1. Keep A Budget

The first thing is creating a budget. Before you can dream about saving money, you need to know where the money is going. There’s no way around it. How are you able to decide where to find extra cash or make cuts to save if you do not know where all your money is going? You cannot. Hence, it’s time to create a budget.

The matter is, you do not have to make it a chore. There are still many successful people who get through the life without tracking every single penny in the pocket every day. You can also get by doing the same. However, you need to sit down and find out where the money is going.

How much is spent on housing, debt, utilities, groceries, and entertainment? After you have created a visible picture of where the money goes within a typical month, you can spot trends and problem areas. Once you have found the problem areas, you will come up with where you can cut back and by how much. After that, you can use that money to add to your savings.

2. Pay Yourself First

After you have identified where the money is going, you should have the spare amount of money to put aside into the savings or a retirement plan. That is a great start, yet there is another secret to save money: paying yourself first.

This method is so familiar since it works. If you are like most people, you probably pay the bills and buy the groceries before deciding how much you deposit into savings. However, the amount will be smaller, and you become worried you might need those dollars later in the week. Hence you avoid putting any money into the savings at all. Big mistake!

You need to consider your savings like any other bills. When the electric bill comes every month, what do you do? You ensure it gets paid. That is how you need to treat the savings account. If your objective is to save $100 a month, then consider it as a $100 bill which needs to be paid. If you think about this amount of money regarding a statement, you are more likely to make that deposit.

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Just thinking about the monthly savings as a bill is not enough, and that is where you need to have to pay yourself first. You should create an automatic savings plan which will automatically deposit money into the savings account before you have a chance to use it.

This can be done with a recurring transfer with the bank or through your employer’s direct deposit. And like magic, you do not even miss the money that goes into savings each week, but your saving account keeps growing over time.

3. Spend Less Than You Earn

This is crucial for personal finance. If you cannot utilize this secret, you will never have the ability to save money. You need to spend less money than you can earn and it is all about cash flows.

Let’s imagine; you spend $110 while you earn $100. Now, you are at -$10 and where does this extra ten dollars come from? Commonly, it is borrowed money, either from some loan or a credit card. And guess what? This borrowed money comes with interest.

The result is that you are more than ten dollars in the hole. When you do this on a regular basis and with a significant amount of money, it is easy to understand how someone can get the debt of tens of thousands of dollars, which is why many people feel as if they do not have any money to save.

When this debt mounts, you can find yourself just having the ability to make the minimum payments each month, yet that in turn means you will have to spend the next ten or twenty years on paying for something you could not afford, spending thousands on interest.

4. Replace Your Battery Instead Of Purchasing A New Phone Each Year

This is an easy way. If your iphone begins to feel sluggish, do not spend hundreds on upgrading to a new phone after one or two years of using. Just get a $29 replacement battery through the Apple store or the service providers that are authorized. Recently, Apple admitted to slowing down the performance of the phone since the battery ages of the device, and after customer outcry, it decreased the price of replacement batteries.

5. When You Eat At Restaurants, Stop Ordering Juice Or Soda

You can maximize your savings by avoiding buying nonalcoholic drinks while eating at restaurants.

Because drinks are often overpriced, more importantly, those extra dollars that are saved will add up. Additionally, water is right for your health.

6. Go Through The Inbox And Unsubscribe From The Emails Of Retailers

If you are an impulse shopper, you do not need an email that is to advertise a new sale in your inbox every day. Do not see shopping as an activity.

Gmail makes letting go easy. Most of the emails of retailers are grouped in the Promotions tab. To curb temptation, click on an email, and hit the “unsubscribe” link that is near the sender email address. You should also unfollow those brands on social media.

7. Remove “Mindless” Spending By Visual Reminders Of What You Are Saving

For example, you are budgeting for a vacation; you can print out a photo of the destination, and then put it in the wallet. So, every time you make a purchase, you have to consider the trade-off: saving for Europe or buying tacos right now.

8. Find Cheaper Housing

Costs regarding housing make up the most significant expense in many people’s budget. Because of this, finding a cheaper house can free up a considerable amount of your income. While it is not always easy to change the living situation, you will want to seriously re-examine the housing situation if you are having a hard time in balancing your budget.

If you are renting, you can try to negotiate with the landlord for a cheaper rent because most landlords do not want the risk which comes with looking for new tenants. Also, if you have a good relationship with your landlord, you are likely to get a better deal. If need to, you can exchange work (like maintaining the house or gardening) for cheaper rent.

If you’re paying a mortgage, talk to the lender about refinancing your loan. You can negotiate for a better deal in the case that you are in good standing. As refinancing, you should try to keep the schedule of repayment as short as possible.

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9. Reduce Your Energy Usage

Most of us accept the price on the utility bill every month without question. However, it is possible to significantly reduce your energy usage (and hence your monthly bill) just by a few simple steps. These ways are so comfortable that there is no reason to avoid them if you are looking to save money. Plus, decreasing the amount of energy you consume also reduces the amount of pollution you produce, minimizing your effect on the global environment.

When you are not in the room, turn off the lights. If you often forget to do this, try to leave a sticky note by the door.

Limit the use of A/C and heating when it is not essential. To stay warm, you can wear several layers of clothing or wear a blanket. To stay cool, use a small personal fan or open the windows.

Invest in good insulation. If you can pay for an important home improvement project, replacing old insulation in your walls by high-efficiency modern insulation can help you save money in the long run since it keeps your house’s cool and warm internal air from escaping.

Besides, invest in solar panels if you can. Although the up-front cost is quite high, solar technology will become cheaper with each passing year.

10. Use Cheaper Forms Of Transportation

Possessing, maintaining, and running a car can eat up your income’s significant portion. So, instead of driving, use a cheaper alternative option. This will not only save you money but also allow you to spend extra time exercising and reduce the stress from the daily commute.

Investigate public transportation options near you. Most big cities have subway or streetcar lines while medium-sized towns can have train or bus systems for you to use.

If you live close to your job, consider biking or walking to work. Both are the great ways to save money while simultaneously help you get fresh air and improve your health.

11. Don't Get Discouraged

When you are having trouble saving money, it is easy to lose the nerve. Your situation may appear hopeless because it may seem impossible to save up the amount of money you need to meet the long-term objectives. However, no matter how little you are starting with, it is always possible to start saving money.

If you are discouraged about the financial situation, talk to a financial counseling service that exists to help you start saving so that you can meet the financial goals and they are very cheap.

Above are 11 tips on how to save money. They are all very simple but effective. Hope that after reading this article, you can find your solutions to avoid the debts and increase your savings.

Written by Emily Pham.

This guest post is by Emily Pham, a blogger with many years of experience in searching the best natural home remedies for health and . All content provided is for informational and educational purposes. We recommend you consult a healthcare professional to determine which method is appropriate for you.