9 Easy Ways to Save Money
We always get many different advice but we are not always able to follow them. And sometimes again we promise ourselves that from next year we will do some changes in our life. Sometimes we do, but sometimes we do not. Here we suggest the most important and basic rules in order to save money.
Create your budget.
You should know your income and expenses. This way, you can see how much money you get and spend and can make financial decisions. Then you can know where you could save some money and know your financial opportunities.
Immediately put aside some money from your salary once you get it.
This can be a new technique. Imagine that, this way, you pay salary for yourself. Of course, it is only possible if you can afford some extra money to spend for such a thing. But if you can, then just do it.
Create clear objectives for money saving.
Then it might be easier to refuse for something when you know what your goal is. Besides, you could set a deadline, then you could approximately know how much time you have and you could see that it is for real.
Take care of your expenses.
Review all your expenses during the last few months and find out if all of them were relevant and necessary. If you find out that not all of them were necessary, you can cut it down for the next months.
You should never touch the money which is appointed for contingencies.
It does not matter what your bank customer service manager will promise you. They are just mostly trying to achieve their goals, you should be clear and convinced about yours. Do not let anybody to convince you to something you do not want at all. Every time consider yourself if it is worthy for you and if you really want it.
Collect money for investments.
And if you invest, make sure you know where you do that. It does not matter if it will be your own business, neighbour's garage, promotions, etc. Perception about where you spend the money you earned hardly might save you from the losses.
Choose the investments according to your appetite for risks.
The higher the profit, the bigger the risk. Keep that in your mind and make decisions accordingly. However, if you invest also some time in doing a research about some risky investments. Surely, the higher risk the investment has, the higher profit will be.
Start new activities to earn some extra cash.
Think about your capabilities, what you can do best. Maybe you bake the most delicious cookies? Or maybe you know some foreign languages and you could be a translator or teach children on weekends?
Pay in cash.
This way, you are more able to see where your money goes and can take control of it. Recently when credit cards have become widely accepted, majority of people has become used to pay by card than in cash. According to some researches, people spend less when paying by cash. Because then they see how much they spend and can control it.
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