Who doesn’t want to save money? Whether you are someone trying to survive with a meagre income or one who is looking to make his future secure, ways of saving money would always be a welcome knowledge for you. So, here we introduce you to 10 wonderful tricks to save money. Remember, these are not fool-proof methods, so don’t depend only on them to save money. Try and take any opportunity that comes your way for saving and always beware of unnecessary expenses.
Activate automatic saving
The best way to ensure that you start saving money is to opt for automatic saving out of your monthly income. This can be done in many ways. You can get your employer to transfer a set amount or percentage of your earnings to a separate account or use a similar mechanism in your bank if it is available.
If neither your employer nor your bank is willing to do this, then you have to do this yourself. Create an extra account for savings and deposit a certain part of your salary into it every month. Do it as the first thing after you receive your salary otherwise you may keep procrastinating and eventually won’t start saving money at all.
This may sound reasonably straightforward way to start saving money but is often not resorted to. To keep tabs on your expenses and be aware of how much are you spending and where you are spending it will automatically help you to save money.
All you need to do is make a note in your mind of every major expense incurred. This when coupled with the knowledge of how much you have in the bank will alert if you go beyond your means. In this simple and subtle way, you would become a more cautious spender and be able to save money.
Set a saving goal
Everything becomes easier when the objective is clear. So, it is with savings also. Make sure that you don’t save money aimlessly but have a clear goal in mind. Maybe it is to take your savings to a particular level or to gather enough dough for buying something.
This would motivate you to start saving money even more zealously as you would be keen to reach your mark earlier and get the reward at the end.
Again, this is a seemingly obvious thing to start saving money but isn’t always done. You have to start cutting down on unnecessary expenses by economizing on various fronts. So, for instance, when you go to a restaurant, make sure you are not ordering more than you need. Always err on the side of too little than too much.
Set an upper limit on spending
Having a budget to save money is great but even more valuable is setting an upper limit on your spending. Again, this would require a strong will-power on your part to say no to any spending once you have hit the upper limit.
Make sure that this limit is reasonable and leaves ample scope for spending that is totally for fun. This ensures that you are not depriving yourself in an unfair way to start saving money.
Do not get attracted by offers
Marketing and advertising experts often use attractive sounding offers to lure more customers. To save money, don’t fall into the trap of these shiny offers. If you are being offered extra benefits for spending much more than you were intending to and for more than you need, then don’t even think about availing these ‘benefits.’ For instance, if you want to buy a regular-sized pizza and that is enough for you and the company offers an attractive discount on a larger size but one that would still get you to spend more than you intended, refrain from it.
Recycle, recycle and recycle
Keeping your house clean and removing unnecessary stuff is a good thing, but don’t just throw things away thoughtlessly. Try and find ways to recycle them and use them in place of new objects which you will have to spend money to buy.
A good example of this type of recycling to save money is jars and bottles. Rather than constantly buying new ones, clean the old ones and re-use them. Before buying anything new, check whether something already in the house can be used instead.
Value each drop
This may make you appear stingy but who cares when you are trying to save money! Never discard anything that has life left in it. Whether it is a battery or a bottle of chocolate syrup, make sure you have completely exhausted it. Again, you may seem a bit pedantic to people around you, but by developing a habit of this sort, you would start saving money very effectively. This is definitely one of the best tricks to save money!
Don’t spoil your children
Now, everyone wants to see their children happy. But acceding to their every demand is a dangerous idea as that will make them ask for more and more. Also, parents often try to use gifts and toys and substitutes for love and affection. Remember, kids are simple and want your love more than anything else. Try giving them love then lifeless toys.
Keep yourself mentally happy
Nothing is more important than mental happiness and it would also help you to start saving money. Those who are unhappy try to use smoking, drugs and alcohol (all expensive items) to gain relief and then become addicted to it.
Those who are mentally content would be happy with even the most basic facilities while unhappy ones would try and achieve happiness with material objects. Therefore, seek joy for your mind and it would be easy to save money.
These are just 10 of the hundreds of tricks to save money. Every person is in a unique situation and everyone has his or her own specific needs. Addressing them and acting according to them is essential. So, analyze your basic requirements and plan your budget accordingly.