8 Smart Tips on How to save Money ...

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How to Save Money is a question many people are asking. Everyone needs a holiday, a better house or a new car, but how do you achieve these goals? Want to know the best ways of save money? It’s no great secret, it’s mostly common sense. With a few simple ideas, you can easily start saving money. The tips here concentrate on how you can start saving, monitoring your spending and how to save money by cutting costs which will hopefully help you to maximize savings. Here are 8 smart tips on how to save money.

1. Start a New Savings Account

A great way to start saving money is to set aside a small sum of money from your income.

Decide on a small amount to begin with, an amount that you won’t miss.

Set up an entirely new savings account so that the money is separated from your other income and monthly outgoings.2

Set up a direct debit for the day that your salary hits your account.

Try this for several months and if you can afford it try increasing the amount by $10-15 dollars each week.

You’ll be surprised how quickly your money will start to stack up and how quickly you can save money.

2. Motivation

Stay motivated with your savings.

Log on regularly and watch your savings account build up.

If you are saving for a holiday or house, put a photo up on your wall so that you can visualize your goal.

Motivation is key when you want to learn how to save money the smart way.

3. Look for Alternatives

In order to save money you need to see where you are spending and where you can afford to make cut backs.

Start a spreadsheet of your monthly outgoings, note down all the monthly bills such as rent, insurance and phone bill, etc.

Over the month write down anything you additionally spend money on – nights out, a take away or meal out at a restaurant.

You’ll probably quickly see where all your money goes and how to save through the course of the month.

Start by cutting out something like that night out at a restaurant and instead choose a great recipe and cook that at home.

Rather than going for a night out every week, opt to stay home and invite a few friends over.

If you do decide to go out, have a few drinks at home first or better still find a bar that has a happy hour so you can take advantage of 2 for 1 drink offers.

Make Cutbacks
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