Every year, the price level goes up. You can't stop living costs from going up because the prices of goods are always going up. Trying to save money becomes a very hard thing to do. Here are some ways to save a little so that you can still meet your needs and still find ways to save a little for the future.
- Make a budget and stick to it! Set aside at least a small amount to save, whether it's for your future, retirement, education, a vacation, or anything else. Go to the office supply store near you to get planning workbooks or budget sheets. Or, go to your favourite search engine and type "budget planning." This will bring up hundreds of sites with articles, free downloads, tips, ebooks, and other tools to help you set up and stick to your budget.
Plan ahead: Make sure you have a plan for emergencies and the unexpected, such as a broken appliance or a garage door that won't open. Even if you can only save about $50 a month, put it in a separate account and label it "Miscellaneous." Then, if something goes wrong, which it will because nothing is perfect, you'll be better prepared.
- Things you don't pay for every month: Set up a monthly payment for things you don't pay for every month in your regular monthly budget. For example, take the annual amounts for things like homeowner's or renter's insurance, quarterly water bills, car insurance payments, and annual trash bills and figure out what they would be each month. Then, write down each item on your budget log and put the money aside in a separate account for that item. So, when the bills come, you won't be surprised and have to scramble to pay them.
Use index cards and one savings account instead of keeping track of multiple savings accounts for each company owed. For each bill, make an index card. Then, just write down how much you're saving on the card and put it in your savings account. Keep the index cards with your passbook to help you remember what the balance is for. All of your index cards should add up to the same amount as the money in your savings account. (Make sure to make a card for your Miscellaneous fund in step two and an index card for your regular savings each month in step one.)
So, when you get paid the next time, take three big steps forward. Take out your index cards, stick to your budget, and put money into yourself and your future. Learn how to handle your money.
