How To Save Money : Your Hard Earned Cash

There is a lot of different advice out there on how to save money. Don’t eat out, Don’t buy cloths, Think twice, Yada Yada, Etc.  But there are a few foundational and time honored methods to saving money.  If your current plan isn’t working for you, maybe its time to go back to basics.  Have you forgotten the key principles of saving money?  Maybe your on a plan but your plan is off the blocks.  Its time to build back up from the bottom. Lets get cracking!

There’s An APP For That

Where Is My Money Going?

You cant save money if you don’t know where it’s going in the first place.  Budgeting is the very first step in how to save money.  Budgeting tends to be a  topic that is typically met with groans and exasperation.  With the complaint that it is time consuming, complicated and depressing, many people choose to rationalize that budgeting isn’t worth the time or headache.

How Can I Utilize Modern Technology?

Today’s technology offers many great and often free apps that make budgeting less painful by tracking your spending and categorizing your debits into easy to follow formats and graphs.  Keeping track of your spending can be a major eye-opener and should be the first logical step toward saving your hard earned cash.

Where Do I Start?

Take a moment and search the internet for “Budgeting Apps” and try some out for yourself.  While some secure and well-known budgeting apps require direct access to your bank account, there are others that allow you to manually enter your budget and allocate money into different segments using the envelope method.  With so many great apps, you may find it not only educational, but also entertaining to be the sleuth that finds how that money has been disappearing.

Electronic Piggy Bank

That pink ceramic piggy bank that your grandma got you was the old way of saving money.  It’s time to grow up!

How Can I Pay Myself?

If you can’t see it, you can’t spend it.  Financial advisors agree that it’s imperative that you pay yourself first.  Bleeping sock that money away with a direct deposit directly into a savings account, where you can “Set it and forget it”.  Setting aside a pre-determined savings amount from your overall budget from the very beginning means you don’t have to worry about remembering to set it aside. Setting it on autopilot helps to resist the urge to spend.  Using this method ensures that it’s done automatically, consistently, and that it will be ready for you in case of a bleeping emergency!

Should I Really Put My Money In A Sock?

No not a sock, but a stock, 401k, or IRA are all great ideas. This very basic first step toward saving money.  Saving money in a savings account or investing your money will compound (Compound Interest) itself every month.  So you’re getting paid to save your own money.  Creating a stable and reliable savings plan will continue to bring you closer and closer to financial security.

Buy A Pair Of Scissors

Groceries are obviously a given.  Everyone needs to eat, but you can still eat well while spending much less.  From couponing to rebates, manufacturers are just itching to save you money.

Theirs An App For This Too

With the advance of online couponing apps, saving money is so much simpler than it used to be.  Many times a store will be able to just scan the bar code off your phone.  While clipping or saving coupons might not seem like your idea of fun, a few hours spent a month can save you hundreds of dollars and who doesn’t find that a worthwhile way to spend your time?   Many stores will allow you to use both manufacturer coupons and in-store coupons or sales, so you double your saving power.

How Can Planning Ahead Help Me?

Planning ahead, buying in bulk and shopping the sales will also help you pay less on household goods and groceries.  Commit to make a list and stick to it, and try to keep your shopping to just one or two trips a month.   By planning ways on how to save money in advance, sticking to a list and a budget, as well as eliminating additional trips to and from the store, you are on your way to saving money and building your savings account, day by day.

It’s Time To Calm Yourself

The payoff for saving money is huge.  You will enjoy less bleeping stress, more security and the general sense of being responsible by planning for the future.  By assessing your financial situation, setting achievable savings goals, and taking simple steps toward reaching them, you are setting yourself up for success and financial independence. This is how to save money for a promising future.