3 Ways to Save Lots of Money Over a Year Even If You’re a Big Spender
Saving money is not an easy task especially for those who spend a lot and can't stop. But sometimes we need to buy necessary items and some savings would be really nice to have.
Today, Bright Side explains 3 simple tips that will help you save a necessary amount of money quickly.
Saving in stages
This method takes a year or 52 weeks. The point is to save a bigger amount every week than you saved the week before.
For example, start with $5. Next week, put aside $10, then $15. And during the last week of the year put in $260.
By the end of the year, you will have saved $6,890.
This method works only if you put aside money regularly, without spending any. If it is too hard, try to decrease the amount and put aside money every month instead of every week.
Buy and save
This easy method helps you to not only save money but also keep track of your expenses. The point is to put aside a percentage of every purchase you make.
For example, say you decided to put aside 10% of every purchase. A new sweater that costs $30 will give you $3. If you spend $150 a month, you will have saved $180 in a year.
You can decide for yourself when to put aside money and when not to. Either consider all of your purchases or only the ones that are bigger than a certain amount.
This method is easy if you have a credit card. Many banks let you save a certain amount of money from every purchase you make.
Turning bad habits into savings
The point of this method is to put aside a fixed amount of money for every bad habit that you have.
For example, say you are constantly late for work or regularly miss trips to the gym. You put $1, $3, or even $20 aside. You set the amount of the fine. The most important thing is to set the amount in the very beginning and not to decrease it.
This method will help you give up bad habits and put aside money at the same time.
For example, if you put aside $20 every month, you will have saved $240 over 12 months.
Which of these methods do you think you can use? Tell us in the comment section below!