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TIPS
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Tips 1 - Keep your receipts and write down everything
you spend. At the end of the month calculate how much money
you're spending on different things (groceries, eating out,
entertainment, clothes, gas etc.) This is a good way to make
you more aware of how you are spending your money. You might
realize that you're spending a lot more money in a particular
area than you thought because little expenditures are adding
up (spending a few bucks on coffee every day doesn't seem like
much until you see how the cost adds up over time).
Saving
Tips 2 - If you have trouble spending too much money
try paying for everything with either cash or a debit card.
Don't use credit cards. Using a credit card can often make you
oblivious to how much money you are actually spending because
the process is so automatic.
Saving
Tips 3 - Develop a monthly budget and follow it. It's easier
to manage your money if you set precise boundaries for yourself
instead of having a vague idea in the back of your head that
you need to be careful with you money.
Saving
Tips 4 - Try to have three months worth of living expenses
saved up in the bank at all times. If you happen to lose your
job or are unable to work for a period of time, this saved up
money will prevent you from falling into debt while you are
unemployed.
Saving
Tips 5 - Don't go shopping just for fun. Arrive at the store
with a list of things you actually need and only purchase those
items. Chances are, if you didn't realize you needed the item
until you saw it, you probably don't really need it. Learn to
tell the difference between needs and wants. Be careful of impulse
buying. Take time to think about whether you will actually need
or even use the item that suddenly looks so appealing.
Saving
Tips 6 - Eat out less. Easting out can more than triple
the amount of money you spend on food!
Saving
Tips 7 - Try buying things used. You can get a lot of great
stuff used, anything from cars to clothes.Shopping at a Salvation
Army or Goodwill store is a great way to buy second hand clothes.
Just dont forget to pass along the favor by donating clothing
you no longer wear.
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