Better Budget: 5 Money Saving Tips to Implement
Monday, January 29, 2018, 6:00 AM | Leave Comment
Learning to stick to a budget is an important part of leading a financially stable life.
The sooner you learn to do this, the better, because as a young adult, you’re building the financial habits that you’ll follow for the rest of your life.
Whether you’re finding yourself low on cash every month or you’re simply trying to save more, here are five tips that you can implement to save money.
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Cancel Unnecessary Services
Some services are non-negotiable. You can’t exactly decide that you want to cancel your power bill or your gas bill every month. But there are also plenty of services people sign up for but don’t really need.
Go over what you pay every month and look for services you can cut. A good place to start is entertainment, including your cable bill and any streaming services. It’s alright if you want to keep one streaming service for some entertainment, but there’s no need to have several.
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Look for Cheaper Alternatives to the Services You Keep
It’s easy to get locked in to paying a certain amount every month for something, but you can end up missing out on savings when you do this. There may be a cheaper car insurance policy or cell phone plan out there, but you won’t know unless you check some comparison sites to see what your options are.
For any services where they are multiple providers available, compare rates every few months. If there’s a better deal available, go ahead and switch over.
Look into smaller cell phone options like Flash Wireless and Boost Mobile instead of sticking to the big 4 that most people use.
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Find Fun Activities That Don’t Cost You Anything
When you’re young, it seems like life can revolve around bars and nightclubs. These definitely aren’t easy on your wallet, though, and you don’t need to go out all the time to have fun.
Look up activities in your city that you won’t need to spend much money to participate in. Hitting the beach or going hiking are both free, and they’re great ways to get outdoors. Book clubs don’t cost a dime, and many art galleries offer free admission on some days, as well.
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Wait before You Buy Things You Want
Just because you’re sticking to a budget doesn’t mean you need to deprive yourself of everything. It’s okay to make the occasional fun purchase with your disposable income. The best way to avoid making purchases you regret is to wait at least 24 hours before you make them.
If you still want to make the purchase after that time, then go ahead and do it. If you’ve thought about it and realized you don’t need the product or service, then don’t get it. Waiting like this helps you avoid getting swept up in emotions and spending money on things that really won’t make you happy.
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Hunt down the Best Bargains
There are plenty of ways to get better deals when you shop, and the internet makes it easy to find them. Before you buy anything, search online to see if there are any coupons you can use at that store or if there are any sales coming up soon. Find a few sites that tend to offer the best deals.
When you start doing this, it will take some time to find discounts. The more you do it, the easier it gets. Eventually, finding bargains and coupons will become second nature to you.
All it takes is a few lifestyle adjustments to save a lot of money every month. Try the five tips listed above and see how they work for you.
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Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max.
