Five Tips That Will Save Your Over $500 Per Year

By: Admin / Textr Online

Your financial goals can see a serious setback if you’re nota pro at saving money. While the rule of thumb is to spend less and save more, the latter isn’t as easy as it sounds. Therefore, through these simple yet effective money-saving hacks, you may be able to take baby steps and define your financial goals better. 

Switch to Cash


We hate to break it to you that there’s no magical hack to improve your finances in a single go, but there are still ways you can start building that habit. Thanks to credit and debit cards, we often end up overspending on everyday stuff without even realizing it. Give yourself a spending limit for each day and stick to it but remember, it’s always better to under-spend than over-spend.

Just by making a simple change in your spending patterns and switching to cash, you may be able to keep track of your expenses better. However, the rule is not to touch a credit or debit card at all. Try going a week without it, then two and then a month, and voila, you’re halfway already there. 

Buy Second-Hand


While this option may not be feasible for everything, it can work out till you have enough to buy the brand new item. Buying used items, especially when it comes to non-essential stuff, is a fool-proof way of saving a good amount of cash every day. 

Plan All Your Meals Beforehand


As much as we hate to admit it, ordering takeouts now and then can dig a huge hole in your pocket. Meals at a restaurant cost a lot more than what you should be able to manage at home for at least a week.

One great way to deal with it is to prepare an entire week’s worth of meals in a single day. For instance, you can fill separate containers with veggies and pieces of chicken or mashed potatoes, etc., and designate meals for each day until the end of the week. 

Stay Away From Your Savings Account

In order to stay away from a savings account, you must have one in the first place. If you’re someone who struggles with impulsive buying habits, it’s time you open up a savings account. However, make sure not to have your checking and savings account in the same place and not to have it anywhere easily accessible to you. 


Have a No-Spend Day Every Week


Surprisingly, this method is both easy yet difficult to implement. However, having at least a single day every week where you don’t spend money at all is probably the best way to practice some self-restraint, unless it’s an emergency.

In the end, saving up a few bucks is as easy or as hard as you make it. Even starting with a saving pattern of $30 per month and taking it up to $50 will easily have you $500 saved up by the end of the year. With a little practice and some restraint today, you may be able to get your dream car or house a few years down the lane. 


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