5 Simple Ways to Save Money

Construction of a financial future, whether it's your family's future needs or your retirement, and getting the things you want all start from savings. Saving is the most important move to make sure you're financially safe when it counts.

Saving means putting away your money for a rainy day and pretending you never saw it. It doesn't mean getting discounts on your purchases.

Follow these 5 simple ways and you might be surprised at how fast your money grows:

•    Set Saving Goal

By visualizing what you are saving for is the best way to save money. If you want motivation, create saving targets along with a timeline to make it easier to save. Want to buy a car in three years with a 30 percent down payment? Now you have a target to save each month to achieve your goal.

•   Pay Yourself First

Set up an auto-debit from your checking account to your saving account each payday. Whether it's 10$ every two weeks or 1000$, don’t cheat yourself out of a healthy long-term saving plan.

• Try Lowering Your Energy Bill

Switch off lights and appliances when they are not needed. Buy energy-efficient light bulbs. Put on a sweater instead of turning on the heat or use a fan instead of air conditioning.

 

•    Keep Track of Your Spending

Tracking enables you to identify bad habits and make arrangements to improve your savings. Some people track their expenses using a budgeting app, while others choose to use a hand-written expenses tracker.

 

•     Put a Spending Limit on Your Card

Create a limit to how much you can spend on your debit or credit card. It will help you to stop overspending and encourage you to reassess your regular expenses in advance. All banks offer this service.

 

 

 

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