Every month when your paycheck rolls in, how much are you saving and spending? Do you know where your money goes each month? Are you feeling like you aren’t saving enough? We’re bringing you 5 ways to make your paycheck go further each month.
There is a lot we can all learn about saving money. Who wouldn’t rather have more money for savings or for fun activities and adventures each month? Or maybe you have a big life event coming up like a wedding or a move! Saving money for important life changes can be more than helpful, but actually necessary! With these 5 tips you can learn some easy ways to make your money go further with each paycheck.
5 Ways to Make Your Paycheck Go Further
Remember, different things work for different people. Don’t be totally discouraged if something does not work for you or your lifestyle. Keep working towards making changes and in the long run, you’ll notice a difference! Savings accounts do not have to double in size each week for them to be successful. Where money and finances are concerned, a little bit can go a long way.
Make a Budget | Stick To It!
One of the easiest ways you can make your paycheck go further is by having a budget in place and sticking to it without question. A budget allows you to see where you NEED to spend money and identify places where you can possibly cut back on expenses. I recommend you spend one month documenting EVERY penny you spend before you do a budget. This way you can accurately access where your money is being prioritized. Once you see how you spend money you can easily make adjustments in order to save!
Shop Smart | Sales, Coupons, and Secondhand Items
Not all of your shopping needs to be discontinued. You can still go shopping if that is something that you really enjoy or need to do. The key is to shop smart. Make wise investments with your money. This goes for everything from groceries to handbags. Purchase things that are quality items but are also affordable. Get the best price. In today’s world of online deals, coupons, and resales, you can always get something below retail or on sale. A little homework will pay off in the long run.
You might think that it doesn’t make much sense to pay more for something reusable. In the long run, reusable items actually save you money (and they’re good for the environment). Things like lunch bags, water bottles, coffee mugs, and more. Plus, these items will encourage you to pack your lunch, bring coffee and beverages from home, and spend less in convenience type locations each day.
Carpool | Public Transportation
If you live in an area where you can take advantage of public transportation or a carpool, this can save you a lot of money each month. You can make your paycheck go further by not spending money on things you don’t need. For a lot of people a car, truck, or SUV is a necessity. For others, and you might find, yourself, a vehicle is actually more expensive than it is worth! Until you get done with service fees, maintenance, insurance, and payments, you could be looking at quite a large bill. If you don’t do much traveling and public transpiration is available to you readily, it might be smart to ditch the personal vehicle and stick to other options!
Shop Around | Cable, Cell Phones, Gym Memberships and More
Did you know that new members of almost ANYTHING subscription based end up getting a better deal. Oftentimes these deals are locked in for a few years as well. You can save yourself a lot of money and make your paycheck go further by just shopping around for options. Another great idea is to let your companies know that you are shopping around for better plans. In some cases this will encourage them to offer you better pricing on your current plans. I do this with my cell phones and cable plan regularly. They tend to creep up slowly and eventually I’m paying double my initial rate. I call and tell them I wish to cancel to move to a different company and can often get a reduction in my rate plan. If I don’t get a reduction in rate I know I can always shop around and find a new company that offers a better deal.