Having troubles with consistent saving habit? Will you like to save money everyday but no matter what you do, it doesn’t seem to work out?
Here are 5 simple tips to help you.
Evaluate how and what you spend on daily: Doing this will help you weigh your spending habit. There are negotiables and non-negotiables when spending money e. What are the non-negotiable that you cannot do without and what are the ones you can do without.
Cut down your spending: For instance do you spend based on needs or on wants? Do you buy stuff based on trends or because you need them? Do you go on vacations that you obviously cannot conveniently afford? Don’t be that girl that spent 80% of her salary on a vacation only to be broke before the month ran out.
Create a budget : If you are a salary earner, what is your monthly income, if not, what are your money deposits in a monthly duration? and what are your monthly expenses? Apart from your daily non negotiables, do you have any project you want to run in the duration of that month? If you do, add What is the budgeted amount you will like to save?
Track your spending : To save money everyday you have to set out a time weekly where you compare your spending with your budget to ensure that you are on track.
A cash only Policy : look at your budget and see what you can move to cash only payments. For instance, your daily non negotiables like food, transportation allowance etc. This helps you avoid impulse spending or spending more than you budgeted for because, if there is no money, then you cannot spend on impulse.
Use money saving apps : Use apps that help you save automatically and keep the savings account locked so you cannot get access to the money until at an allocated time.
So there you have it! Basic tips that will help you on your journey to save money everyday
