Saving money is probably something you have been wanting to do for so long, but for so long you have been unable to do that. After reading this post I want to encourage you to go for it because it could be one of the best things you do for yourself this year.
Start by making a list of your spendings and also writing down the cost
Making a list will mean you know exactly where your money is going and that way you won’t be seating wondering where your money went. When making the start with the essential items. An example of essential items are things you can’t do without. So this could be, house rent, transport, food, and phone bills.
Review the list
Ok, so you’ve made the list but you probably included all the essential you need and some you don’t need but you think you do. Now is the time for you to review everything on your list and analyze them. If you can do without them, cross them out if not put a tick in front.
Make a realistic budget
Once you know what you need to spend on and how much each cost, you can make a budget specifying how much money you need to put aside for you spendings. Let say your monthly income is £800 and your total monthly spending comes to £500. £800 – £500 equals £300. With £300 left after you total spendings, you can decide to £250 every month and keep aside the remaining £50 for extra spendings or outings. Let say you were able to save £250 for six months that will give you a total of £1500 in your savings without having to try too hard.
Make lifestyle changes
Making lifestyle changes means changing your spending habits. Do this by cooking more and eating out less, because you can spend £10 in 1 day eating out or you can spend £10 cooking a meal that will last you 2 to 3 days.
Only buy what you need
Only buying what you need, trust me will make you save so much money. So you are at the supermarket and came across some lemons then you decide to buy because you felt a bit healthy at that time. then you get home and don’t end up using them till they go out. If you are also someone that buys new clothes for every part or event you go to, then that needs to stop. Before going out to buy new clothes go back to your closet and try out the clothes you have as you might end up changing your mind about buying new clothes.