Step-By-Step Guide To Save Money + Tips | Free Printable
Want to Save Money? Read this article for the best tips, ideas, and bits of advice.
“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”
~ Robert Kiyosaki
So you are short on money? Or just want to start a new business and in order to do that, you need to save money? Do you want to pay off your loans? Maybe you simply want to stay under a budget to save a couple of hundred dollars.
You’ve come to the right place.
I’m totally not a professional in budgeting and saving. I’m just a stay-at-home mom with no job, whatsoever, who is trying and learning to save more for her daughter’s future. These are just the things that I’ve learned in my journey of saving some cash.
My husband is the only one who earns and he has to support his parents as well, so at times we are out of cash. So in order to still meet the needs of our family, I save a few hundred bucks for emergencies.
In the process of trying and failing to save, I’ve learned a few things which I’m going to share with you today.
So let’s get started!
1. MAKE A BUDGET:
I cannot emphasize enough on the importance of making a budget. You should do it regardless of whether you want to save or not.
Have a general idea of what you’re earning and what your expenses are. Prioritize your expenses.
- Write a list of your bills & due payments, including the house rent, internet payment, car payments, subscription fees, kids’ school fees and taxes.
- Make an overview for your groceries and general essential items you need to buy. Compose a list, look for offers and promotions and do not buy extra items.
- Have an estimated number of the money you want to save. Set realistic long and short-term goals and work your ass off to reach it.
- Track your extra expenses, like entertainment.
2. SAVE MORE THAN YOU SPEND
This is the general idea you need to keep in your mind. Save more money than you spend every month. The less money you spend, the more money goes to your saving.
“If you’re saving, you’re succeeding.”
~ Steve Burkholder
3. HAVE A SAVING ACCOUNT
If you set a particular amount on the side as saving, in your wallet, you are more likely to forget it and spend it. Instead, have a saving account and transfer the money you want to save in your saving account, the day you get paid.
You can also save automatically. Set up automatic savings because it is the easiest and most effective way to save, and it puts extra cash out of sight and out of mind.
4. TRACK YOUR EXPENSES
Once you start tracking your expenses you’ll come to know how much important it is to do that. TRACK EVERYTHING PENNY YOU SPEND! I’m not even kidding. Bought a coffee? Note it down, right there.
I didn’t have an idea about how much money we are spending on just Baskin Robbins until we started tracking our expenses. And trust me, it’s a lot more waste of money than you think.
At the end of the post, there is a FREE PRINTABLE EXPENSE TRACKER. You can download it, print it and put it in your journal and trace your expenses in the easiest way possible. You can also compare your monthly expenses.
5. SAVE MONEY ON YOUR GROCERIES
Grocery bills used to be more than half of our earning, honestly. We used to buy every single thing we could get the hand on. No doubt it was so much fun, but we wasted too much money on that.
Now our grocery bills are under control and the tricks that I use to save a couple of hundred dollars is mentioned in my post, you can check it out here.
6. EAT AT HOME MORE, DINE OUT LESS
It is pretty obvious but I still wanted to include it because despite knowing how much money we waste on dining outs and takeaways, we still do it.
One way that I use to track my dine outs and takeaways is using layouts in my Bullet Journal.
7. DON’T GO TO SHOPPING MALLS FOR ENTERTAINMENT
We usually go to the malls for no reason. Honestly. Getting bored? Okay, let’s go to blah blah mall. Why? Don’t go to malls for no reason.
Whenever I go to any shopping mall, I spend money, either on food or snacks or that cute purse or my baby’s outfit or my phone’s cover. You’ll spend money. So don’t go there.
Instead, go to beaches, parks, museums or visit a friend.
If you are bored, here are a few Fun and Budget-Friendly things to do.
8. DON’T SPEND MONEY ON EXTRA ITEMS
Those few ‘extra’ items take most of the money away. The items which are almost useless but you just cannot force yourself to not buy it. Right? I feel you.
But to save, you gotta force yourself, gurl. But at the end of the month, you’ll be proud of yourself for saving a lot more than you usually do.
9. DON’T SHOP ONLINE
Shopping online is something I absolutely love and I can spend all of the earnings there but no. I try hard and I don’t buy anything unless or until I wait for 30 days.
By this I mean, whenever I feel like purchasing an item. I put it in my cart but do not check out. I wait for 30 days and even after those 30 days if I still want to buy it, I’d do go ahead and order it. Otherwise, I’ll skip. It’s a little hard but it works.
10. BUY THE ITEMS YOU NEED, NOT THE ONES YOU WANT:
There is a huge difference in purchasing the items you ‘need’ and the ones you ‘want’.
Items you need are the ones you cannot really work without. Example, internet, basic food, necessities, phone bills, sanitary items etc.
Items you want are the ones you can work without but you really feel like buying. Example, that cute laptop case, that elegant pair of heels, random stuff at IKEA etc.
So try to buy the items you need but skip the ones you want. It’s so troublesome, I know. But remember, it’s worth it!
“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.
~ Brigham Young
11. EARN MORE THAN YOU SPEND:
If you cannot help yourself by spending less, then try earning more. If you are already working full-time, try for a part-time job or a side business.
Here are a few ways you can earn a good amount of money:
1. Home Tuition.
2. Online Surveys.
3. Run your online shop.
4. Baby Sitting or Pet Sitting.
5. Free Lancing.
6. Cooking Classes.
8. Coaching Classes.
10. Sell your Photos.
If you want a detailed post on how to earn money, let me know. I’m sure I can help you guys out.
REMEMBER that you can do it. It’s not rocket science. You can definitely save money if you want to. You just need to stay consistent and focused. Set goals and work towards them, every day.
Try to manage and then see what works for you and what doesn’t. It’s easy!
Thanks for sticking till the end of the post. I highly appreciate that. Here is your FREE EXPENSE TRACKER PRINTABLE! Enjoy!
I hope this article helped you and you found what you were looking for.
What are the tricks that you use to save money? Let me know in the comments, I’d love to learn more tips. xoxo
LET’S BE FRIENDS!