Everyone wants to save money. It may be for a vacation, a house renovation, or simply just to have a money stash for emergencies.
The first thing you need to do is understand your expenses. Find out what you’re spending. Sure, you may know what you spend each day, week, or month, but on paper, you have a clear vision of how much you are spending. In fact, you may be surprised at what you spend your money on often. Once you do this, you will be able to create a budget.
Sales, sales, sales. Before you pick up anything in the store, walk around and see what deals the store is offering. However, don’t be tempted to buy more. This is an opportunity to save money, not to purchase more than you normally would.
Love Your Cash
Take cash with you everywhere. It’s easy to spend a lot of money when you have your debit or credit card with you. Leaving the house with cash only limits the amount you’ll spend. Calculate how much you’ll need, take it out the bank or your wallet, and stick with it. This takes a lot of discipline but if you really want to save money, you’ll be able to do it.
You can save a lot of money by setting up automatic transfers with your bank. No longer do you need to keep reminding (and still forgetting) yourself to transfer money into your savings account. This is also a way to hold yourself accountable if you’re serious about saving money. Automatically transferring an amount of money also prevents you from overspending.
Spend What You’ve Already Earned
So many of us think about the next paycheck and assign that money to whatever expense we may have. This is similar to borrowing money on interest. Another reason why it’s important to create a budget. When you assign a “job” to each dollar you have, you will not have to depend on the next paycheck because you’ve already covered it in the budget.
You don’t have to be into fitness to participate in meal planning. Indeed, on social media we see fitness enthusiasts with their table packed with small meals in tupperware. Whatever your reason, meal planning is a great way to save money. When you plan your meals, you’re only spending an x amount of money for that week and you’re also using items you already have at home thus preventing you from spending more at the grocery store.
Be Your Own Handyman
Learn about plumbing, electricity, and any other utilities around the home so you can repair them yourself.You’ll save money on having to call in someone to fix whatever has broken down by doing it yourself. This is incredibly empowering. You can also teach your children some of these skills so that they can also fix things as necessary.
Build With Used Materials
On your homestead, you will always be busy building something. Using used materials instead of newly developed ones will work wonders for your wallet. You can find used materials anywhere online and in home improvement stores.