When the economy fell from the skies in 2008, most people in the Western countries were shocked. Most of us did not know exactly how it happened – but we all knew that it was going to be bad. And for a while there, for a lot of people it truly was as bad as it gets.
As the economy started coming back to its feet again, we realized that the number 1 mistake to make when it comes to personal finances is not saving money. Believe it or not, having some money for the rainy days can go a long way when it comes to keeping you out of debt – and it can definitely allow you to live better and less stressed out too.
How to save money, though? We have gathered some useful “hacks” for you – so make sure to read on if you want to find out more.
It’s In the Small Things
Saving money is ultimately in the small things you do every day, every week and every month. Let’s take coffee for an example. Grabbing a “to-go” from the neighborhood’s coffee shop may not feel like spending a lot of money – but when added up 5 days a week, 4 weeks in every month, it can mean a lot of money. On the other hand, making your coffee at home and packing it for work means that you save a lot of money and get the same pleasure in having a hot cup of coffee every morning.
Here’s another example. from your regular store may be more expensive than buying them online from discount shops (such as , http://www.cartridgediscount.co.uk/ for example). Simply looking into the option will make you see how much money you can save in a month and, even more than that, in a year.
In the end, it all comes down to a simple equation. Going out, going to the movies, inviting people over dinner instead of lunch or brunch – all these things can add up and make your piggy bank “slimmer” with each day that goes by. Replacing all these things with cheaper (and yet still very enjoyable) alternatives will make your piggy bank grow “fatter” – and that’s exactly how a piggy bank should be!
Create a Budget
The first and foremost important thing to do when trying to spend money is to create a budget. Sit down and think of your expenses. Think of the things you genuinely need and of the things you could skip every month. Think of how much you can afford spending on everything. Think of why you are spending so much know and how you could narrow it down. Most of the “hacks” come from each person’s spending habits – so you will definitely find a lot of answers if you simply sit down, take your time and think of how you spend your money and of how you actually want to spend them.
$1 off for one grocery store item does not sound like a fortune. And when you look at it this way, it isn’t. But when you couple your coupons with the store’s sales and deals, you can end up saving quite a lot of money. Let’s take, for example, cheese. If your usual pack of cheese costs $4 and the store has a sale of 2-for-1, you can use your $1 coupon to get two packs of cheese for $3 (which means that you actually get one for $1.5, with $2.5 less than “normally”). When you do this with multiple items, you can save considerable sums of money every month!