1 Timothy 6:10 – “For the love of money is the root of all evil”
How To Save Money: Use What You Got
Saving money could be easy when you use what you got. You will never be in control of your money if you don’t tell your money what to do.
Unnecessary expenses can eat away at your bank account. Take advantage of coupon and deal sites to keep more money in your wallet year-round.
Keep an eye out for any opportunities to get goods tax-free. Make a list of what you need at the store and stick to it.
Credit cards can put you on a hamster wheel where making minimum payments barely nibbles at the balance.
Use what you have, cash. Avoid using credit cards at all cost. This eliminates having a bill next month.
You need a plan to get the most out of your money and avoid costly errors.
Part of your financial planning process should include having an emergency fund.
Say you eat out for lunch five times a week and spend $15 on each meal. That’s $3,900 you spend a year.
By eating out for lunch just two times a week instead of five, you save $2,340.
Use what you got
If you just went grocery shopping, cook. Stop eating out at work.
Taking leftovers to work will save you thousands of dollars every year.
Understand what is a need? Food, housing, clothing and transportation.
You don’t have to buy a new car every year. Drive what you have.
The pair of jeans you bought in college, do they still fit? Do you have to spend $50 on a new pair of skinny jeans?
Lower your energy bill by unplugging any appliances you aren’t using at any given time.
If your grocery store bills are always high, you might be buying much more than you need.
Save some money by investing in a water filter. You only pay for replacement filters after your initial purchase.
There’s nothing wrong with going to the gym to workout. Gym memberships come at a cost.
Why not workout at home? This will cut the cost of a gym membership.
Instead of spending a lot of money on spa treatments or salon services, consider DIY solutions.
If you have a bank that offers free basic banking services, keep it. Ditching a free bank account for a fancy-high end account with fees is not a good idea.
Conclusion
Many people have trouble finding ways to grow their savings and fix their money leaks.
Paying for bank fees is one of the most common ways you may be throwing away money. There is no reason to pay for basic banking services.
There are SO many ways to earn cashback on your everyday purchases that it would be a shame to not take advantage of earning FREE money.
Make a plan to pay off your credit cards as quickly as possible. Paying interest on credit cards is throwing money away.
We tend to pay for things that are free. You can make your own coffee at home right?
If you’re making $50,000 per year, don’t spend like you’re making $70,000 per year.
Home renovations can be done without breaking the bank.
Hiring a licensed contractor can add up. Learning to DIY some of your home renovations will save you thousands of dollars.
Review your credit card bill often, there could be errors. We often pay for mistakes made by others when we don’t take a look ourselves.
Being disorganized can lead you to throwing away money.
Meal prep food for the week, create a financial plan and get organized.
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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