How To Save A Little Extra
Saving is something we should all be doing, and so many of us don’t! If you’re struggling to squirrel away a little bit of cash every month, let me give you a helping hand. If you follow these tips you can be sure that your nest egg will grow.
Draw Up a Budget
If you’re not sure where your money is going, now is the perfect time to draw up a budget. But, there is a catch. Make sure your budget is 100% honest and accurate. The best way to do this is to work out what you spend over 3 months, and then see where you are over extending yourself. Keep every receipt and take note of every cent spent, as you’d be amazed just how much gets frittered away on parking fees, coffees and snacks!
Set Out a Savings Plan
The only way you will ever save money is if you plan to. The best way to do this is to set aside a small amount to save every month when you get your salary. Then put it away, out of reach, so that you are not tempted to spend it. If you can, open a savings account with a higher interest rate, and see if you can reap extra interest from not taking a cent out over a set period of time.
Pretend You Earn Less
Possibly one of the smartest saving tips I was ever given was to pretend that what I earned was actually less than what it was. This way, I could save without feeling the pinch! If I budgeted on having a lower income, I’d spend less, and I certainly wouldn’t miss the money I never had in the first place.
Squirrel Away Any Extra Cash
Got a bonus at work? A cash birthday present, or won big when playing at a Canadian mobile casino? Save your money! This money can be considered a bonus and if you stash it away you can earn interest on it too. As it was an unexpected sum you also won’t miss it, so saving it makes sense.
Cut Back Where You Can
Do you splash out on things even when you don’t need them? Are always the person who orders the extra bottle of wine or fancy desert when out for dinner? Stop! It can hurt your pocket and you could be saving that money for a home, a holiday or any other reason. If you limit your spending just a little you’ll be amazed at how it adds up.
If you need new clothes try and buy them on sale, and when you grocery shop, see where you cut costs and buy in bulk to save. These little things all add up, and can make a huge difference. Often, shops push up prices after pay day, so we suggest shopping just before to take advantage of those pre-pay day specials that seem to be so prevalent.
Do these few things and you should soon see a difference in your savings!