10 MONEY SAVING TIPS TO HELP YOU REACH YOUR GOALS

Everyone has financial goals he wants to reach. Maybe you want to retire early, pay yourself out of debts or just buy something expensive without taking a loan. Sounds familiar? We present some saving tips which can help you in reaching your goals.

How to Organize Your Budget For Saving?

At first, let's take a look at how should you organize your savings, your budget and make some of your savings automatic.

Decide What to Save For

Setting some short- and long-term goals can make it easier to save money for it. Decide what you need: money for vacation, a new car, money for early retirement?

Set a goal and think about a deadline. Then count how much money do you need.

Create a Budget and Make a Plan

Now, when you know what you save for, create a monthly budget. It should include your incomes and expenses. Write out every expense which repeats itself monthly: a rent, bills, expenditures on food, gasoline or animals. Check out how much money you have left. You should spend the rest of it wisely.

Try to create a monthly plan for a whole year – thanks to that you can place bigger expenses (for example, for a winter coat or shoes) in proper months.

Now, when you have your budget, it's time to create a savings plan. Try to save about 5-10% of your income every month. Remember, that it depends on your saving goal and a deadline you chose.

Set Financial Goals With a Budget App

Nowadays there are many apps that help us save money, create a budget or simply shop wisely. There are also apps which help us find some good deals or sales. These apps can help you save some money on every day basis. Install the ones that you find the most useful.

Pick the Right Bank and Don't Pay For Your Checking Account

You should keep your money in a bank that gives back, not takes away. There is no need to pay for your bank account. Look for an account without any fees, for example, monthly payments or ATM payments. Pay attention on an account which offer high interest rate on saving account in the package.

Make Some of Your Savings Automatic on Your Account

Many banks offer automated transfers between a checking and saving account. Choose when and how much money you want to transfer to your saving account and create automated transfer.

You can also split your incomes between checking and saving account – it will help you save money without really thinking about it.

How to Save Money Every Day?

Secondly, let's become familiar with some everyday saving skills.

Pay With Cash For Everything You Can

You have more control over your daily expenses if you pay for it with cash. Using cash makes you more aware of the money you left in a shop. What is more, you can spend only the amount of money you have in your wallet. You can plan your shopping first and take only needed amount of money with you. It will stop you from overspending.

Cut Your Utility Bills

There are many ways to cut your electricity, gas or water bills. Here are some examples:

• turn off devices that you don't use – but remember to pull the plug,
• set an optimal temperature in a fridge – if it's too low your fridge will consume more power,
• install energy-efficient bulbs,
• turn on a washing machine or a dishwasher only if they are full,
• check if your indoor plumbing is sealed,
• take a shower instead of taking a bath in a full bathtub,
• turn off the faucet while brushing your teeth or shaving,
• put your garbage in a dumpster instead of a toilet (even tissues!).

Wait Until the Price Drops

You need to buy something? Wait! If it's a novelty, its price will be high initially, but if you wait for some time, it will surely drop. In case of other things, you can also wait for a discount, related with an occasion or season. Be patient and you will spend less.

Prepare Your Meals by Yourself (and Make Yourself a Cup Of Coffee)

It relates to lunches, dinners and even sandwiches, which you bring with you to work. If you prepare it at home, by yourself, you'll save a lot of money. Making your own sandwich can help you save a couple dollars daily. And what about lunches or dinners in a restaurant? It's a lot more. You can also save money by not buying coffee in a coffee house, but by preparing it home.

Do Some Repairs by Yourself

Of course, you can't repair everything by yourself, but there are some small glitches, which you can surely handle. You can also ask your neighbor or friend for help. You can find some advice on the internet! It relates not only to your house, but also to your car. For example, you can save some money by changing the oil in your car by yourself. Services provided by professionals can be really expensive and not always necessary.

Now you know how to organize your budget, plan your spendings and make daily savings. Prepare a plan and save money for your goal!

Author: Olga Gierszal