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If you’re new to saving money and you don’t know where to begin then don’t worry, you have definitely come to the right place. Whether you’re saving for a special occasion or you want to prepare for your future, you need to ensure you’re saving as much money as you possibly can throughout your adult life. Luckily, there are lots of ways in which you can do exactly that. From setting yourself goals and targets to creating a handy budget spreadsheet, the more you’re doing to protect your finances the better. With that in mind, here are 10 super simple ways to save money for beginners:
Set Your Self Goals And Targets
One of the best ways to start saving money is to set yourself goals and targets, as it will help ensure you have the motivation to save when things get difficult. Whether you’re setting yourself the goal of saving £1,000 in a year or you want to save £100 a month, have a quantifiable goal in mind will make things much easier. Whilst you may not hit it each and every time, at least you will know you have tried your absolute best. For tips and tricks when it comes to setting yourself financial saving goals, you can visit this site here.
Create A Budget Spreadsheet
Another great way to save money if you’re a beginner is to create a budget spreadsheet. Although they can be tricky to set up, your budget spreadsheet will show you exactly how much money you have coming in and going out at any given time. It will detail all of the bills you have to pay, clearly showing you how much disposable income you should have each month. Once you know how much you have to spare, you can put a portion of it into savings. If you have the same going in and out each month, you’ll soon get into a habit of savings each and every month.
Use A Budgeting App
If you don’t want to create a budgeting spreadsheet, you can use a budgeting app instead. Although they’re not as visual as a spreadsheet, they’ll have you learn where you’re spending the most of your money. In some cases, they’ll even tell you where you need to cut down in order to reach your goals. Whether it’s reducing the number of subscriptions you have to buying less coffee when you’re out, the app will let you know when you’re spending more than you can afford. For great budgeting apps, you can visit this site here.
Set Up A Monthly Direct Debit
When it comes to transferring money into your savings account each and every month, it may be hard to stay motivated. If you have to physically transfer money each month, chances are you’re not going to do it, especially when you have a big event or occasion coming up. To help stop that, you may want to consider setting up a monthly direct debit that leaves your account on the day you get paid. Although you’ll notice at first, your savings will soon become one of those bills you have to pay.
Limit The Number Of Things You Buy Each Month
If you know you spend a lot and you’re always buying unnecessary things, you may want to consider limiting your spending budget for the month. Whether this means buying fewer clothes or going to the cinema fewer times, you may actually be surprised at how much you can save when you start to cut things down.
Cook All Your Meals At Home
Although it’s nice to go out for dinner or order take out every once in a while, cooking all of your meals at home can save you a lot of money. If you take the time to plan out what you’re going to be eating each day, chances are you’re going to be spending much less and wasting zero food at the end of the week. It will take some time to get used to, but meal planning can quickly become part of a great weekly routine. When planning your meals, you need to think about:
- The foods you and your family enjoy
- What ingredients can be used in various different meals
- How quickly things go out of date
- How easy the meals are to make and how much time you have
- Whether or not you’re going to be prepping in one go
For more tips and tricks when it comes to planning your weekly meals, you can visit this site here.
Related: The Best Advice To Avoid Feeling Financially Trapped
Sell Your Unwanted Belongings And Save Any Profits Made
If you have lots of unwanted belongings and you want to clear out your house, you may want to think about selling a number of the things you own. Whether that means setting up a stall at a local car boot sale or selling your things online, you can put the profits you make straight into your savings account.
Use Voucher Codes For Discounts
If you struggle when it comes to managing your finances, you might want to consider using vouchers and discount codes to save money on the things you buy each and every day. Although they can often be hard to find, sites like Net Voucher Codes can make it easier.
Consider A Savings Challenge
For those that struggle when it comes to finding the motivation to save, savings challenges are a great option. For those that don’t know, a savings challenge is a daily, weekly or monthly challenge where you save a certain amount each time. Whether it’s $1 a day or $25 a week, you’re encouraged to track how much you’re saving and by the end of the year, you’ll have a big pot of money to spend.
Other savings challenges include no-spend days, where you need to see how many days you can go without spending any money at all. It may sound easy, but it’s much harder than it looks.
Cancel Unnecessary Subscriptions
Finally, if you have any unnecessary subscriptions, you need to cancel them as soon as you possibly can. They all add up!
Are you looking for ways to start saving money? What small lifestyle changes can you make that will make a huge difference? Did we miss anything off the list? Let me know your thoughts and ideas in the comments section below.
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