MAKE SAVING EASY

Make Saving Easy with these Spending Cuts

Everyone needs to have an emergency savings fund, but saving money can be difficult if you don’t feel like you are earning enough money. Here are some easy ways you can cut your spending. You’ll be surprised by how small changes add up!

1. Keep track of your spending

   There are many free apps you can use, like Mvelopes or Goodbudget. You could also just keep a small notebook with you and jot down spending the old-fashioned way.

   • Keep track of everything you spend, even if it seems small.

   • Once you know where your money is going, you’ll be able to see where you’re being wasteful or could cut back.

2. Reduce spending on pleasure

   Entertainment can be very expensive, but it doesn’t have to be. If you plan ahead and get creative, you can have just as much fun while spending less.

   • Watch a movie at home instead of going to the theater.

   • Invite friends for a potluck instead of going to a restaurant.

   • Make ice cream sundaes at home rather than going out.

   • Cigarettes and alcohol fall into the pleasure category, and they’re just not good for you. Cut back or quit, and your health and your finances will both improve.

3. Learn to cook

   Restaurants are extremely expensive and usually not very healthy. Check out a few new cookbooks at the library, or scour the internet for a recipe you’re craving. Tons of bloggers have published Copycat recipes for restaurant favorites from Paradise Bakery’s salted chocolate chips to P.F. Chang’s Chicken Lettuce Wraps. You can even watch tutorials on YouTube that will help you avoid common mishaps.

   • If you choose to cook at home even just once more per week more than you have been, you’ll see the savings add up quickly.

4. Shop around for cheaper alternatives

   Could you reduce your cable plan, or watch your favorite shows online for free? What if you used internet-based texting and a prepaid phone card instead of your current cell phone plan?

   • Take the time to consider other options for the things you spend money on. You may find you can enjoy all the same items for much less!

Reducing your spending can free up money for saving and for other tight areas of your budget. If your budget is limited by excess debt, call our office. We’ll help you create a plan to get out of debt so you can use your money wisely and effectively to meet your financial goals.