How to Save More Money Easily

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By adecesare
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Got money?

By spending less money, you can reach your financial goals faster!

Difficulty: Easy

Instructions

Things You'll Need:

willpower

Step 1

First, make a list of everything you buy for a month. Look through the list and see which things seem unecessary at the end of the month. If that daily coffee from Starbucks seems a necessity, add up the amount you're spending on a full month of coffee (it could be $125!). This will really open your eyes.
Step 2

Major money-wasters include cigarettes, lottery tickets, coffee, and impulse buys (magazines or gum). Many people rationalize these items by saying "it's only a few dollars..." but these items add up quickly. If you can't give them up, try to cut back by half. You'll probably hardly notice after a couple of weeks.
Step 3

Consider opening a savings account where you commit to depositing a certain amount of money each week. If you contribute $100/week to a savings account and never touch it, you'll have $5,200 at the end of the year, plus the interest made on the account.
Step 4

If you are able to keep a credit card without debt accumulating, opt for a cash rewards card. This will add a few extra dollars to that bank account as well.
Step 5

Collect all change from items you purchase and once it adds up, add it to your savings account.

Comments

brianlewis said

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on 4/11/2009 Guilty as charged on a few of those things. Loosing your job and having your vehicle breakdown and being unable to afford to fix it, this will bring all of your tips quickly into focus. By just not being mobile has saved me a substantial amount of money since I have been on unemployment. Thanks.