Make Money Online and Save Them - Tips to Boost Your Savings Account
While you can nowadays make money online easily, saving that money requires a lot of discipline and planning but one you start seeing results, you'll wonder how you haven't done it by now! There are many ways to effectively save money, so choose what works for you and go crazy!
Tip #1: Make a budget
This may seem useless or overdone to you, but many people make the mistake that they just write an amount that they wish to spend for the month and when they exceed it, get demotivated and desperate. Well good news, programs like Excel offer you templates to create a thorough budget with separate sections, the way it should be done.
Divide your expenses by categories: commodities (rent, water, heat, etc.), food costs, shopping costs (no, you can't skip that, everyone buys useless stuff sometimes), additional costs (travel, phone and Internet bill, car care), medication if applicable and banking. In some of the categories you can actually predict the expenses and then based on your income, you can divide the leftover to the other ones.
Pretty simple, but works extremely efficient in the long run.
Tip #2: Never lose your consciousness
We've all been there- staring at an expensive item, which no matter if we need or not, are going to jump at and fight off anyone who wants to get it from us. Well actually, this impulsiveness is your worst enemy against overspending. Always rethink expensive purchases, sleep on it, check your budget and then decide on what to do.
Try to find a cheaper alternative, which is almost always completely possible.
Tip #3: Set objectives
Make a short and long-term objective on how much you need to save. With a certain amount in mind, you'll become more focused and determined. Also, order your goals by priority and set the biggest savings objective for the categories of things that are least-essential.
For example: You go to eat out at least 10 times a month and you go shopping 2 times. Determine which is more important to you and cut the other one at half.
Tip #4: Use limited resources
Don't spread your spending on multiple credit cards that you can hardly keep track of. Instead, assign all of your expenses to one of your credit cards or have the amount of your budget in cash. This way you will be able to see what goes exactly where and not end up with questionable expenses at the end of the month.
Tip #5: Make a confessions diary
Okay, this may be a little over the top, but for spenders who can't easily get rid of their old habits, it's the only solution.Set aside a notebook, where you write all of your saving "mistakes".
Whenever you buy a shirt just because it's on sale and it's outside your budget- write it down. Then at the end of each month take a look at what you've done and determine what you need to put more limits on.
Tip #6: Involve your loved ones
It's best if you keep your friends and family very close to your new spending habits. This way they would be aware not to take you to this super-fancy new restaurant or buy you an extremely expensive Christmas gift and make you feel uncomfortable. Furthermore, their moral support will be a huge drive for you to change your lifestyle once and for all.
Read more: Earn Extra Money, Extra Fast