We all want to save money, but often we assume that to really build up our savings we’ll need to make huge sacrifices to the way we live, and it can seem too hard.
However if you’ve got a big goal, and you want to travel overseas, buy a house, or start a family, you’re probably well aware that you’ll need to save some money if you want to feel financially secure.
Here are some ways you can save money this year:
Pay yourself
Usually we think about saving in the completely wrong way. We pay our bills, go out with our friends, and we figure that we’ll save whatever is left before we get paid again. The problem? Usually there’s nothing left and we end up spending all of our money and not saving any of it.
The trick is to pay your monthly bills and then immediately transfer a set amount into your savings account. That way you’re saving and you know that anything left is the money you can use to go out with your friends, order takeout, go shopping, or do whatever you like. Commit to saving 10% of your income each month and then slowly increase the amount you’re saving. The more you save, the more you’ll want to save as well.
Stay in
There’s a reason why so many people are staying in and hanging out with their friends and family, and it’s not just because the clubs are becoming overrated. Staying in and having friends over means that you can have fun, interesting conversations without needing to yell over the music, you’ll save money that you would spend on bar covers and expensive drinks, your waistline will thank you, and your savings will keep adding up.
Win online
Watching sport is fun, but it’s even more fun when you know your team is winning and that money will be going straight into your pocket. Sports betting is a great way to win money that you can then save, and you’ll also be saving money as you won’t need to go to a casino and instead you can bet online.
Take food to work
Eating out and getting a daily coffee can quickly add up. The answer? Go shopping in the weekend and buy enough food for some fresh, healthy, delicious lunches. Sure, it’ll take a couple of hours on Sunday to cook everything, but future you will thank you when you can quickly grab a healthy packed lunch out of the fridge and take it into work. You’ll save lots of money that can then go straight into your savings account, and you’re likely to find that you lose weight and feel far more energetic and healthy than you would if you grabbed fast food with everyone else from work, went to the office cafeteria or relied on an expensive coffee every day.
If you have a significant other, take turns packing lunch for each other and see who can be the most creative.
