In this day and age, no one has it easy. It’s an expensive world out there, and saving money seems to become more and more difficult the older we become. No matter how hard life can be, we could all use a little extra cash in our wallets.
Here are a few tips on saving money:
1. First thing's first, get a job!
Before I had a pretty steady flow of income, I don't know how I got by without having a job. Not only does having a job earn you a paycheck every week or two, it also teaches you to be responsible, independent and manage your time better. Have a job? Great! You're one step closer.
2. Set aside all your cash.
Whether its your babysitting money, a friend paying you back or money you received from grandparents or relatives, set it all aside and keep track of it. Hide an envelope in a secret place and keep a log of how much you set aside every time you add to it.
3. Download your bank's mobile app.
Personally, I watch my bank like a hawk, but that doesn't mean you have to! Check your bank account on your smart phone a few times a week, so you know exactly how much you have to spend. This also helps to avoid overdrafts and other fees.
4. Don’t spend your entire paycheck.
And not just all in one place! Always have money in your account in case of an emergency or if something comes up.
5. Transfer whatever you have left in your checking account into savings right before your next pay day.
A lot of banks make transferring money to different accounts really easy. You can do this on your smart phone app or your banks website. For example, if you have $30 remaining in your checking account right before you get paid, transfer that money to your savings at the end of the day and start fresh with your new paycheck for the following week. Over time, this will make a huge difference in your savings, and you can see your progress!
6. Create a budget.
Take the average weekly amount you get paid and divide that up into sections. Twenty-five dollars for groceries, $15 for gas, $20 for eating out or whatever it may be! Create a budget that is reasonable and one you can stick to.
7. Think about what you're spending your money on.
Do you really need that big pack of colored pens just to make your planner look cute? Do you really need that dress you're probably going to only wear once? Not really! Spend your money wisely and on things you truly need.
8. Pay your bills as early as you can.
If you have the money now to pay a bill, do you really think you're going to have that money later? Get paying bills out of the way to avoid late charges and other fees.
No amount of savings is too little. So, do what you can and start to save now. I guarantee, it will benefit you in the long run.
