Everybody wishes to save more money. Sometimes it’s harder than we expect. One of the things we must have to be successful at it is a good financial mindset. That keeps us on the right path. Other times, we need a trick ourselves into doing the right thing with our money. Here are a few tips you can implement to save more money.
Automate
I always advocate for automating your savings. That means having a set dollar amount going from your checking into your savings. You need to have a set amount, date, and regular intervals set that get transferred automatically each month. It can be as little as a dollar or as much as you want. A pro tip would be to set your transfer dates to payday. You can’t miss money you never saw in your bank account.
Work Investment Match
If your company offers investment accounts like a 401k or similar, take full advantage. These types of accounts usually come with a company match. At least invest up to the company match to get more bang for your buck. My company matches up to 5%. I take full advantage of their free money, and you should too.
Budget
If you’re loose with your spending, set a budget! A budget is your friend and not the enemy. It helps you take account of all of your earned income. Additionally, it can help you visualize where your money is going and how you can better disperse it into different spending categories. It’s also beneficial for spotting areas of spending that can be improved and curbs overspending problems.
Think Before You Buy
If you’re an impulse shopper, this one is for you. Instead of buying things you see on a whim, you were going to take your time. Sleep on those purchases for at least 24 hours. If you wake up and feel like you still need that item go ahead and get it. But if you wake up and it’s not on your mind or not that important, do not waste your money.
These are just a few tips to save more money. Which one do you think you will implement this year?
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