If you are just getting started saving money it may feel like an almost impossible task with the cost of living on the rise and income coming into the home on the decline, but it is possible to continue or start saving money. In many cases people assume they have to make more money in order to save, overlooking the fact that if they spend less money they will have more available to put into savings or invest in their future. If something on the following list doesn’t work for your situation that is OK, the point is to take the first step toward saving money; after you start the rest of the steps should fall in place.
1. Implement the thirty day rule.
When you find yourself thinking about making an unnecessary purchase, consider holding off on the purchase for thirty days before making the decision to follow through. Most people buy on impulse and by adopting a waiting period (even if it is less than thirty days) allows you to think about-or forget about why you wanted the item in the first place. If the waiting period expires and you still want to make the purchase, at least you know that you are not making an impulse buy.
2. Make a list and stick to it when shopping.
Have you ever made a trip to the store and said you “just need” a few things, only to leave with a cart full of items? While you might eventually need these things, this is a great way to waste money and products. I don’t know how many times I’ve “thought” I needed something from the grocery store only to discover I already have it (three times over) in the pantry. Know what you have on hand, have a strong idea of what you need and stick to that list. You will save time, money and space by not buying off the top of your head. […]
