Strategies to Save Money

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Need strategies to save money? Take it from me, we are all trying to save more money for a variety of different reasons. And, let’s be honest, saving = good.

Perhaps you are living paycheck to paycheck, many many people are you know. Are you missing the due dates on some of your bills? Maybe you are planning for your children's future, or to make a big purchase such as a car or a down payment for a house.

Whatever the reason is that you're saving, you need key strategies to help you to succeed no matter what the overall economic climate is like. That’s were I and my book Common Sense Debt Secrets come in. We’re here to help you.

Are you serious about learning strategies to save money?

First and foremost you are going to need to keep track of your expenses. Big surprise, I know. But, how can you save money when you don’t know where the money you have goes every month?

If you keep a detailed record of your money coming in and your money going out, you really will be able to spot some trends in your spending habits and THAT will give you ideas and strategies to save money. Do yourself a favor, save your receipts so you can tally everything up. And I mean everything! Then, create a budget with specific categories that will enable you to classify all of your expenses and spot trends or areas of concern.

Hey, it ALL adds up!

For instance, you may be really shocked to see how much your daily trip out for lunch really costs. Because don’t forget the gas and maintenance on your car as you drive to your local Foods-R-Us eatery. Don’t like the price of gas (who does), then stop going out for lunch. You will use way less gas.
Strategies to save money - Don't you love them?

Strategies to save money - Don't you love them?

We won’t even discuss at this point the value in brown-bagging versus eating out for lunch. I know a lot of people like to get out of the office, and lunch is as good a reason as any, but if you really want to save money, there must be another way available to you.

Cash is KING.

Another important tip for saving money is to spend cash. It sounds contrary, I know, to what many of us think. Some people think that carrying cash around will actually enable them to spend more money.

Believe it or not, the opposite is actually true. You see, the long and short of it is, when you use a credit or debit card, you lose the sensation of physically seeing your money disappear. This distorts how much you spend because spending seems painless, and credit certainly makes it easier to pay for something especially when you don't really need it.

That’s a bad thing. It's the power of psychology and it all boils down to re-aligning your perception of money.

If you buy everything in cash, you get to see how much money you are really burning through each and every day. This will help you control your spending more. And we’re not talking about walking around with hundreds of dollars either. That too is a recipe for financial disaster.

Instead, make multiple, small trips to the ATM every week. You'll keep a tight leash on your spending and you'll have a much better way of spotting where your money disappears every week. Plus you get a printout everytime from the ATM – that declining balance can be a very powerful motivator to reduce your spending.

Strategies To Save Money - Back To The Basics

This is a basic guide with a few beginner tips that will help you to save more money. My book Common Sense Debt Secrets and newsletter give you lots more areas to think about to save better.

Hey, it's easy to lose track of what you spend and to live a lifestyle beyond what we can afford. Been there, done that. The point here is that these tips and the ones in my book and newsletter are easy to apply and can help anybody regardless of their financial situation.

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