How to Save Money Every Month - Planning and Budgeting Save You More
We all need money to live that's for sure. It is what we exchange to get the goods and services we need to survive. It's why we work all day. Money flows away from us in many different ways. But its supply usually comes from one source and is not guaranteed. This is why we need to understand how to save money every month so we can build up a store of money. This store maybe for rainy days, luxuries or retirement.
The starting point is to recognize that half of what we spend is unnecessary. You will probably have a good idea about where most of your money goes. What you will find is that you can drastically slash your expenditure without affecting your basic lifestyle.
Look at you purchases from a wants and needs perspective. The things you need will get you through the day in good health and not in hunger. The things you want are not totally necessary. These would include a brand new SUV. You may need a car as a necessity but a new SUV is a want.
Modern society has led us to believe we are in competition to spend more money. We are often persuaded to pay more than is necessary. You could spend $200 dollars in a fancy restaurant. But you could get the same quality food for $40 elsewhere. Are you getting 5 times the value for you $200 dollars? Do you feel 5 times as satisfied?
The same goes for clothes. You could buy a shirt for $20 or get the same shirt for $20 with a $50 label sewn on.
Whenever possible try before you buy. Often people buy things because of a perceived need only to leave them gathering dust after a period of initial interest. Borrow one or rent one and analyze whether it will truly be of use.
You can save a lot of money by cutting back on your everyday expenses. There are thousands of savings to be had with your food shopping. The most important thing here is planning. Without planning you will overspend your budget by 50% or so. There is just too much temptation out there for those who are unprepared.
The same goes for mortgages and insurance. Plan and look for the best deal. If you don't you will be simply sold the plan that gives the salesman the highest commission. Financial services salespeople are not interested in you returning for business. They know people usually only take out one mortgage in their life times.
The starting point is to recognize that half of what we spend is unnecessary. You will probably have a good idea about where most of your money goes. What you will find is that you can drastically slash your expenditure without affecting your basic lifestyle.
Look at you purchases from a wants and needs perspective. The things you need will get you through the day in good health and not in hunger. The things you want are not totally necessary. These would include a brand new SUV. You may need a car as a necessity but a new SUV is a want.
Modern society has led us to believe we are in competition to spend more money. We are often persuaded to pay more than is necessary. You could spend $200 dollars in a fancy restaurant. But you could get the same quality food for $40 elsewhere. Are you getting 5 times the value for you $200 dollars? Do you feel 5 times as satisfied?
The same goes for clothes. You could buy a shirt for $20 or get the same shirt for $20 with a $50 label sewn on.
Whenever possible try before you buy. Often people buy things because of a perceived need only to leave them gathering dust after a period of initial interest. Borrow one or rent one and analyze whether it will truly be of use.
You can save a lot of money by cutting back on your everyday expenses. There are thousands of savings to be had with your food shopping. The most important thing here is planning. Without planning you will overspend your budget by 50% or so. There is just too much temptation out there for those who are unprepared.
The same goes for mortgages and insurance. Plan and look for the best deal. If you don't you will be simply sold the plan that gives the salesman the highest commission. Financial services salespeople are not interested in you returning for business. They know people usually only take out one mortgage in their life times.
