20 FRUGAL WAYS TO SAVE MONEY EVERY MONTH!

Want to know how to save money so you can save? Many important points must be considered so that you can save consistently!

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This time businessoldnet will discuss 20 great ways to save money so you can add to your savings!

The Right Steps to Start Consistent Save Money

Many people find it difficult to save because the money has been used up for daily needs.

In fact, you should prioritize funds to save. If you don’t have savings, when can you achieve your financial goals?

Therefore, in this article, my Financial will provide guidance so you can start saving consistently. Come see the 8 steps!

1 Record your expenses

The first step to saving is knowing how much you spend each month.

Record all expenses, from small to large expenses.

Write down how much money goes out to buy coffee in the cafe, record your expenses after you pay the electricity bill, the key is disciplined notes!

2 Make a Budget

After knowing how much money is going out for a month, you have to start making a budget.

This budget serves as a “stop” for your expenses. And by having a budget, you can eliminate less important expenses.

3 Allocate Money to Save

After you plan your expenditure budget with minimum expenditure, this is your time to enter the savings category.

The amount of money to save can be adjusted to your financial condition.

4 Still Difficulties in Committing to Saving? Have a Goal!

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One of the main motives that can encourage people to save is when they have financial goals.

If you feel lack of motivation to save, it’s time you determine your financial goals.

Try to think about what you want to achieve, buy a house? Buy a car? Vacation to Europe?

After having a goal, try to calculate how long you have to save in order to achieve that goal.

5 Can You Have Many Goals?

Well, maybe some of you ask:

“Can you have more than one financial goal at a time?”

The answer: of course you can!

How come you have more than one goal, but there are things you have to pay attention to: you have to make a priority scale for your financial goals.

Short-term financial goals (for example 1 year) such as vacation may be prioritized, but do not let you forget your long-term goals (for example 5 years) such as paying for a house.

6 Choice for Growing Your Savings

Interest in saving at banks only reaches 1% on average, not to mention the monthly administration costs.

Therefore, if you want your savings to grow, start saving money in investment instruments.

For short term (1-3 years), you can invest in fixed income funds or deposits.

While for the long term (5-10 years), you can try investing in gold, equity funds, or stocks.

7 Use the Autodebet System

Almost all banks offer autodebet service or automatic withdrawal of the money in your account.

This system is very useful for saving, especially for those of you who often forget to allocate your savings to other “bags”.

8 Check your Savings Money Every Month

Believe it, this step will trigger you to be more diligent in saving and achieving your financial goals as quickly as possible.

20 Examples of Savings Expenditures

As explained above, there are many expenses that can be saved so you can increase the amount of money to save.

Not just an additional category of needs, you can suppress it, the main needs categories such as shopping for kitchen needs and telephone bills can also be saved!

Come see with 20 tips below:

1 Move to a more profitable bank

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There are many reasons to move banks, one of which is the amount of administrative costs each month.

You don’t have to change banks, you can change the type of savings in the same bank.

Especially if your transaction limit per day is not so big, it’s better to move to a type of savings with lower administrative costs.

2 Reduce Watching Television

One way to save money is to reduce the frequency and duration of watching television.

There are many financial benefits if you do this: not exposed to product advertisements that encourage spending, lower electricity bills, and more time to focus on other important things.

Want to go further? You can consider quitting cable TV!

3 Make Your Own Gift

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If you want to save money but still want to give a gift to your loved ones, you can make your own gift or cool language: Do it Yourself.

Besides being more efficient, homemade gifts will give more impression to others, because you put more love and effort into making it.

Right now, you can also easily copy DIY gift tutorials on Youtube.

4 Make a List Before Shopping and Comply with the List

One of the easiest ways to save money is to make a shopping list before shopping.

When you don’t have a shopping list, you will usually end up buying other items that are not planned.

That’s why making a shopping list is very important. But, more importantly, obey the list!

5 Invite friends to your home

Frugality does not mean breaking the relationship with friends because you don’t want to spend money when hanging out outside.

Indeed, hanging out outside can directly destroy your budget.

But to get around that, you can invite your friends to eat at home.

You can wander or barbeque while playing cards or watching movies together.

Of course this alternative will save you more money without having to sacrifice your relationship with friends.

6 Take care of your closet

When was the last time you unpacked the closet? Maybe it’s been a year ago.

