Everyone could use a little more money in their pockets or better yet, in their savings accounts, but many people feel that they’re too pinched as it is to try putting more money away. Though it may seem hard to start saving, it doesn’t have to be if you start by making small changes. These 6 suggestions can help you to start saving today without stretching yourself too thin.
Cancel a Subscription
Many companies have shifted from one-time purchases to auto-renewing subscription services. If you’re not careful, you may even forget which of these sites you’ve joined, and while an $8.99 charge may seem like a small price to pay once a month, that fee quickly adds up when you multiply it over a year. To put a few dollars back in your pocket, take a look at your bank statement, and find any recurring subscription charges. Think about which of those services you actually use on a regular basis and which you could really live without. Next, pick one from the list, and cancel the subscription. That simple click can potentially save you hundreds of dollars over time.
Plan Meals Ahead of Time
Since eating at restaurants is generally expensive, try cutting down on your food expenses by spending more evenings in, cooking at home. Plan your meals at the start of each week, and write a grocery list of the ingredients. When you go to the store, stick to that list. You’ll find as you do this that you spend less money and time at the store. Of course, planning your meals doesn’t mean you can never eat out, but planning and budgeting for selective nights out will make those evenings more special while also saving you money overall.
Cut Your Cable
It may be hard to say goodbye, but cutting your cable service will save you lots of money over time. You may also find that you’re not even missing out on your favorite television programs. Online streaming sites and smart phone apps offer free streaming of many programs as well as paid access to their full range of shows for a much lower price than most cable companies.
Set up Automatic Transfers
The easiest way to make saving automatic is by setting up automatic transfers through your employer or bank. These transfers allow the bank to automatically divide your paycheck between your checking and savings account. You can set aside a certain dollar amount or a certain percentage of each check to move into savings without having to lift a finger. For those of you who don’t have a bank account, you can easily set one up through one of the banks in Milwaukee.
Walk, Bike, or Carpool
Even with lower gas prices, transportation expenses add up. Whether it’s getting to work, dropping kids off, or running errands, the price of gas, car insurance, and regular maintenance can take up a large portion of your budget. To help manage these costs, try a few alternative forms of transportation. That could mean taking the bus to the store or riding your bike to work. You may also consider setting up a carpool system with coworkers or neighbors to help all of you save.
You can find step-by-step instructions for everything from home remodeling projects to plumbing repairs through online sites and videos. As you start doing these projects yourself rather than hiring out the work, you may find that the work is both more rewarding and more affordable than you previously thought.
Cutting small costs can ultimately lead to big savings. The best way to save is by looking at your personal finances and evaluating which little changes you can make that will have the biggest impact. Once you’ve saved all of that extra money, you may want to treat yourself to special trip or even use one of the banks in Milwaukee to start an account and set your money aside for a rainy