Saving money never goes out of fashion. No one says no to extra money because most of the people
believes that money brings comfort. Money saving is an easy task if you stick to it. Just think of the time
when you have thousands and millions of dollars in your saving account and now you no longer have to
worry about the earnings. Just think that if that happens it will change the complete picture of your life
and you would be able to live a life full of comfort with no worry of earnings and job. You would be able
to help others in a good way if you have more money. But this all could happen when you will save for
that time. So here in this article I have written some simpler methods that will help you to save money
easily. So starting with the 1st method,
1-Track your Spending
The first step towards money saving is that you should track your spending. This could be a boring task
but the results can change the picture of your financial status as this helps you to carve down every
dollar you spend and by that you are able to find where you need to cut off. You can use a simple
spreadsheet for this purpose if you do not want to use the online tools. There are online tools like
personal Capital and betterment that helps you to track your spending and you can automate your
tracking process by linking your debit card with these websites.
One of the most important part of the money saving process is budget. This is completely a myth that
budget restricts your spending habit. In my opinion budget gives you freedom to spend. A budget gives
you a road map to spend in every category. You decide and put an amount for each expense and if you
are successful on living on the budget you are able to save according to the goals you have set. You can
make your budget with a simple paper and pen or you can use online tools and apps to make you an
One of the important step of moving saving is to set a financial goal because this financial goals helps
you carve a road map to save money. Earning and saving without any goals ends up with earning an
amount that only helps you to make a living. So having a goal is an important part of money saving. You
can have three types of goals termed as short term, medium term and long term financial goals ranging
from 1 to 10 years. Now these goals will let you know that how much you will have to save and you can
easily calculate the amount you need to put in each category every month.
4- Value Based Shopping
Another step in money saving is that you should think before you buy an item because that will help you
analyze that if you really need that item or not. If you check your expenses sheet you would get to know
what extra you are buying so before you buy an item think that if you really need it and how much it will
worth you and for how long you would have to work for it. This value based shopping will help you not
to buy any extra and useless item.
The biggest expense of most of the people is the house rent or mortgage payment. So what to do if you
want to save in this cost. A friend of mine who worked in the mortgage company told me that they
approve the mortgage cost that hold a higher percentage of a person’s income. To buy a new house the
first thing you need to do is that you need to be approved for mortgage. To save in this extent the thing
you can do is to not accept the rate which your mortgage provider gives you. Do not spend your full
income and set aside a little amount every month so that it could help you in tough months.
6-Plan for your Big Expenses
If you are a home owner then the one thing that can put you to a situation where you would look for
debt is your home repairs and in case of cars the cars repairs. These type of big expenses do not occur
frequently and are only once a six month or after three months. So in order to save yourself from debt
at that time you should plan for that expense. You should calculate the amount you need after some
months and then divide it to the number of months available and in every month put an amount of
money to the savings account. So if you do this for months then after months when the big expense
arrives you would be able to pay for that without getting into debt.
7- Save Energy Cost
One of the biggest cost in your budget could be of energy. So you should also look to save in this
category too. A little perks in your daily routine can help you to save a good amount of money every
year. For example in summers you should turn off the AC in the night when there is fresh air and you
should open your windows to get that air and for the winters when there is sunny day you should not
use a heater or a thermostat and try to use warmer clothes to avoid cold. By using an automatic
thermostat you can also save a very handsome amount of money.
8- Renting your House
To increase your portion of saving you can also look for ways that can earn you some good amount of
money. If you own a house or you have a spare rooms or beds you can rent them to the tourist for some
fast and extra cash. Many tourist from all over the world use AirBnb for finding cheaper places to live.
You will be payed according to the number of facilities you provide with the type of area you live in. A
friend of mine earns more than a thousand dollars every month only by renting rooms on AirBnb.
9- Transport Section
Now another important section of your budget is the transport. This section includes the amount you
spend on the transportation means and your cars fuel and maintenance. To save in this section the first
thing you can do is to live in a walkable community. A walkable community is the one in which all the
utility are within walking distance. For example bank, grocery store, library and a local doctor should be
on the walking distance. Another benefit that it will give you is that it will keep you medically fit too. The
second thing you can do is that you should try to live near your office so that you could easily walk to
the office or if you can access your office from the bus so instead of using your own car try to use the
bus because it will be more feasible to your budget.
Another important part of the budget section is grocery and food section. Most of the part of our
budget is spent on this section. So to save in this section I have some ideas for you. You should not go to
restaurants every day for lunch and dinners but instead of that you should pack your lunch to work and
instead of taking dinners from famous food chains you should cook your meal at home this could save
you a very handsome amount. If you have a garden in your home you can grow your own food in the
garden. This could benefit you in two methods, one is the money and second is that you would get
healthy food to eat for almost free. For the grocery shopping you can use several online apps that will
give you cash back and gift cards on scanning grocery receipts. If there is a sale in town try to buy in bulk
if the item can be preserved for a longer period of time. These simpler perks can make a very big change
in your budget and you could save a good amount. One thing you should keep in mind is that you should
not waste food because 30% to 40% of food in US is wasted according to a report.
Another important part of the budget section is health. You would have heard a famous quote that
“Prevention is better than cure” by simply following these lines you could easily make a good deal with
your budget section. Go to walk every day, do a little exercise every morning, do not junk and fast as
they are not good for your stomach. Such type of little perks can help you a lot to save and will keep you
fit and healthy.
So these were some of the simpler tricks that helps you save money easily. You should follow these
tricks to achieve your goal. Do comment in the comment section below and also share how you feel
after reading this article and now how motivated are you to save money.
Have a good day!