On this weekend, try to dismantle your closet and separate clothes that you no longer use.

You can make a garage sale if there are lots of clothes, but you can also sell them online at a marketplace that accepts preloved items such as Carousel, Shopee, or eBay.

Don’t forget to donate some of these clothes to victims of natural disasters, huh.

Besides juggling old items into money, you can also have a calmer heart because of charity.

7 Drink lots of water

Besides having great health benefits, drinking water also has financial benefits.

Drinking a large glass of water before meals can fill the stomach and eventually the portion of food becomes less. That way you can save money.

8 Avoid Fast Food

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Not only does it drain the bag, fast food also worsens human health.

For that, avoid fast food and eat healthy food!

That way, your body becomes less susceptible to illness and does not have to pay for going to the doctor or hospital.

9 Turn Off the Light When Not Used

Allowing the lights to continue even when not in use is a very wasteful habit. It may not be felt, but if you count the habit is one source of swelling your electricity bill!

For that, don’t forget to turn off the lights every time you leave the room. Also turn off the lights at home when during the day.

10 Stop using a credit card

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Credit cards must be used wisely.

To keep nfasu from shopping, remove your credit card from your wallet and hide it in a safe place in your home.

Remember, credit cards can only be used for emergencies.

Don’t take it with you because you might be tempted to use it.

11 Compare Prices between Stores

Do you shop at the same store every month and don’t care about the price difference between one supermarket and another?

If so, try changing this habit and start comparing prices between stores.

There is a simple way to find the cheapest supermarket. Just prepare a list of 20 or more of the things you buy most often.

12 Shopping in the Holiday Season

Usually in the holiday season shops will offer discounts and special prices.

For that, shop in the holiday season such as Eid, Christmas, or the moment of independence.

13 Avoid the Mall

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The mall is the most draining place for our bags. How come? The boards read 50% off, buy 2 get 1, new collection seemed to call us just for window shopping.

That’s why you have to avoid the mall unless there really is an urgent need.

Avoid going to the mall and get entertainment in other places, such as going hiking with friends, watching movies at home, or picnicking in the park can be an alternative entertainment for you.

14 Rent a vacant room in your house

Is there a bedroom in your home that is not used? Rent the room on a site like Airbnb.
 
Especially if your place of residence is close to the city center or tourist destination, it will definitely bring you a lot of extra money.

But before that, make sure that you know the risk!

15 Start Gardening

Gardening can be a cheap and profitable hobby if you have a page.

Plant your yard with vegetables or fruits that you like.

You can also supply healthy and organic food for your family without having to buy expensive.

If your home page is limited, you can try gardening using the hydroponic method that doesn’t take up too much space.

16 Use Public Transportation

If there is a public transportation stop near your house, let’s start using public transportation to the office instead of driving a car.

Especially if you live in a big city that has become increasingly chaotic due to traffic jams, public transportation will be much cheaper and faster than riding a car.

Besides saving money, you can also reduce congestion and air pollution that trigger global warming.
 

17 Buy Wholesale

Buying wholesale goods is certainly much cheaper if calculated by units.

For that, buy items that you often use in large quantities. For example garbage bags, tissues, detergents, soap, toothbrushes.

By buying large quantities of goods at once, you can also reduce gasoline and parking costs when shopping.

18 Don’t Speed

These tips sound unimportant, but in reality driving a vehicle at high speeds tends to consume more fuel.

To save gas, you should drive at normal speed.

19 Buy used items

Find a thrift shop in your city and try playing there when there is no time.

You can find branded items that are still good at a much cheaper price at thrift stores.

There are various items in second-hand stores, ranging from home furnishings, clothing, even video game tapes.

20 Repair clothes instead of throwing them away

Do not throw away your shirt because the buttons are off, sew new buttons with matching colors.

Don’t throw your pants just because there is a hole in his knee, buy the latest patch that is sold in the online shop and sew the patch to cover the hole.

Don’t throw away the small shirt, cut it into a square and use it as a cloth in your kitchen or garden.

Be creative! Learning basic sewing skills is the right way to save money and extend the life of your clothes.

Main Commitment and Discipline

Determined to live frugally and discipline in carrying out it will bring you closer to your financial goals.

Conversely, if it is not done with discipline, the budget will only be a futile plan.

In essence, save according to what you have planned and the temptation to be extravagant!

Source: businessoldnet

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