Everyone wants a way to save more money. Whether you’re earning a six figure salary or you’re struggling on one small income, you want to know the tricks to cut your spending and save for the future. Here are some tips to help you save money on a daily basis.
Think About Your Credit Card
Different credit cards have different interest rates. They’re not even the same within the same company. There are different factors that affect the interest rate that you get, including your credit rating.
The trick is to find the right interest rate for your circumstances. Don’t jump for the highest because it is the easiest. Try and get the best deal possibly so you’re not wasting as much money on your purchases.
Transfer Money to Your Savings Account
Every day or week transfer some money into your savings accounts. It doesn’t have to be a lot, but it will build up over time.
Do this on top of your monthly savings amount if you can afford to. By saving a little each day or week, you won’t realize that you’re doing it and it’s less likely to affect your overall spending budget.
Stop Getting Promotions and Catalogues
You’ll be surprised at the amount you spend through these promotional items you get through the door. There’s always something that you want and you’ll end up spending more than you should.
By not getting them, you instantly reduce the chances. People don’t know you don’t want them though unless you tell them. Put a sign on your door asking for no solicitation and unsubscribe from those email alerts.
If It’s Too Good to Be True…
Really think about that offer to help you save thousands or invest a little to make money. If something sounds too good to be true, it usually is. You end up wasting money on scams and find yourself a victim of fraud.
It’s really easy to find yourself tempted when you see those great investment opportunities, but have some wits about you to avoid losing everything.
Switch Your Bought Lunch for a Packed Lunch
It sounds simple but you could save a fortune over the course of a year. Buying the ingredients to make your own lunch is always cheaper than buying the packets or getting something from the canteen.
You will get more out of the store ingredients, so you can make three, four, maybe 10 times the amount that you would have bought on your lunch of the same amount of money.
Keep Money In Envelopes
Using envelopes has been a big method of saving money for decades. You withdraw your money from the bank and then place the budget for your different areas of life in the different envelopes.
So you have one for rent, one for groceries and so on. A lot of today’s outgoings are electronic, so you will need to make sure that that money is back in your account, or find ways to make it work through the internet.