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Saving Money So Your Wallet Isn’t Empty
Things turn worse when there is a need for an emergency fund, and a debt is taken to meet the urgency. This debt, along with interest, falls on their shoulders and continues for a long time.
This brings us to our goal. We aim to help you save enough money so that you can be at ease and keep aside some money for emergencies, every month!
But how is that possible? We have compiled some important tips to help you save money every month. Read on and try to implement these tips in your physical environment.
- Know your expenses: If you know your expenses, you can classify them into two groups; Important and not important. For example – Rent, electricity, food, taxes, and clothing can be classified as important items, while luxurious food items, alcohol, and night outs can be classified as not important items. Use a Utility Tracker To record your regular utilities to see how to budget for them. With your list, you need to classify what is important and what is not important.
Once you have done that, you can move to the next step. Be sure that your monthly income is diverted to the important items first. From the remaining amount, keep aside 20% for your savings. The balance amount, whatever it may be, is for your not important items. TIP: Just in case, you feel that the balance amount is not enough to fulfill your not important items, then keep it in a reserve box. Build on it and spend it whenever you like it. If you want, you can add it to your savings too.
- Cash v/s Credit Card: Many people have told you that cash is better than credit card and you should get your credit card canceled. However, we agree with the first part only! You should use cash whenever possible and avoid using credit card for regular transactions. This will prevent you from overspending.
Talking about the cancelation of the credit card, we do not support it. Your credit card should be kept by your side so that in case of an emergency, you don’t have to run here and there to get a loan to meet the urgencies. Credit card, if used wisely it can be your best friend. On the other side, use it lavishly and it will be a curse, with interests and other charges piling on your list of expenses.
- Home Meals: Let the happy meals and happy hours stay out of your mind for some time, at least. Home-prepared meals are better in every way. You can customize the taste as per your need, you can eat as much as you want, they lack fat (if you prepare it in a way to keep it fat-free), more nutritious and of course, they cost less. So, give priority to homemade food and you will save hundreds of dollars annually. Yes, eating out occasionally is acceptable but making it your habit, you will miss out on paying an important billed amount. TIP: if you are going out to dine with someone else, don’t be afraid to split a meal. This will help you save money, as well as calories. This is not something you should be disappointed with.
- Coupons! Coupons! Coupons! : Wherever you see a coupon, save it and use it whenever you need it. There are a number of sources from where you can get discount coupons like in your newspapers, mailers, local publications and even online. Coupon Organizer are great to bring with you to the store. Whenever you move out of your house to purchase something, spare a couple of minutes and check whether these coupons can help you save a handful of dollars. If you want an exciting coupons to be in your coupon list, add all these available Nordstrom coupon code. You can get an amazing discount while making purchases through the popular online store.
- Alternatives for entertainment: There are a number of entertainment alternatives that cost less than your current sources of entertainment. Before that, let us understand what is entertainment? In simple words, whatever entertains you is entertainment. It does not last for years and keeps you happy for a couple of hours, days or months. So, look out for entertainment alternatives. Here, we can only suggest you to look for entertainment alternatives, but cannot suggest you with some of them. Why? Because entertainment is limited, depending on your location. So, look out for alternatives around you. You might find some interesting options that cost less and keeps your entertainment quotient intact.
- Cell Phone: You need it. We are not saying that you need to throw off your cell phone too. Not at all! We are focusing on the ‘pay-as-you-go’ option. People opt for long-term contracts and are bound to spend a fixed amount on a monthly basis. Don’t do this mistake because in most of the cases, we do not make enough calls, send messages or use our data package to the fullest. This means that we are paying for something we are not using. So, opt for the ‘pay-as-you-go’ option.
- Say no to Designer clothes: Even normal clothes serve our purpose of keeping us covered. Designer clothes add to your reputation, but cost a lot. Try to prevent it. However, if you think that you can compromise on anything, but designer clothes, then here are some Nordstrom Use these coupons and buy your favorite designer wear at a discounted price.
- Make a budget for everything: If you know that there is a budget for everything, you will know which budget is going out of hand. So, you can keep a track of your expenses and accordingly, make suitable adjustments to save money on a monthly basis. A Bill Organizer can help keep track of everything.
So, with these simple, yet effective tips, we hope that you will be able to save enough money, to create a decent emergency fund.