Money To Save
If you came up with a negative number at the end of
your budget worksheet, or the positive number should be bigger to meet
your goals, there are two things you can do in order to have more money
at the end of the month.
You can find ways to raise
your income. Take on a part-time job or sell something
for a one-time cash infusion.
You can find ways to cut
your expenses. This probably sounds hard. It may even seem impossible.
But it’s probably easier, and certainly more rewarding in the long run,
than either method of raising your income. Almost everyone can save money
some way, somewhere. The trick is to compare your prioritized goals and
your current spending habits, and to decide what is really important
to you and what you’re willing to give up to get it.
- Start slowly. It’s easiest to cut expenses a little
at a time. Small victories will help you go on to save more.
- Remember the mystery money in your budget? If you
couldn’t figure out where it’s going, chances are good that it’s not
going anyplace important.
Start with those little expenses: the candy bars from the vending machine,
the daily coffee from the coffee shop, for example. Buy a box of candy
bars at the grocery store and carry one with you. Make coffee at home.
These little things add up. Instead of going to the movies every weekend,
rent a video. Pack a lunch instead of buying one every day. If that’s
too hard, pack a lunch every other day.
Every time you save a little money this way, put that money in a jar.
Watch your money grow and then put it in your savings account and let
it earn interest for you.
- Comparison-shop. Plan your purchases, then look for
the best price before you buy.
- Follow the hints for cutting
down on credit card spending.
- Whenever you get extra income – a birthday present,
a refund, a raise – put that money directly into your savings account.
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to What Everyone Should Have
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