Everyone is always looking to save money! Whether you are struggling financially and you need more money to live a little easier, or you have enough money to live, but you’re looking to save money for your future, or a vacation, or whatever it may be! No matter your position, here are six ways to save money!
1. First and most importantly, set up a budget plan.
To see where you can save money, you have to first see where you’re spending it. Write out each expense that you have, along with your income. My favorite way of seeing my budget is by creating a spreadsheet, then you can add to it and it will automatically calculate your totals for you! You can use Excel, and if you don’t have Microsoft and don’t want to pay for it you can use Open Office, it’s free and it works just as well.
2. See what you can completely eliminate.
In my opinion, the easiest expense to cut out for our family was cable. We never used it, because we always just watched Netflix or Hulu. And both of those total about $15.00 per month!
3. Pay for what you can in cash.
I prefer to pay for most of my variable expenses in cash, like date night/dining out, any allowances you give yourself to spend, and most importantly…GROCERIES! I had NO idea how much I spent in groceries each month, and it seemed if I was using a credit card that I wasn’t seeing exactly how much was being spent. So I give myself a set amount of cash every two weeks, and I don’t let myself go over, unless it’s an emergency of course. I have separate envelopes in my wallet for each category so I can make sure I’m staying organized.
4. Meal plan!
I cannot stress enough how important meal planning is when it comes to cutting down on your grocery bill. If you don’t have a plan, you end up buying random things that don’t get used, and eventually go bad. I know that meal planning takes a lot of time, but I suggest at least planning for dinners. I do a meal plan for a two week period, which is how often I go grocery shopping. Also, if you can cut down on how much meat your family is eating that will save you a lot of money. Meat is SO expensive! If you want to make some on the go meals, I suggest getting a set of reusable containers. Here’s a free printable of the meal planning sheet & grocery list that I’ve created and can’t live without!
5. Transfer your debt to save money on interest.
If you have a lot of credit card debt, I highly suggest looking into transferring it to a card that has either lower interest, or a card that has a long period of no interest. If a credit card isn’t an option, look into a debt consolidation loan. I attached a link here that shows a few different options of credit cards, and who they would benefit the most.
6. Create separate accounts.
This technique SAVED my family. By creating separate accounts to put your money into you can always make sure you have enough for bills, activities and emergencies. Here’s an example of the accounts I currently have:
-Car Insurance(my car insurance is paid every 6 months, so every month I put a sixth of it away in this account, and I just use this money when I need to pay it.)
-Bills on the Credit Card (I total what all the bills that charge to my credit card add up to, and I put that amount in this account so that I can transfer it to my card at the end of the month. This is the most effective way I’ve found to make sure that I’m not charging to my card more than I can afford to pay off each month).
What are some things you do to save money each month?
Don’t forget your FREE Meal Planning Sheet & Grocery List!!