Best Hidden Ways to Save Money – Smarter Finance Journal

Best Hidden Ways to Save Money

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Every little bit counts! Here are some great everyday tips for saving money so that you’ll have more available to cover the things you need. Utilize these simple tricks and you’ll be surprised at how much more cash you have on hand at the end of each month!

1. Make A Budget and Stick To It!

  • Keeps you from living paycheck to paycheck
  • Allows you to save for future goals and dreams
  • Helps you avoid going into debt
  • Reduces the stress and worry about paying for bills

2. Set Yourself An Attainable Savings Goal!

  • Understand your income and expenses
  • Don’t anticipate saving thousands a month
  • This is a long process — slow and steady wins the race

3. Record Your Expenses!

  • Make a record of everything you buy
  • Track what you purchased and how much was paid
  • After a few months this will help eliminate excess spending

4. Put All Loose Change Into A Savings Account!

  • Every time you get change from a purchase, save it
  • Once your jar/piggy bank is full, deposit into savings

5. Use The Convenient, Automatic Transfer Features Offered By Your Bank!

  • You can set up automatic transfers from your checking into your savings
  • This will help eliminate, “I Forgot To Put Money Into Savings This Month”

6. Set Aside Savings From Your Grocery Store Visits!

  • Take the “amount saved” listed on the bottom of their receipt, and then put that in the savings account or piggy bank
  • It’s money you would have spent anyway, and can add up fast

7. Once You Pay Off A Loan, Continue Making Payments To Yourself!

  • This may be difficult, especially if you are living paycheck to paycheck. Try depositing at least part of the amount you were paying
  • A good example would be a car payment, even to continue a partial deposit will potentially be adding hundreds¬†to your savings each month!

8. Avoid Accumulating New Debt!

  • Once you have your debt paid off or under control, figure out how you got there and avoid repeating the same mistakes

9. Avoid Expensive Habits! (Smoking, Gambling, Excessive Drinking, Drugs, Etc.)

  • The price of cigarettes keeps rising. If you smoke a pack per day it can cost over $200/month

10. Put Something Into Your Savings Every Month, Even If It is Only A Few Dollars!

  • Every cent you save adds up and over time these savings will pay off!

11. Don’t Get Discouraged When You Have A Hard Time Saving, This Is Extremely Common!

  • If you have a hard time putting money aside because you simply need all you bring in, fear not, the majority of Americans are in the same position. Save whatever you can manage!

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