Everything You Need to Know about Saving Money
If you think saving money is hard, read on:
What you need to know about SAVING MONEY:
1. Don’t spend it! Novel idea, I know, but…if you don’t go the store, you won’t end up spending any money. If you have no needs, don’t go shopping! And especially if you have no money, don’t go shopping! Hellooo??? (I actually know people who don’t understand this concept! Do you?)
2. If you are going to spend it, prepare for it. In other words, don’t buy impulsively. On any large purchase, wait a month before getting it. If you still need it after the 30 days are over and you can still afford it, then go for it! But always plan for it.
Plan your weekly grocery visits. Never go the grocery store without a list (and your coupons, of course). Then buy only what is on that list. That will keep you from coming out with a boatload of impulse items.
3. Create a budget. See #4.
4. Use cash for all of your purchases and allowances. Whatever you do, don’t use your debit card if you run out of cash. For more information on budgeting and cash purchases, get Dave Ramsey’s book “Total Money Makeover”.
5. Plan and save for impulse buys, too! Should you never purchase anything on impulse? Only if you haven’t set cash aside ahead of time to do so! Give yourself and your spouse a small monthly allowance–a little mad money will make everyone happier. But when it’s gone, it’s gone! Remember, no ATM!
In a nut-shell, this IS everything you need to know about saving money. ‘Course details can help. Do take the time to read Dave Ramsey’s book on personal finances. It will go into greater detail on the five points above.
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About the Author
Blogger and writer for “Lynchburg Deal Hunter”, Deal Hunter has been helping other moms and shoppers save money and find great deals.