It is a nice thought to have enough savings in your account for a rainy day but putting aside funds when you are managing day to day expenditures is not an easy task at all.
Nonetheless, saving up also should not mean that you sacrifice things that make you happy or the activities that you enjoy. In fact, you can save money by setting reasonable goals and budgeting your needs more wisely.
Need help? Let’s take a look at the do’s and don’ts of when you are trying to save up!
Table of Contents
You Shouldn’t Go on a Pricey Vacation
As we said, saving shouldn’t be about letting go of the things you enjoy but maybe a pricey vacation can be replaced by something less expensive and equally enjoyable?
Travelling to a far off location may be your idea of vacation but when you are on a tight-budget and need to save up, it is better to start exploring local spots that can be fun.
You Shouldn’t Ignore Your Bills
You can put off bills as long as you want but eventually, they need to be dealt with. In fact, if you ignore some till the due date has passed, you may need to pay penalty fees as well. Not good!
Getting done with paying important bills should be a priority whether you are planning to save up or not. Clearing monthly bills at the start of the cycle would give you a better idea of how much budget you have for the rest of the month and help you budget accordingly.
You Shouldn’t Buy Stuff That You Don’t Need
This sounds like a vague statement, right? The line between wanting something and needing it is quite thin. For example, you may think you need to give someone an expensive gift when you can be creative and come up with something that is budget-friendly and personalized.
Same goes for the cosmetics that you have piled up, clothes, accessories, and so much stuff that you need to consider before hitting the shopping mall again. Moreover, even if you decide to go, there are always more pocket-friendly shopping options available!
You Should Do What You Can Do Yourself Instead of Hiring Help
We often hire house-help not because we aren’t fit for the job but because we are too lazy to do it ourselves. Same goes to getting food delivered to the doorsteps of washing the car.
The money you can save from such tasks can amount up to a lot in a course of a month or two.
You Should Be Productive In Your Free Time
If you have some extra time on your hands, it wouldn’t be a good idea to waste it away, especially when you want to build up your savings. The world out there is full of opportunities and you can score yourself a decent part-time job.
There are even online jobs available that won’t require you to leave the comfort of your home. People have made a handsome amount of cash by this method and it would surely work for you as well.
You Should Shift To More Rewarding Modes of Payment
Did you know that paying through certain mobile apps or cards can get you cash back rewards and discounts? If you are new to this information, you should read more mobile money transfer apps such as Cash App or Venmo.
Later on, you can transfer the funds from your card to mobile payment apps and maybe you will be able to save some extra dollars next time you are out shopping.
