Saving money can be really hard if you don’t have the right information to get you started. You can easily start saving a lot of money in 30 days. That’s right you can have a decent amount of money saved in your bank account in just one month. Here are some step by step instructions on how to save money.
On the first day of the month you need to sit down with all your bills and expenses. Figure out how much you are spending in each type of category (food, clothing, gas, bills etc.). The best way to figure this out is to print out your bank statement. Then add everything up in each group. Add up the last two months to get an average of what you are spending.
Next you need to figure out where you can make cuts. Perhaps you realized when you went over your bank statement that your cup of coffee in the morning at your favorite coffee shop is costing you about twenty five dollars a week. By making your coffee at home you can take that money and place it into you savings account.
By day three you will want to set up with your bank automatic transfer from your checking to your savings. Every time you get paid deposit a certain amount of money into your savings. You will have enough to do this since you already figure out what things you can cut from your weekly spending.
In the next few weeks (weeks 1-2) you will want to look at all your bills and see if you can get lower rates. For example you may want to go online and get quotes for auto insurance to make sure you are paying the lowest amount possible. Then deposit the money that you saved by switching into your savings account.
By week two you should have all your bills lowered and your extra spending cut. However, in week three you can still trim the fat off your weekly expenses by learning how to coupon. Each week go online and check the coupon sites. These sites are free to use and only require you to have paper and a printer. This makes them much cheaper than just buying a paper every Sunday for the coupons. Figure out what items you already buy then look for any coupons that are available.
After you have figured out how to cut down on your grocery expenses you can also figure out how to cut down on other expenses such as gas. One way to do this is to shop at grocery stores that give you a discount on gas for spending money on groceries at their store. One of these grocery stores is Schnucks and it can really help get you inexpensive gas.
In the last and final week look again at your bank statement. Add up how much you have spent in each category. It should be significantly less than it was for the couple months before you started this process. You will be amazed at how much you have saved by just making simple changes in 30 days. Keep applying these tips to your everyday life and your savings account will continue to increase every single day.