We all have the temptation to see the pessimistic side of personal finances. We say that we do not get enough money, but we never think about the expenses we make and whether or not they are justified.
“I can not manage with the salary I receive! I’d like to save some money, but I can not do it! After I pay the rate to the bank, I only have money for the strict necessity! What is your secret, how do you save money?”
Let’s make a “battle plan” together. Below I made a check-list with ways you can save. You can check the things you already do. Those left unchecked, you can test them to see if they work for you.
The first thing you have to do is plan your monthly budget. Make an Excell document to include your spending over a month.
On a column, you can pass on utilities – maintenance, electricity, cable TV and internet, mobile and fixed telephony, etc.
Another column belongs to the current expenses:
– baby related expenses: milk, diapers, clothes, medications, kindergarten expenses, school etc.
The third column is assigned to occasional expenses: city exits, wardrobe renewal, household goods acquisitions, etc.
A fourth column is for travel expenses: fuel costs, car maintenance, public transport subscriptions.
After a month, you’ll be able to see exactly what your salary is doing and if you have had extravagant spending.
20 easy ways to save money
1. Always make at home a shopping list when you go to the market! Even it may be tempting to “derail”, try to stick to the plan.
2. Never buy more than you can eat! Did you know that up to 48% of all food purchases go to the trash?
Translation: There are real chances of wasting up to half of your food budget, if you loose yourself on the waves of shopping!
3. Hunt Hypermarket Offers! Very seriously: did you know that big stores have every day serious discounts on different foods? You can benefit from price reductions of 25-30% if you carefully look among the shelves. If you go shopping in the evenings, you can find even 80% discounts for foods whose stock is in the end or that did not sell well throughout the day.
4. Go to the market for vegetables and fruits! Usually, prices are much lower than those in the Supermarket. In addition, from April to October, buy seasonal fruits and vegetables. It’s cheaper and healthier to eat vegetables and fruits in the hot season than to buy them in the Hypermarket at winter at exorbitant prices.
5. Cook in the house with your loved ones. Besides the obvious financial benefit (it costs more to eat at the restaurant, fast food or in the cafeteria), you will spend quality time with family and have fun.
6. I know it’s not a novelty – you probably heard this: try to save water, close the light in the rooms you do not stay in, do not let the air condition go without need, and during the winter, do not waste the heat.
7. During the week, prepare your lunch pack from home. Avoid eating at the cafeteria or restaurant or ordering take-away.
8. Consult online shop offers if you plan to purchase electonic products. You will find out where you can get the best price for the desired product. In addition, you’ll find plenty of reviews about it and find out how well it fits your needs. At the same time, you can find more suitable alternatives, offered by users like you, who have tested them before you.
9. Do not use a credit card! It’s a product that just gives you the illusion that you can buy more. Finally, the maturity will come and the amount will have to be covered in some way. And interest can also reach 25-30% per year. In addition, any credit card has a fairly steep annual administration fee.
10. You can make a debit card, through which you can get various discounts on shopping. However, it is a good idea to make your calculations before: this product has administration costs. Thus, if the total value of discounts does not substantially exceed that of administration costs, just abandon the idea.
11. Use discount sites to buy vouchers for various entertainment in town. With a little attention, you can save each month an important amount and, at the same time, you will have a rich social life.
12. If you want to renew your wardrobe, go shopping during rebate periods at season change. You can save, even 50% of the price of the product. I recommend that you carefully study the market in advance to get a real benefit from your purchase.
13. If you have small children, try – as much as possible – to borrow cribs, trolleys, toys and clothes from friends or relatives who had small children or buy them second hand on websites where you can see exactly what the status of the product is. By the age of 12, children change clothes every season, so you will waste a lot of resources if you buy new clothes every 3 months.
14. Discard your fitness subscription, reduce car journeys and walk more or use a public transport. You will save gasoline, will make more movement and thus you will also gain in Health. If you still have to drive, I recommend that you try to solve more things in one trip.
15. Choose to go on holiday at the beginning or end of the season. It costs considerably less than a full season stay. Early book your holidays – you can pay 40% less if you book your tickets from November or December for the next summer! You can also opt for a last minute offer, but here you have to know that you will not always be able to choose the destination of your dreams. In addition, if you notice that a particular hotel has too many available places at the last moment, it may be that the offer hides some problems.
16. Quit smoking! You will literally win years of life, health, and a pack of cigarettes in minus a day will bring you considerable savings.
17. Try to prepare your coffee at home and avoid coffee machines.
18. If you are addicted to gadgets, make a serious calculation of the expenses that this custom generates over a year. You may have an unpleasant surprise …
19. Optimize your bank charges! If you have active accounts with multiple banks, you can choose to close those that are not absolutely necessary. Ideally, you can stay with one account, from which to handle by internet banking all operations, including paying utility bills. Any additional account opened with another bank will incur administrative fees.
20. Do not make personal loans unless it is absolutely necessary. In addition to interest, you will also have to pay a whole series of commissions and, instead of saving, you’ll spend.
Try to save money through the above methods and it is very possible to discover that you will be able to purchase the desired product or make an investment only from your savings.