This video is going to give you a step by step map on how to save more money this year coming and beyond. There are a few different ways to go about it. I’m just going to give my ideas on saving more money you take it or leave it.
The first step to saving more money is tracking your spending for at least 60 days. You can use an app for this. Go into whatever banking app you have and see if they have a way to track your spending. I’m pretty sure they do. If so every month print out your bank statement and look for all the places where you spend frivolously and different holes in your spending habits.
Once you start to see where you’re spending the most money and if those places are adjustable then you should pull back on that spending. Let’s say you always seem to spend on lunch every day. How about you try to cut back to eating out for lunch for 3 days.a week instead of 5. Then maybe cut back to two days per week of eating out for lunch. Then take that money and put it in your savings account.
Try to start with the easiest things to cut back on consistently and move on to hard cut backs if you deem that necessary.
Another good way to save for certain goals is you create bucket accounts. Basically open different savings accounts for specific goals. Like if you have a goal to buy a house create a separate savings account you can automatically put money in on a check by check basis. You can do this with vacations, new cars, Christmas gifts and etc etc etc.
It’s not hard to save more money you just have to feel that its necessary to do so and do it. Now with that being said sometimes when you want to save money there is just not enough to go around. I have a simple way you can make some extra money in your spare time to beef up your income and create some savings.
Then take that savings and invest it. This side hustle costs nothing to start and it’s a reputable thing to do. You can watch the video below and learn more about this opportunity.
Thanks for subscribing and watching my videos. I appreciate all my subscribers. You guys are the real MVP.