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7 Ways To Help You Save Money
One of the best ways to save money is to look at things you are buying on a regular basis and then identify and stop buying things you don’t really need!
If you aren’t paying attention to what you are buying, it is easy to spend money on unnecessary things. But if you need to save money, you need to stop buying the things you don necessarily need.
Some people think that saving money is too hard. But by cutting out unnecessary things you can save money each month. Sometimes lots of money.
You can put that extra money toward savings, a retirement account, or any other financial goal, depending on your saving priority.
If you are looking for things to stop buying to spend wisely, here are some things you can stop buying to save money each month.
1. Sale items you do not need
Just because an item is on sale doesn’t mean you should buy it now. You will not save money by buying things on sale if you don’t need them in the first place! These items tend to entice us to buy because it is easy to think that we are saving money, but it’s a tactic retailers use to get you to spend more money.
Do not buy an item on sale unless it’s in your budget.
2. Cable TV subscription
If you do not watch TV much, a simple way to save money each month is to stop paying for your cable TV subscription package. Cable TV is expensive. Don’t pay for your cable subscription if you aren’t watching much TV anyway.
By cutting the cord, you can save every month, depending on your package. That is a lot of money you can put back in your pocket!
So cut the cable and go for much cheaper on-demand streaming services like Netflix and live TV streaming services like YouTube TV is okay.
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3. New phones
Do you really need the latest model of your current cell phone? If the cell phone you already have has all the necessary features you need, don’t upgrade your phone when your cell phone plan comes up for renewal.
Don’t pay for an expensive phone plan if you don’t need it. Consider calling your current phone provider to negotiate a better rate on your current phone plan if you do not need all the extras you are paying for.
4. Prepackaged food
If you want to save money each month, you have to stop buying prepackaged food. This includes pre-made burgers,pre-made meals, pre-sliced fruits and vegetables, etc.
While buying prepackaged convenience food can be a huge time saver, you can save a lot of money and eat healthier and fresher food if you prepare it yourself by buying the necessary ingredients for a lesser price.
So make your own salad and meat pies to save money each month, while eating healthier and tastier food!
5. New shoes/dresses
One way that I have been able to save money is to no longer buy high heel shoes. This may seem like an oddly specific thing to mention, but there’s a reason.
High heel shoes often wear faster because of the heel taps. When you walk on rough or uneven surfaces, they begin to wear away. In most cases, you’d think it was time for a new pair of shoes. Instead, you only need to replace the heel tap.
This can save you a lot of money from throwing away perfectly good shoes. As a result of this tip, I’ve been able to preserve shoes for years. So no need to keep replacing shoes when you can repair them instead.
6. Reduce your expenses
If you want to save more money or start a savings practice but feel you can’t afford to, the place to start is reducing or even cutting any unnecessary expenses.
The first action to reducing your expenses is to track your expenses and break them out between discretionary and non-discretionary expenses. It doesn’t matter how hard you try reducing your expenses, there are certain items that will never go away completely. You must feed, you must have a place to live, you need to get to and from work, etc. Therefore, you should spend most of your energy on finding ways to reduce those expenses you have more control over.
7. Increase your income
Reducing expenses is a great way to kickstart savings, but there’s a limit to what you can cut down on. At a certain point, you may have scrimped in every area possible and still find you’re not able to meet your financial goals. If you’ve hit your frugality limit or just want more breathing room in your budget, increasing your income is key.
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