Easy Ways to Save Money if You Are Experiencing a Financial Setback
Here’s a piece of advice: No matter the financial situation you may be in, know that you are completely able to turn it around with a little bit of effort. While your finances can be hard to figure out, with these easy money-saving tips and tricks, you’ll have a bank account you can be proud of in no time.
Buy in bulk
Of course, food is a necessary expense for any family, but it sure is expensive. One easy way to bypass expensive grocery bills is to buy in bulk once or twice a month. This is especially helpful for those pantry basics that you will use in basically every meal, like rice, beans, pasta, lentils, nuts, peanut butter, chicken broth, canned vegetables, chicken breast, and snacks. You can even sign up for a monthly coffee club that will deliver coffee regularly to you, so you don’t have to spend extra time or money every day visiting your neighborhood coffee shop.
Set Up an Automatic Savings System
Setting up an automatic savings system is the easiest way to put money away without even trying. Even if it’s just $5 a week, you won’t know it’s missing, no matter how financially dire things are. You can even do this with any debts you may owe through online payday loans. Doing so will ensure you have small savings account you can dip into when you need a bit of extra help during an emergency.
Make a Grocery Shopping Schedule
Speaking of groceries, it is always a good idea to create a monthly grocery shopping schedule. Set specific days you will be going to the store and don’t ever deter from your plan. This is because it’s all too easy to head to the store to pick up something on your way home from work and spend $50 dollars you can’t spare on impulse items.
Cancel All Unnecessary Services
You may be signed up for a bunch of subscription services every month, and you may not even know it. So take a hard look at your credit card statement and look at exactly what you are paying for every month and cancel them. We recommend only keeping a subscription if it can take the place of something else you are paying for, for example keeping Netflix streaming but canceling your cable bill.
Use the 24-Hour Rule
Impulse shopping is the bane of any budget. Try to bypass this by simply following the 24-hour rule, which states that the minute you want to buy something, wait 24 hours before you swipe your credit card. This way, you’ll give yourself time to really determine whether you need that item before you purchase.
If You Are Going to Treat Yourself, Make Sure to Save at the Same Time
You deserve to treat yourself periodically but only do so if you can while saving money. This can be a hard thing to determine, so try this trick — whatever you spend on the treat, put the exact same amount in savings. This means if you spend $6 dollars on a coffee and a pastry, immediately put another $6 into savings, costing you a total of $12 for the one treat. Doing this means you will cut down on frequent treats out, as you can only afford it if you can “spend” double its price.
When you follow these simple money-saving tricks, you’ll find yourself saving money without even trying. With a little bit of dedication, you will have your bank account back to where you want it — in no time!
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