How much can you save?
Whether you are an arts student, or a successful business man, you can always save money- after all, in this day and age, you cannot really be sure what things will be like tomorrow.
Although most of the following tips are common sense and actually essential, rarely do people commit in applying them. This is a rather sad realization, considering how much money are wasted due to incorrect management and lack of determination.
What gets in, what gets out
The basis of saving is monitoring your expenses. No, that does not mean writing down your bills and grocery shopping expenses. It means registering every single penny that gets out of your pocket and into someone else’s -even if that person is your son. A simple spreadsheet, or a software program can save you time and money in effectively managing your expenses.
Food
First, plan ahead a week’s menu, then buy in bulk and cook or freeze pre-made meals for you (and your family). Secondly, avoid eating out as much as possible, bring lunch to the office from home. And that morning coffee, did you ever calculated how much you spend in a month?
![Credit card](https://www.lifecrust.com/wp-content/uploads/2012/01/dreamstimefree_2416432-199x300.jpg)
Managing effectively credit cards and debts
Utility Bills
Lots of money can be saved- along with a few trees, if you go ‘eco’. Buy energy-efficient light bulbs, turn off and unplug appliances when not in use, lower the thermostat. You’ve heard about this too many times, but did you actually did any of these?
Making your home energy-efficient (sealing windows, filling leaks and holes, insulating sidewalls etc.) will save you a lot of money in the long run.
Credit Cards
Be as punctual as possible with your bills to avoid paying interests and late fees. Minimizing the number and use of credit cards is a must. Ask your bank for advise in having a more money-saving account and credit card contract.
Minimize temptation
Socialize more with budget-alike friends, avoid window shopping if you cannot really resist purchasing things. Stop visiting online shopping sites-even if they have deals or sales. And always, check and compare prices before spending substantial amounts of money.
Set (feasible) saving goals
Saving 15% of your income monthly is a goal bound to fail, set a realistic saving goal and make the best effort to keep it.
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