How to Save Money – Tricks and Tips for Beginners
It is said that no matter how much money you have, they will not be enough. College students, new parents, and students usually need more money fast and it is hard to save up some cash when you have so many things to take care of. Some people decide to get a loan, but that is not practical at all, especially when you are not sure if you are going to be able to pay it off. That is why you need to know a few tricks on how to save up some money.
Every beginning is difficult, but you should know that it won’t be this hard forever. Plus, if you learn how to save up some cash when you are young, you will have those skills forever. Even if you don’t need the money now, if you start saving when you can, you will thank yourself in times when it’s hard to make ends meet.
To help you start and to help you learn some new tricks, we decided to make this guide. It is something we’ve tried and it does work. Remember that you will need some time to get adjusted to these tips, but if you are persistent and if you want to make life easier for you, you will need these tricks. Give yourself some time and start slowly. Saving money does not mean giving up everything that you’ve ever wanted. It just means that it is better to focus on the big stuff than to spend everything you’ve got on the things you don’t really need.
Cut your spending
Let’s start with the most obvious one. Did you know you are paying for things you don’t even know you’re paying for? When we subscribe to new things, applications and streaming services, we just put our card number in and that thing gets renewed every month. On one side, it is good you don’t have to allow things over and over when you need them, but there are so many subscriptions that take money off of our bank account without us realizing.
So, sit down, open your detailed card information and check what you are paying for. You definitely don’t need a subscription to 4 different streaming services plus a TV plan. Unsubscribe from the things you don’t need, like the sleeping application you used once and you still pay for it. It may seem like you are only spending a few extra dollars here and there, but when you put it all together, you will realize that you can save more than 100 dollars just by unsubscribing.
Plan your budget
This is the most important thing. You have money coming in from your and your partner’s job, maybe from some side projects, and if you have a newborn, possibly some cash that family gives to you for the baby. Put all of that on a list or in an app. ZenFlowChart suggests using a flowchart that is simple and easy to use, so you can track your budget.
After you add all the money coming in, you need to write down all the things that take those dollars away. Start by adding the bills, then the groceries, everything that is needed on a weekly basis and you will see how much you have to save or to spend on important things. That way you can also track your bills and be smarter about the power or the water bill.
When you plan your budget, you can make smarter decisions and you can be more aware of the things you spend on. Write down everything, even that piece of gum you bought. In a month or two you will become more disciplined and you will learn how to avoid unnecessary costs.
Set your goals
Why do you want to save money? Is it just to make your life easier or do you want to save up for a vacation, road trip, or put some cash in the newborn’s savings account?
When you are aware of what you need the money for, it is going to be easier for you to plan the budget and cut the spending. Do you have a specific number in mind and a deadline? If you do, it’s going to be even easier. Write down how much money you’d need and how much would you need to save per week or per month to make that happen.
The easiest way to do this is to start small. Find something that you need and do not cost too much. Try to make a plan to save enough to get it in a month. See what you would need to cut on so that you can achieve that goal. Once you get to your first goal and when you see it is actually not that hard, it is going to be easier for you to set bigger goals.
When setting your goals, decide which your priorities are. That way you are going to know what you can save on and where you will have to continue spending the same amount. Remember that you don’t have to stop doing all of the things that make you happy. You just need to make smarter decisions so that you can have a better future.
Do you have any tips for saving up money? What did you do when you were a college student? New parents have so many different things to focus on, so it is a lot better when money is not that big of a problem.
If you can’t keep track of everything you spend, then it is better to use an app or another program that will help you learn how much money goes on what. When you know how much you spend on bills and on things you really need, it will be easier for you to plan the rest of the budget out. If you have some cash left at the end of the month, don’t just go and spend it on things that will give you temporary happiness. Be smart, set your goal and make it happen!
