you actually need it. Additionally don’t spend money to impress others, they don’t have to live off of what you have in the bank, you do. They’re situation may be different than yours and it’s better to have money in the bank instead of suffering through the week eating noodles.
For credit cards, only spend what you know you can easily pay off. If your limit is $1,000 but you can’t drop down $1,500 in one payment, then you probably need to only charge a smaller amount like $500 or less, remember if it’s available to you, you’ll probably spend it.
Contribute to your retirement fund ASAP, $5 or $10 goes a long way when you start young, the money grows and gains interest for decades.
Save smaller amounts of money instead of big lump sums, $20 or $50 out of your check is nothing compared to trying to save $100 at a time. When you get your check, pay yourself first and take the money you want to save each pay period and put it in your savings account then pay your bills. After all you worked hard for that money so be sure you’re taken care of before anything else. The savings account that you save your money to should be out of reach, make sure you limit your access to it, meaning you would have to get in the car and drive to the bank to get the money. You’ll think twice about spending from it if you have to go out of your way to get the money.
Finally, know your worth and ask for what you deserve. Offering discounts or agreeing to a pay rate you’re not happy with only hurts you in the end.
What money tips have helped you financially? Tweet me @officialkikij
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