How to save money

[andyross]

Keep a record of your expenses. What you save falls between two activities and their difference: how much you make and how much you spend. Since you have more control over how much you spend, it's wise to take a critical look at your expenses. Write down everything you spend your money on for a couple weeks or a month. Be as detailed as possible, and try not to leave out small purchases. Assign each purchase or expenditure a category such as: Rent, Car insurance, Car payments, Phone Bill, Cable Bill, Utilities, Gas, Food, Entertainment, etc. Keep a small notebook with you at all times. Get in the habit of recording every expense and saving the receipts. Sit down once a week with your small notebook and receipts. Record your expenses in a larger notebook or a spreadsheet program. There are also many apps you can download to your phone that will help you keep track of your expenses.

[Leraldo]

As Robert Kiyosaki said first pay yourself last pay your bills. That really makes sense. Once you get salary it's easy to transfer a fixed amount to your saving account. If you try to do it in the end of the month just before the next payroll you risking to get smaller or 0 amount of money to send to the saving account. Another important rule is - once money went to your saving account you can't withdraw them except of emergency cases.

[fifocoralsea]

I will suggest you that if you have a little bit know how with Microsoft excel.you must create and excel file and add your daily expense and at the end of the month you must judge your expenses you will come to know which extra and unnecessary spending you did which should be reduced so your basic important expenses can face no problems.

[krantcents]

As a lifelong saver, it is just a matter of making saving a priority! I usually start with my saving goal and see if I can reduce my other expenses to achieve my goal. It helps, my only other debt is a small mortgage.

[jackmiller]

it is just a matter of making saving a priority!

Absolutely true! This is critical that you make it a priority and not just talk about it. Action and conviction are important and will result in your behavior changing.

[johnt78]

Save your loose change. Putting aside fifty cents a day over the course of a year will allow you to save nearly 40% of a $500 emergency fund. Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased. Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account. Never purchase expensive items on impulse. Think over each expensive purchase for at least 24 hours. Acting on this principle will mean you have far fewer regrets about impulse purchases, and far more money for emergency savings.

[marcuswong]

Good money management tips. However, it is also essential to spend money wisely. For example, it is not a wise decision to make a purchase, just because of sale offer. To save a big hand of your earnings, it is good to purchase a thing only when you really need it. Once you make a mind of buying such necessary thing, do not forget to research all the available resources, where you can get some discount like coupons, online sales, etc. On the other hand, if you are habitual of going outside twice a week, it will be wise to cut such an expensive habits from your lifestyle. You can cut this habit to once per week and have a happy savings in your hands..!

[LeanneRob]

keep track of your spending, its a big deal. Also, put leftover change in a jar it adds up and makes you think about how much you are actually spending

[SallyWilliams]

I have an application in my phone called Expense IQ. It's very helpful in managing my budget and expenses. It helps me keep track of how much I'm spending in a day, week and even in a month. I didn't realize I don't have control over my finances until I downloaded this application. It was very helpful.