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Tips To Saving Money | Part 2

Now that you’ve read and learned the first 5 tips to saving money…here are the next 5 tips to learn and adapt to your day to day life.

  1. Spend extra income wisely | Stimulus check or unemployment check come into your hands during the last few months? If so, spend that money wisely! Do not use that money to buy the latest greatest iPhone or simply put the money away in the bank. Use that money to pay off any debt you still have. Do you still have student loans? Credit card debt? Use your extra money and make payments on those accounts. Have you finished paying off your debt? If so, use that money and set it aside into an emergency fund.
  2. Save money automatically | Do you have a hard time setting money aside? Thinking about taking your hard earned money and putting it away instead of spending it on something you really want doesn’t sound ideal. However, you can save your money automatically by setting up an automatic transfer of funds from your checking to your savings and not have to think about withdrawing the money. You can even set up your direct deposit to put a certain percentage of your paycheck into your savings and this way, you don’t have the money in hand to be tempted to spend it. You can’t spend what you don’t have right?
  3. Unsubscribe from emails | Do you sign up for all the newsletters and websites when you’re being offered a discount code? You know, all those websites that offer you 10-30% off if you are a first time buyer simply by inputting your email? Well, they’re targeting you. Once you subscribe to that website, they will send you sale after sale and you’ll end up buying things you didn’t even know you need. Go to your email and UNSUBSCRIBE now!!!
  4. Lower your electric bill | Do you forget to turn off the lights when you exit a room? Do you leave the TV on over night? Do you leave your computer on and plugged in even when you’re not using it? STOP all those things. You can even lower your bill simply by swapping out all your light bulbs to LED bulbs and using dimmer switches. The investment may seem costly at first but the overall savings will be worth it in the long run.
  5. Borrow what you need | You don’t have to buy every single gadget or appliance. It may be tempting to always buy what you need for a project but try asking around to see if someone has a loaner before you spend big bucks. Need to mow the lawn? Ask a friend, family member or neighbor if you can borrow theirs for a project…it’ll be cheaper to pay them for a single use than it would be to buy a lawn mower just for the project.
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