This article was inspired by The How to Save $5000 in a Year Chart over at TheMinisterofCapitalism.com, whose website includes stuff like: the ability to have a Robot read the article to you & a story on how someone saved $40,000 per year by slacking off. (To get the link to the printable chart mentioned below, please visit the link above.)
Don't let your money go to waste! It's time for you to take control and prioritize saving. Whether the goal is building out an emergency fund, buying a house or finally taking that vacation to unplug from all the stress you deal with, don't keep putting it off.
And don't be intimidated!
You can achieve incredible things - one small step at at time.
And that's where the printable guide (found in the link above) helps you.
It outlines exactly how much you need to save every week so that you'll have 5 grand stacked in your account at the end of the year.
And for the record - you don't have to wait for the new year to start before you get your savings plan underway.
Now, let's look at a few ways that you can save money.
Tips to Help You Start Saving
The first tip I have for you is for you to set up a separate savings account that is hard for you to access.
That way, you'll be less likely to dip into it when you run low on money.
Otherwise, your money is just a quick transfer away from getting spent ;)
While you're at it, set up an automatic savings plan. Have it take a small amount or percentage off each paycheck that you receive, and have it deposited into your new account.
This will help lower the pain of saving.
Go Over Your Budget
If you haven’t sat down and gone over your budget in a while, I encourage you to do that.
It is easy for us to get hung up on what we owe and forget about how much money has been spent already or where things should go next year when there isn't an immediate need!
A great way of moving through this process quickly (and accurately) by making categories such as "keep", "cut" or "lower".
That will help you move through and sort the majority of your expenses.
I know you are busy and your budget is probably one of the last things on your list, but don’t skip this step.
Cut out anything marked with an X (cut) that could be saved.
Look at ways to cut back or cancel services altogether. If these options aren't available either contact companies who offer lower rates for cable/satellite TV packages in order find a way around paying more than necessary!
Go Over Your Subscriptions
Depending on how you look at it, cutting cable is either a major life change or just another expense.
It's easy to get caught up in this world of streaming services and before long your budget could be tighter than ever with all these pesky subscriptions!
So make sure you go through your re-occurring subscriptions to find ways to eliminate or shrink them.
Brown Bag It for a While
A penny saved is a penny earned. If you buy lunch at work everyday at just $10 for the year, that’s over $2600 dollars spent on buying your daily meal!
That's why I recommend investing in some great containers and start bringing a lunch to work.
Get a Prepaid Cell Plan
It’s time to stop spending hundreds of dollars every month on cell service. If you haven't taken a look around in awhile (or at all), now is the perfect opportunity for some good deals!
We switched from our big name carrier just recently and it has saved us about $1,200 per year.
So it's worth your time to investigate what sort of options you have out there.
This is just a fraction of the many money saving ideas that are stuffed into the original article mentioned below.
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