Saving money takes some personal sacrifice on your part. Money doesn't grow on trees and nor does it automatically appear in your bank account (except for once every 365 days when you get your tax refund direct deposit!). For the rest of the year you have to figure out practical ways to reduce your monthly expenditures without selling your CD collection or donating your eggs. Here are a few ways to get your budget back on track:
Resist temptation Our commercial culture makes it extremely tempting to take your paycheck and spend it in one day on a gift to yourself. But is this really the smartest thing to do? It might be wise to consider whether you have debts to pay off. Do you have a credit card balance? Student loans? Car insurance? Health care? Cell phone charges? These costs add up to a significant amount of money that you likely owe each and every month. Reserve your paycheck for the real costs of living.
Do It yourself You may have heard the expression 'DIY' and thought it was some kind of advertising slogan. But 'do it yourself' has a lot more to do with empowering yourself to take agency in your own life. In the context of saving money, this means doing for yourself what you would normally pay for. Examples include cutting your own hair, washing your own car, gardening your own vegetables, changing your own oil, replacing your own air filters and making your own food. There are countless other examples. If you add up the bills of what these operations would normally cost you're looking at hundreds of dollars of savings just for being independent, which is its own benefit.
Don't eat dinner at restaurants This sort of falls in with DIY, as it involves making your own food. Dining out is one of the more expensive luxuries you can incorporate into your life. A typical dinner at a nice restaurant is going to cost near and about the same amount you might spend for an entire week's worth of groceries. That's one meal for the price of twenty one! Maybe you ought to stay in tonight.
It's difficult to save money. It's nearly impossible to save money without making some personal sacrifices. The tips listed above are a good start. Cut down on your expenses and luxury spending and use that money instead to pay down your debts and to invest in yourself and your future (and maybe some sweet Le Creuset!)
Resist temptation Our commercial culture makes it extremely tempting to take your paycheck and spend it in one day on a gift to yourself. But is this really the smartest thing to do? It might be wise to consider whether you have debts to pay off. Do you have a credit card balance? Student loans? Car insurance? Health care? Cell phone charges? These costs add up to a significant amount of money that you likely owe each and every month. Reserve your paycheck for the real costs of living.
Do It yourself You may have heard the expression 'DIY' and thought it was some kind of advertising slogan. But 'do it yourself' has a lot more to do with empowering yourself to take agency in your own life. In the context of saving money, this means doing for yourself what you would normally pay for. Examples include cutting your own hair, washing your own car, gardening your own vegetables, changing your own oil, replacing your own air filters and making your own food. There are countless other examples. If you add up the bills of what these operations would normally cost you're looking at hundreds of dollars of savings just for being independent, which is its own benefit.
Don't eat dinner at restaurants This sort of falls in with DIY, as it involves making your own food. Dining out is one of the more expensive luxuries you can incorporate into your life. A typical dinner at a nice restaurant is going to cost near and about the same amount you might spend for an entire week's worth of groceries. That's one meal for the price of twenty one! Maybe you ought to stay in tonight.
It's difficult to save money. It's nearly impossible to save money without making some personal sacrifices. The tips listed above are a good start. Cut down on your expenses and luxury spending and use that money instead to pay down your debts and to invest in yourself and your future (and maybe some sweet Le Creuset!)
1 comments:
I've been really trying to be a better steward of my money. I am asking myself, " Do I need it?" This questions has been stopping me in my tracks!! I have a lot of excess things in my life and each one takes time to take care of...it's a lot of wasted time taking care of unnecessary excess in your life. Love this tip and love your blog!!!
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