Few things in the world are as frustrating and draining as trying to save money when you’re already on a tight budget. The following will help you go through this with ease, giving you a better understanding of smart expenses and healthy habits that lead to savings.
Tips on Saving More Money in Your Daily Life
Use a Budget Spreadsheet
This is something that anyone should do, from the poorest people to the billionaires. In fact, the rich and successful ones always do this. Choose one of the templates available online for free, made to use in Excel or another similar program. Use these to plan your monthly budget and keep track of all your expenses. It will make you aware of aspects you normally ignore or simply miss. This can be the tool to save your finances.
Who do you go shopping with?
Ever realized how much others make you spend? If you take your children with you when shopping, they may beg for sweets or anything nice they see. Are you able to say no every time? Also, when friends join you, no matter how pleasant their company is, you could end up spending way too much money. They get hungry or thirsty so you have to join them at the bistro or coffee shop. They purchase an expensive brand and you feel compelled to do the same. Stop this. Go shopping alone and you will spend your money with discernment, only on the things you truly need.
Forget about snacks in the city
You can eat well at home or bring a snack with you – a chocolate, cereal bar or anything suitable you find at the supermarket, where the price tags are also more manageable. If you rely on the supply of certain venues, on snacks from coffee shops and other such location in your way, you will be paying much more for the same treat. It may not feel like it’s too much, but if it’s almost a habit or occurs several times per week then it’s adding up.
Shop around for new service bundles
You may be pleased with the current broadband or phone service, but the market is so competitive that companies always issue new and better prices bundles. You may find a suitable package if you shop around. You can get all the services you need from the same company and pay a lot less than with separate ones.
Insurance policies you can live without
Some of us are getting too many insurances. Keep your life anxiety in check and insure only what is truly at risk, like your house and vehicle. Many of the policies advertized nowadays are simply speculating people’s fears or convince them using false statistics and scary news. You may not need a home warranty, a pet insurance or even a travel insurance.
Handle the bills better
It’s hard to pay on time when you hardly have the money, but do your best to honor those bills by the deadline. If you don’t, they will incur additional costs and that is something to avoid. Also, your credit score will suffer. Paying those extra fees will only get you into more debt eventually. It could be several hundreds extra per year.
Get a cheaper cell phone plan
How many of those minutes do you actually use to make phone calls? Are 2000 minutes in the same network truly necessary? Are you really using up all those international text messages? Perhaps you could use a cheaper plan with fewer minutes in it. Also, you may not need a high data allowance if you encounter WiFi hotspots frequently.
Avoid those costly software licenses
Unless you are required to use only specific programs, you can replace pretty much any of those with a free alternative. For example, have the OpenOffice suite instead of Microsoft’s entire Office package. It is all legal and clean and you don’t have to spend anything on it.
The 24-hour rule
Did you spot an item that’s a bit expensive but you totally feel like buying it? Wait for 24 hours – at least! It could easily be an impulse purchase, which can be very damaging to your budget and take awy from your goal of how to save more money.
Also, it may prove to be a lot less satisfying that you expected. Wait for a day or two to see how you feel about it. It’s also smart to do some research and read reviews or have another look at the product. This technique has saved countless people from wasting money on things that only caught their eye for a brief moment.
Being on a small budget doesn’t have to intimidate you. As long as you can pull yourself out of the consumerist trends, all your expenses make sense and you stop wasting money. In most situations, there is something you can do better. Hopefully this guide has shed some light on certain matters and given you some ideas on how to save more money.