Ever wonder where all your money goes? Do you think you donate it all away? We all know that we can’t keep track of it all, but we have to start and try somewhere. You can’t get rich by doing this, but you can prevent yourself from being flat broke and possibly homeless. In this post, I will explain how you too can be a savvy saver when it comes to your money. Here are 10 ways to boost your personal budgeting skills.
1. Look out for Clip coupons:
These handy sheets will be your ultimate saviour in the long-run. It’s perhaps the most important aspect of your personal budgeting. Tearing those clip coupons will help you save hundreds of dollars from simply buying what you normally buy! If you’re looking to save at the cash register, here’s your #1 advice–look for clip coupons!
2. When you buy a lot, buy in bulk:
If you do see a sale on your favorite products, you should buy it in bulk. Whilst it may cost you a great deal at the moment, it’ll save you a whole lot in the future. Look for items without expiration dates, these you can store and take advantage that you don’t have to purchase them sometime in the future. These products include toiletries, soap, shampoos, detergents, and many other household tools and cleaners. If you find yourself concerned with the cost, consider it a greater concern when they are full-priced. You can also look out for canned foods that have lengthy expiration dates (an idea bulk purchasing product).
3. Save your change:
Even though it’s probably going to look like a little bit of change after finishing with the cash register, that bit of change can be a huge advantage once accumulated for your personal budgeting. In fact, try to keep collecting the change, you’ll wonder why you haven’t been doing it so regularly–it’ll add up! There are a lot of individuals who throw around their coins, with little concern with its potential. Nevertheless, try not to be those kinds of people, remember that piggy bank? Put it right there, it’s so easy.
4. Save a portion of your paycheck:
Each month, or whenever it’s payday, store a small portion (if you want, it can be whatever portion) into a savings account. No matter how small, just make sure commit to setting aside perhaps $10-15, it’s a great start. If you’re really intent on doing this, I suggest 10-15%.
5. Stop Impulsive Shopping:
I guarantee you that if you continue impulsive shopping, you’ll end up with what is known as “buyer’s remorse”. To successfully avoid this, ask yourself: what do I want to shop for? When answering this, don’t include last minute additions. Only buy what you need at the moment and don’t buy things that will put you in a tight spot.
6. The Sales Racks, Go For Them:
We all want to improve our wardrobes and we would love to do it as inexpensively as possible. To accomplish this, visit the sales racks for huge savings. There’s absolutely nothing disconcerting about saving a lot, even if those purchases come from the sales rack. In addition, keeping those savings can give you the opportunity you need to buy just what you were hoping for!
7. Don’t use high-interest credit cards:
Ask yourself, can I pay those credit card bills in six months? If not, then keep away from using these high-interest credit cards. If you end up using them, you’ll probably end up paying the same purchase a hundred times in interest.
8. Use a 0% APR credit card:
If you’ve decided to use credit cards, try out those introductory 0% APR cards with real low interest rates. This will save you a lot each month and in the future–an important aspect of personal budgeting.
9. Ask for free samples:
There are a lot of websites which offer a lot of discounts and samples, an example is StartSampling.com. These sites grant customers the chance to ask for free product samples. There is a huge catalog including skin-care lotions, shampoos, household products, and even dog treats. You might just get lucky! If you have a favorite brand, try to go to that company’s website and look around for free samples of their latest products–these companies are itching for people to try out their stuff, it’s how they make those sales!
10. Experiencing difficulties with credit card use? Ask your creditor to be put in the hardship/leniency programs:
These programs are a relief because they offer increasingly lower interest rates with the deal that you’ll be able to pay smaller amounts over a longer period of time. This depends largely on the creditor’s preference, sometimes they might even allow this agreement to continue until the whole bill is paid. Whilst this won’t help you with your personal financing, knowing this option is important for when you’re stuck and until you can get back to your personal financing habits.