10 Practical Ways to Start Saving Today!

Tips to help you Spend Less and Save More

The habit of spending comes naturally to everyone. But saving? Not so much.

For the average person, saving may require:

• A budget
• A plan
• Overtime at work
• Sacrifices

It simply would not happen naturally, so the only way to do it is to be intentional about it.

And while many people want to start saving, they just don’t know how.

So here are 10 Practical Ways to Get Started.

1

Pay attention to where your money is going.

Having a clear idea of your cash flow is the first step to saving effectively. You can keep track of this using a simple pocket-size book and a pen.

Using a simple two-column table, take note of every income and spending for the month.

Then ask yourself what expense was worth it and what was not.

This awareness will help you cut back on some spending in the coming months.

2

Use a Budgeting Ratio to divide and allocate your money effectively.

Budgeting Ratios helps you to decide what percentage of your income should go to:

• Expenses
• Investments
• Savings
• Giving

It makes it easy to save a fixed amount from each paycheck.

If you want to learn more about budgeting ratios, check out this article on the 97:1:1:1% Budgeting Ratio.

3

Save first, pay after.

Always deduct your savings from each paycheck before paying any expenses, buying gifts, or getting that new shoe.

If what remains is too little to cover your expenses, find ways to cut back on some spending or bring in a higher income.

4

Cut back your Food Budget by a few dollars.

After coming up with a food budget, you can try cutting back that budget by just a few dollars. I promise you wouldn’t even notice it. And it will help you to get creative with your meals each week.

Spending even $10 less on Food each week can mean an additional $40 deposited into your savings account monthly.

Once you get comfortable with the new amount, you can try cutting back a little more.

5

Shop your Shelves

Actively shopping your shelves can save you a lot of money.

Try dedicating one week each month to skipping the grocery store and just meal-planning/ cooking from whatever you have on hand.

Similarly, you can choose to shop your closet instead of buying a new outfit when an occasion comes up.

Saving one week’s grocery money can mean saving more than $100 per person in some households.

8

Only pay for the internet.

With so many Smart TVs around and the option to download tons of Free live TV Apps, who even needs cable?

If you do not have a smart TV, Android box and Firesticks are one-time payments and very affordable. Ditch the expensive cable bills and pay a low monthly bill for internet only.

Then enjoy Free Live Tv that comes with your Smart TV or is made available via Free Apps.

9

Hang your laundry Outdoor

One of my all-time favorite money-saving summer tips is to wash your laundry in the washer but hang it outside to dry.

If you do not have a lot of space, wash, and dry your clothes in small batches.

The average person washes four loads of laundry per week. That is sixteen drying sessions per month.

The sun will dry your laundry for free.

10

Turn off all heaters and air conditioners when not in use.

I get it.

You want your home to be cooled when you get home in the summer. And you prefer to come home to a warm, cozy house in the winter.

But if you want to start saving, the best thing to do is cut back on your expenses.

It takes only 10 to 15 minutes for a room to start cooling down when you turn on your AC. Would it be so bad to turn it on when you get home and wait 10 to 15 minutes for it to cool down?

Heaters take a longer time to work.

A money-saving trick in the winter is to purchase small space heaters and electrical timer controls for the rooms you frequently use.

Set the timers on a schedule to turn on an hour before you get home so that the room can be warm when you arrive and to turn on and off every hour overnight. You will be cutting the hours and therefore the cost in half.

You can even use heavy-duty Electrical Timer Controls for your ACs.

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