Looking for ways to save money on expenses? Here's some suggestions from a reader.
A good income is no indicator of financial well-being. Some people manage to live without denying themselves anything and even save money earning less than $1,000. Others think that $10,000 per month is not enough. The money disappears somewhere by the end of the first week because they spend it on all from restaurants to the best live casino offers. Money management is a science, and these rules will help you study it.
Fixed Expenses
First of all, sit down and count all your fixed costs - taxes, rent, credit, courses, transportation, lunches, and so on. Subtract this amount from your income, and you will receive a specific balance.
Register Your Expenses
Look for the answer to the question "where the money goes" in a notebook, where you diligently write down all of your expenses. At least the first 2-3 months, until you learn how to consciously spend money. In general, it is always useful to keep a written record of your income and expenditures. You can even make graphs of the dynamics for clarity and motivation.
Save in a Piggy Bank
Always put some part of the remainder into the piggy bank. This can be half or a quarter of the income. Naturally, the more you put away, the larger the "safety cushion" you will have in case of crisis.
Buy in Bulk
Some things, particularly groceries, are worth buying in bulk. Pasta, cereal, flour, olives, oil and other products can be bought at a good discount in bulk. Why buy more expensive items at retail?
Shopping Out of Season
Train yourself to buy clothes and shoes out of season. You can save up to 65% of the budget you spend each year buying these items. The habit of buying coats at the beginning of winter and swimsuits at the beach season is expensive for the wallet.
Practical Items
When buying a car, the cost of maintenance, repair costs, fuel consumption is of great importance. Even when buying small things like light bulbs, keep in mind the criterion of practicality - energy-efficient ones save money.
Entertainment
Entertainment, of course, is necessary, but you can always prefer a budget or free alternative. Some inexpensive activities that bring a lot of emotions are a picnic in the woods, a concert of street musicians, drinking mulled wine from a thermos in a winter park. Who said that having fun means going to clubs and restaurants? Stop going down the well-trodden path. Have a better and cheaper time.
There Is no Such Thing as Too Much Money
Part of your leisure time can be spent on part-time work. Extra income sources can be copywriting, tutoring, massage, or baking cakes. Think about what you can and love to do - and get paid for it.