Everybody wants that bit of extra money every month. Whether it’s to treat yourself, go on holiday, or save up for the future, keeping some extra cash aside is very useful. Here we will discuss five different things you can do to try and end the month with a bit more money left over than usual.
Use a Spending App
This is a great way to keep track of your spending. There are so many different ones available for free. You just need to choose which layout you prefer. If you track every time you spend money, it will help to keep you accountable for your purchases and stop impulse buys. It also means that you can allocate yourself a budget to work from and decide how much you want to try to spend.
Most of these apps also give you the option to view a chart of how much you’ve spent in each area. This will provide you with more of an idea of where most of your money is going. If possible, you can then make an effort to spend less on that specific thing and hopefully save more the following month.
Make Sure You’re Filing Taxes Correctly
This is definitely something worth double-checking, specifically your tax returns. If you’re not keeping track of all the things that you can claim back on, you’re probably missing out on some extra cash. If you feel like you need some extra help, you may want to discuss your accounts with a professional. These tax audit Edmonton lawyers say you’ll need help with “Tax minimization to discuss the various strategies that can be used to reduce your taxes”.
Start Doing a Weekly Shop
Although food is a necessary expense, there are ways to spend a bit less on your grocery shop. Sit down at the beginning of the week and plan out meals. Make up a grocery list of everything that you need and go and buy it all together. This is a great way to reduce both waste and expenses.
If you aren’t buying food that you don’t need, then you’re not wasting money on food that will go bad and need to be thrown away. By creating a meal plan, you can organize meals that use up the ingredients. That way you don’t need to buy two lots of something. Getting all your groceries at one time from a budget supermarket also means you won’t need to stop off at a more expensive corner shop for snacks or ingredients.
Find Ways to Do Things For Less
There are lots of ways that you can save a bit by doing things for yourself. Something that people spend a lot ok without realizing is coffee. Buying coffee from a chain on your way to work is very expensive. This is something you can save a lot on if you’re organized.
Buy yourself a reusable coffee cup and make your coffee at home to take with you. If you’re partial to the fancier flavored ones, you can usually buy the syrups to take home and add in yourself.
If you’re someone who enjoys some retail therapy from time to time, you don’t need to change your habits completely. Instead of going to a shopping center and visiting branded stores, find some local second hand or vintage shops. Although these can range in quality, it won’t take you long to find a few with things that you like. Often you can get almost brand new, branded clothing for ridiculously low prices.
A way to reduce your spend across a variety of areas is to look at points systems or vouchers available for various places. A lot of stores from supermarkets to clothing laces will have loyalty cards so that you can build up your points when you spend. Some of these systems are a lot more rewarding than others, but if they have something at a store you frequent, it’s probably worth looking into.
You can find apps that give you offers or vouchers for various places. These are often at restaurants, so you can save some money when eating out. Try to find one that has offers at places you like, and then remember to check what’s on offer when you’re making plans to eat out.
Put Aside a Little Bit Each Week
Although all of these tips can help you to save a bit extra, the easiest way to save up is to consciously put aside a portion of your salary every week. Look at how much you can afford to take out and put it in a savings account.
This way, the money isn’t there for you to spend on an impulse buy or something you don’t really need. Any extra money you save can be used to treat yourself because you know that you’ve already got your savings safely away.
These are just a few suggestions on how to save up some extra money. There are many other things you can be doing. Mainly, just try to be aware of spending money. If you’re saving up for one thing in particular, then always compare something you don’t really need to that goal. Would you rather have that extra overpriced cocktail, or put the money towards that holiday you’re wanting?