Isn’t great when you realize you have extra money in your monthly budget? Time for a vacation? Maybe you can finally pay off that Credit Card and be debt free!
We should always aspire to be debt free. That baggage is too heavy and you will feel like a new person once you can finally shed that extra weight. Once it is gone, you can SAVE more. Here is a guide that can help you figure out how to save money on expenses.
Let’s be real. We all know how to save money. The problem is actually doing it. Pull that trigger and just do it.
If you are the minority here and you really don’t know how to save your money then below you will find a list.
- You see that dollar bill in your pocket? stash it away in a cookie jar and name it “ Savings” or whatever you fancy.
- Got any loose change? check between the couch pillows. It is a haven for junk and coins.
- If you have the luxury of working full time- Take a look at your 401k and increase your contributions.
- Set up automatic transfers from your paycheck directly into a savings account. Once you get your paycheck you won’t even realize that money went into your savings. BINGO!
- Got a traditional IRA or a ROTH? why don’t you put more money into it?
- Student loans, credit cards or anything that has an interest rate, did you know you can call them up and ask them to lower your interest rate? yes you can! They might say no but keep calling until you get what you want.
- Track your budget and make sure you update it frequently. You might find some extra cash somewhere between the tabs.
- Money challenges are a big thing now. yes, trust me they are! Check these out.
But really…The only way you save money is:
1- Have an income
2-Put it away somewhere far, far away.
3- Don’t even look or touch it. Believe me, it won’t walk away.