If you are tired of being broke or struggling to make ends meet, it is time to re-think your approach. You do not have to be broke if you can change your mind and your spending habits. Chances are you will find you have more money at your disposal than you imagined. Of course, you will need to start thinking that you are a steward of wealth and not someone who hands over every last dollar to someone else.
Start with a Budget
No matter what your current situation is, the most important day to change your reality is today. You can start with these tips for saving money. The only way to get a grip on your financial affairs is by establishing a budget. If you have never done a budget before, online budgeting sites can be very helpful. You will need to get in the habit of journalizing your income and expenses to set up a baseline. With this in place, it can help you forecast upcoming payments and find spending habits that are putting you behind. Although it might seem tedious at first, when you keep a running record of where and how you are spending your money you can make changes. You might find that impulse spending is a great drain on your income. For instance, if you buy coffee before work 20 days a month and pay $2 each, there is $40 extra in your budget. Even if you do not want quit buying coffee, if you cut this to 10 days a month, there is $20 that can be put in a savings account. Be sure to document everything you spend money or swipe your debit card for. At the end of the first month, you will be able to check your spending habits and figure out ways that you can spend less and save more in the next 30 days.
If your monthly budget looks anything like most other peoples, chances are you spend a lot of money on groceries and other essentials. While it might take some extra time, use coupons and look for the best deals on food that you buy often. Most of the time, you need not look further than your mailbox for sales circulars of retailers and grocers in your area. You do not need to shop entirely based off of their sales items, but when you can save money at the store, it can be put aside in a savings account. Do not be afraid to try generic items over brand names. You will find that despite their generic or store-branding, they are high quality without the brand name pricing. In the summertime, you might consider shopping at local farmer’s markets. Not only does this support your local agricultural community, the food is much fresher and more cost-effective than buying from a big box grocery store. You will also get the chance to eat seasonally fresh fruits and vegetables that are good for the entire family.
With just a few changes to your habits, you can start saving the money that always seems to be missing from your wallet. Happy saving!