You just scheduled a chimney repair with Brickworks Property Restoration. You certainly hadn’t planned on this expense, which will put a bit of a dent on your bank account for the month. Unfortunately, there are many unexpected events that come up in life, and this is where having more in your savings can help tremendously.
If you’re looking to be better about saving money, here are 6 simple methods to save more money each month.
Limit Eating Out
You’d be surprised with just how much money the average American spends on dining out, it’s estimated to be nearly $3,000 dollars a year, which averages to $250 dollars per month. If you’re wanting to save money, limiting your trips to restaurants is one of the easiest ways to start. Instead of dining out for lunch or dinner, cook meals for yourself to save a substantial amount of money in the long run.
Open a Savings Account
It comes as no surprise that opening a savings account can help you to save more money. If you keep all of your money in one checking account, it makes it much more likely that you’ll spend more than you planned on. Opening a savings account sets a clear distinction with what money you’re saving versus what money you’re using for spending. An added bonus is that many savings accounts offer you cash back!
Create a Personal Budget
Creating a personal budget is something you should work on at the start of your journey to save more money. After all, you want to see where you’ve been spending money and where you can limit your spending. An easy way to start your personal budget is to look at your spending history for the months preceding and see where you can cut back.
Reduce Utility Bills
There are some bills that we can’t avoid, like a car payment or a mortgage, but there are some bills that are easy to reduce. Utility bills are based on usage, which means you can easily be more mindful with your consumption. Try and pay close attention to turning off lights when you leave the room and maybe shortening your shower from time to time. You could also shop around for different utility services, like internet or cable, to see if you can get a better price.
Seek Out Deals
Any person who is good at savings will tell you that they always keep an eye out for deals. Before making purchases, do your research to see if you can’t find the product that you’re looking for elsewhere. Another great way to cut back and save more money is to use coupons or discounts.
Stay Away from Impulse Buys
There are many purchases we make that are completely impulsive. If you notice those racks of gum, snacks, and random tidbits at checkout lines, then you’re face to face with impulse buys. If you didn’t already have the product before you got to the checkout, then you are simply wanting to make a purchase because it’s right there in front of you. The same could be said for pop-ups or side ads when you’re shopping online.