7 Ways to Be Smart with Your Money ...

Being smart with your money is more than just opening a savings account. Money smarts include smaller things you wouldn’t think are important, but in the long run these tips can end up saving you hundreds of dollars! You need to know every way to be smart with your money in this day and age. With prices increasing, debts rising, and demanding needs, this article with 7 ways to be smart with money is just for you! Keep on reading to be in the know.

1. Don’t Go out as Much

You would probably be very surprised if you realized the amount of money you spend per week just by going out. A movie here, bowling there, coffee every now and then, or an occasional shopping spree can really add up. Remedy this problem by limiting yourself to going out once a week. The rest of the time, get creative with your friends and think of free entertainment options. This is one great way to be smart with your money!

2. Cut out Unnecessary Bills

Take a look at the bills you have. Are there any unnecessary bills you are paying? Do you really need the expensive phone plan you have, or a landline in addition to your cell phone? Cable and Netflix are awesome, but if you are never home to watch them, it’s pointless. And with so many places now offering free Wi-Fi, there’s another bill you can drop. This technique can really help you to be smart with your money.

3. Open a Savings Account

One of the best ways to be smart with your money is to open a savings account. Then, make it a priority to put a little money in it with each paycheck. You may only be able to afford to put $20 or less in there, but in time that small amount of money will add up. You never know when you will need emergency funds or when something may come up, so it’s always nice to have a little money put back.

4. Avoid Small Purchases

Avoiding small purchases on a whim is one way to be smart with your money. Do you really need a snack or drink every time you stop for gas? Do you have to buy a coffee every morning? Is the latest issue of Cosmo that important? Try cutting out small purchases like these and see where your account stands. It may be hard at first, but just be patient, and give some time for this new habit to kick in. You’ll find yourself saying no to bigger items after you kick the smaller ones!

5. Think before You Buy

One thing to really watch out for when you shop is telling yourself you HAVE to have it. Ask yourself these two questions: "Do I really need it?"

"Can I afford it right now?" If you can answer both of these questions with a yes, then go for it. Be proud of yourself, knowing you are being smart with your money!

6. Leave Credit Cards at Home

If you have a credit card, it’s a wise choice to leave it at home in a safe place. Only carry it when you know you will absolutely need it. Credit cards encourage splurging, so it’s better to limit yourself to cash and what you can afford. This makes a great way to be smart with your money!

7. Watch for Sales

Why pay full price for something when you can get it for a better rate? My final tip for being smart with your money is to always look for bargains. If you know there is something you are going to need soon, be on the lookout for sales, or a used, less expensive version. When grocery shopping, keep your eyes peeled for markdowns, and print out coupons online. And this same tip applies to shopping for clothing and accessories!

These ways to save money will add up and really help you save a buck! If you put these tips into practice, you won’t be disappointed. Being smart with your money is rewarding because when you stop buying unnecessary items, you have enough money left over to buy things you really want or need. Who knew that cutting out your morning coffee could pay for a new digital camera? Please comment below if you know any more awesome ways to be smart with money!

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