How to Save Cash on a Budget

Saving cash on a budget can seem nearly impossible. Fortunately, by making smart decisions each week, you can save cash, even if only in small increments. The cash will eventually add up and shopping smarter will begin to come naturally to you. Saving cash on a budget can be done by making a few small changes to your budget and shopping habits.

Instructions

1. Create a monthly budget, calculating your expenses for each week. Be sure to include the necessities like rent, utilities, bills, groceries, and gas. Add dates when bills are due to pay them on time while you still have the cash.

2. Subtract your weekly expenses from the amount that you are paid. Do this for the entire month. Take the amount left over and put 20% of it into a savings account.

3. Place the money left over into a separate savings account for next month's expenses. By doing this, there will be more money left over at the end of each month, so 20% will eventually add up.

4. Repeat these steps each month and create a new budget each month (if expenses or due dates change).

5. Place 10%-20% of any bonuses you receive into your savings account as well. Place the rest of it into the account for next month's expenses.

Tips & Warnings

• Don't shop daily for groceries. This substantially increases the amount you spend on groceries each week. Try a less expensive grocery store like Aldi or Save-a-Lot if you have one near you. You can also try wholesale stores like Sam's Club if you have a membership. If you have no money left at the end of the week, don't fret. Just try to spend less the next week by shopping sales or purchasing the cheapest gas.

• If you must take money out of your savings account, be sure to put it back when you earn the money back.

References

• Save Cash at the Grocery Store
• New, Easy Ways to Save Cash