Let's be honest: coming up with smart and easy ways to save money takes a bit more creative thinking.
Use some of these short-cuts to help you take care of your money. They will save you time and money for sure.
Use your mind to save money.
Can't always figure out how your money is spent? There is a simple solution: trick your mind into spending less and saving more.
If you want to try something new, give yourself a weekly budget. Put a certain amount of your allowance into an envelope and tell yourself that's all you can spend for the week. Next, split your allowance so you can pay for your bills. When you're down to your last $20, you put that into your emergency fund. When the money is gone, there won't be any more until next week.
Every time you get paid, put a certain amount into a secret fund that will only be used for emergencies. When it's time to make a decision, you'll know it's there.
Set up one dresser drawer where people can throw away single dollar bills. So, when the pizza guy comes, you'll already have the singles and won't have to break up the bigger bills. This habit makes you think about bigger numbers and save bigger amounts. You get used to spending only one dollar bills. This is good!
To keep your credit card debt under control, you should only carry one card and pay it off every month. If you are tempted to spend too much, you can put your credit card in the safe where you only keep money for emergencies. When you really need it, you can use a credit card that is always in good standing.
Write down your expenses in a notebook and add them up at the end of each week to see if you are over or under your budget estimates. Build in more than you need so that you always have a little extra money in case you need it for something unexpected. Keeping track of your spending isn't easy, but if you take good notes, you can always find one or two places where you're losing money. You can then save an extra $20 or more per week. That's real money worth $1,000 a year for an emergency fund.
Here are some more ways to save money: Have your paycheck go straight to your savings account instead of your checking account. You'll send money to pay your bills, but you'll think twice before taking out more cash.
You can ONLY get money out of an ATM once a week. Take the amount of your credit card purchases right away out of your bank account so you won't be surprised when the bill comes.
When you pay off a loan, add the amount to the payments you're already making to the next lender on your list. You can also put the money in a savings or investment account for a house, a vacation, or a new car. This way, if you have a money emergency, you will have access to this money.
