Some have a great strategy for distributing money monthly to buy food, pay bills, and the occasional night out. And those that consistently and consciously save money can make it to the end of the month with a little financial cushion for life's unexpected emergencies (like 2am Tedeschi runs...you know who you are).
Others have a great strategy for having a lot of month left over at the end of the money. Does this sound familiar? The first of the month comes along: you get all your bills paid, all your groceries taken care of, and after the first or second weekend, you're scrapping along with a few dollar bills until the next month or paycheck rolls around.
Saving money is actually much easier than it sounds. All it requires is a bit of willpower and self-discipline.
In order to stay on top of your finances, get a notebook, laptop, iPad, or your smartphone and make it a habit of tracking your daily expenses. This will help you physically see where your money is going, and therefore help you control the extraneous spending a bit better.
For example, maybe you start to see a pattern in your weekly spending habits. Too much takeout? Too much Starbucks? Every $4 or $5 purchase can really add up! However convenient it may be to buy food or coffee regularly, its still much more expensive than a home-cooked alternative.
Use your Money Journal to set visual goals for yourself. Perhaps its difficult to always cook or eat at home. That's completely understandable. Could you maybe find time on the weekend to prepare your meals and snacks for the week? And then be able to use your money for takeout and other things should an emergency arise?
When you plan ahead, you allow yourself the luxury and security of having resources when unexpected things come up.
What are some ways you keep track of your expenses? Do you own a savings account as well as a checking account? Why do you think saving money is important? Let us know in the comments!
No comments:
Post a Comment