Saving money can often be a challenge for many people all around the world. It may almost seem impossible to save money but there are actually many ways that you are able to do this. If you have a lump sum of money that you don´t want to touch or you want to save a part of your paycheck on a monthly basis, then take a look at these tips to saving money:
Get rid of your credit/debit card
Having a credit or debit card on many occasions causes you to actually spend more without realizing the risk. Because you are not actually handling the money itself it almost feels as if you aren´t spending as much and when the repayments hit you or when you check your statement the next week is the only time you realize how much you actually spent. Financial professionals such as Greg Lindae will no doubt agree with this money saving method.
Get yourself a piggy bank for change
A dollar here, a few cents there, everybody will at some point end up with a pocket full of loose change. Get yourself a piggy bank or if you want to save even more, make yourself one using a big old tin, emptying the contents and cutting a slot in the top in order to pop the money in. You will find in many supermarkets a machine which will allow you to pour all of the change in and count it almost instantaneously. For bigger families, you can also enforce a curse jar which if enforced correctly will no doubt save you money, as well as improving your vocabulary.
One of the biggest costs per month can often be eating out if you do it regularly. If you are going to work and eating out on your lunchbreak, then returning home and eating out or getting take-away food delivered to you, you will be spending an absolute fortune which is completely unnecessary. Going to the store for a big shop per week, buying the things you like to eat, even taking a few recipes and buying the ingredients off there is a sure-fire way to save yourself money. You can often find the best quality and cheapest foods at farmers markets, so if you ever have the chance, get yourself down to one and buy your meat and vegetables for the week.
Open a savings account
It is actually possible with some banks to set up a monthly payment to your own monthly savings account and block access to this savings account for a specified amount of time. Not only is this a great way to get your money saved up but they usually have a greater interest rate than the regular checking accounts, meaning that you can accumulate more money through interest.
Those are just some ways that you can save some money however there are thousands. One great way is every single time you´re wanting to spend on anything, think to yourself “is it worth it?” and be honest with your answer!