If you want to build a secure financial future for you and your family, you need to start saving money from now.
Many people try and track their monthly expenses by keeping a spreadsheet.
This gives them an accurate record of where their money is being spent and how they can stick to a budget. If you want to track every penny that you are spending, and avoid impulse-buying, then keeping a record of your monthly outgoings would be a good start. Here are some more tips on how to be more frugal.
Eating out can be fun, but it will work out more expensive than cooking your meals at home.
Taking your family to a restaurant once a month rather than once a week would make financial sense, and soon you will realise just how much you can save this way.
Adopting a minimalist wardrobe is another tip to save money.
Take a look at your current wardrobe and decide whether you actually need to buy any more clothes.
Using the library instead of buying books and DVDs will save you even more.
Some libraries allow their members to borrow up to 6 books and DVDs for up to two weeks, so why buy when you can borrow. You can easily find free games to play on the internet instead of buying from your local store. There are also websites that allow you to download free movies so you won’t have to go to the cinema.
By practicing frugality, you will become more aware of how much you are paying for items, and you will know whether you are getting a good deal or not. Collecting coupons and going to car boot sales will certainly help you save money.
Putting money away in a savings account means you won’t be tempted to spend it all.
When you get paid, set aside the amount you need for food, bills, petrol and other essential expenses. What you are left with can be put in a savings account to earn interest. This way, not only your savings will grow, but you will also have something for a rainy day.
Bargain shopping is another great way to save money while buying the items you really need. This tactic will stop you from spending too much on non-essential things. Next time you go shopping, avoid designer boutiques and head straight down to flea markets.
If you don’t have the time or you are not keen on searching all the shops for sales, then opt for the convenience of the internet to buy what you need. The best thing about the Web is that you can browse through websites from the comfort of your own home, whenever you have the time.
You can also order your groceries online to save money.
Using a service like Milk and More will help you prevent making impulse buys as you will only be purchasing what you really need. The best thing about this website is that it has no minimum order and delivery is free of charge. All you have to do is sit back and wait for your groceries to arrive. Before placing an order online, make sure you prepare a shopping list of all the essential items you need so that way you don’t overspend.