We can hear our brain subconsciously tell us, ‘Stay in budget’ when we are on our way to making spendthrift decisions. But it is easy to ignore that voice and go ahead anyway. What comes next is that nostalgic feeling when your money is all gone at the end of the month, and you are left with regret over what you did.
There are some smarter ways to make sure you come out at the end of the month feeling relatively satisfied with your bank account. We can help provide some basic strategies to save every extra penny you make:
- Track down your money:
Most of us generally face blackouts when we think about where we spent our money in the past month. A well-defined monthly budget can help you recover from your blackouts and have a positive impact on your savings account. However, most people struggle to make a proper monthly budget. Here is how:
- Outline your monthly income
- Define your monthly expenses
- Set aside for the occasional/ emergency expenses
Instead of receiving a minor shock every end of the month when you check your bank account, this budget outline can help you keep track of exactly where the money is going. Once this is in order, the next step of saving money while borrowing becomes easier with Justrightinstallmentloans.com .
- Every penny counts (Stash the loose change):
We all can hear the annoying loose change rattling at the bottom of our purses or wallets. One way to save more and get rid of that irritating clatter is to empty out the bags or wallets and separate all the loose change. Although most of us have outgrown the use of piggy banks, they can be easily replaced by jars that have fun and motivating labels, for example: ‘Trip to Europe’, ‘Tickets for Coldplay concert’, ‘Funds for Channel’, depending on what exactly motivates you to save for the most.
- Dine-in, at home:
As desirable as the option of eating out seems, it is also the main source of income drain. Eating at home can greatly reduce monthly expenses and help you save a good amount of money, whilst keeping your appetite satisfied.
Cooking at home does not require you to be an expert chef. There are a handful of easy cooking tips on the internet and half cooked meals available at grocery stores. Similarly, brown bag your lunch, as it can save overpriced lunch at work daily. It is all about spending wisely.
- Train yourself to take the train:
Or any other mode of public transport available. Public transport can help you drastically cut down commute cost compared to expenditure borne by personal transportation. Public transport is an easy, efficient and cheap way to get back and forth to work. If your workplace is relatively nearby, another good alternative is to walk or bike to work. This will help you stay healthy and cut down on your transportation cost.
- Savings are closer than you think:
Most of the times, a lot of money is wasted on home expenditures that can be easily avoided in the first place. These minor precautions require vigilance on our part, for example turning off extra lights and switches around the house or installing energy saving bulbs is an effective way to cut down the electricity bills.
It is easy to take note of all these minor ways to accumulate savings. One easy way to remind yourself is to list them down on a sheet of paper and pin it on your fridge. This way at least you will remember to turn off the kitchen and hallway light on your way out for work or before bed.
We all dream to save more, but we are not getting anywhere with this dream. At the very least, it is important to get on the track to save more, and these handful strategies can help do so. It is imperative to take the initiative, and there is no better way than these easy techniques that can be adopted easily. Once you are on the right track, you begin to make smarter decisions regarding your monthly expenses and can finally relish at the sight of your bank account at the end of the month.