How to Save Money
On this page I am going to talk about ways to save money. We are going to begin with “How to Make a Monthly Budget” and go on from there. I have a budget made up in Exel that adds and subtracts already for you and is free for reading my page. I have a few tips on making purchases and some other ideas. This page is going to grow all the time. I am just getting started.
Invest, Invest, Invest
If you are ever planning on retirement and to have enough money to survive you need to invest. Every pay invest a certain amount. Put a dollar amount on it and invest first. Set up your budget that you have a percentage for investing, a percentage for savings, and what you need to live off of. If you are just starting out invest in low risk mutual funds or bonds. once you have what you need in there you can then invest in something a little more riskier but with a better rate of return.
Making a Monthly Budget
This is how to make a monthly budget in a few simple steps. Using the spreadsheet provided put each individual paycheck and include any other income. The columns auto sum and everything totals on its own.
Label all your bills in the column provided and enter the amount in the column next to the bill. Use a minus sign in front of the dollar amount of the bill and the spreadsheet will do the rest.
There is a yellow box in the top right hand corner under a label marked savings. This can be put into your savings account each month.
Make a budget for everything including food I will show you a trick for that later. The more detailed you can be, the more accurate your budget will be. The Spreadsheet is at the bottom of the page.
We all see that new pair of shoes or video game that just came out and want to but it. Never ever buy something the first time you see it. Walk away and go home. Sleep on it for a few days and see how you feel about it then. If it’s not on your mind in 2 weeks it would have been a wasteful purchase. This is something that has helped me a lot. Usually no matter what it is if you wait long enough it will go on sale. Make purchases at pawn shops. You can usually talk them down in price and get even a better deal.
How to Save at the Grocery Store
First off go to every grocery store in your area and get a membership card. Most grocery stores have them. The second thing I recommend is to get your local newspaper or shopper to collect coupons. Most of all DO NOT go to the store hungry!!!!!
Plan your meals out for each day. Take an inventory and make your list. What helps me is that I allow myself 1 item like ice cream or something. That takes my mind off of everything else so I stick to the list. By planning each meal out you buy what you need and not just a bunch of things to make meals.
You can also download apps that give you money back on purchases. You just take a picture of all your receipts and if there is anything on there the app gets you coupons or a discount on your next purchase. I know people who save a great deal of money using these.
Look for sales in the shoppers and when you sign up at the stores you get a savings card and emails on events. You can also download manufacturer’s coupons off of the internet. I am not saying be an extreme couponer but there is something to learn from them. Don’t be afraid to put a little effort into saving, you will be amazed at how much you can reduce that bill.
Invest in Alternative Power
If you can, invest in alternative energy for your home. Solar, wind, or water, whatever you have around you. In most states you can get tax breaks for installing alternative energy. You can also better insulate your home for more savings. There are non-profit groups that will come to your home and help you find energy savings.
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How Do You Save Money
What do you do to save money? Do you have any little tricks or routines that save? I would love to hear them. Please share in the comment area.
Here is the Budget Spreadsheet told you about.