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Tips to Help you Save Money Featured

05 Feb

Saving money can either be easy or very hard for people to do. Some have a knack for cutting their spending, while others live in debt. Saving, though is an art that requires time, persistency, and consistency to master. Here are some of our tips to help you save.

1. Chart your expenses: Make an document that lists your monthly earnings and include all of your expenses such as rent or mortgage, car payments, insurance, childcare, food, gas and more. Estimate how much you spend every month and calculate it into a document so you can see how much money you have at the end of the month.

2. Assess your money: Sure, you may want to spend and enjoy your money but if you are looking to save, you will have to put some away every month. The general rule of thumb is around 10% of your earrings.

3. Mindful spending: When you are saving money, you will also have to think mindfully by assessing if you really certain items, like those cool and fab, and have-to-have shoes. You will have to adjust the way you spend your money by weighing the future vs. the present.

4. Make a budget: When you are saving money, make a budget and stick with it. Adjust it every month if new money comes in, or if you have new expenses.

5. Set goals: While you are saving it might be hard to see the big picture. Just as you have to budget, you have to set goals for your money such you are trying to buy a house or save for college.


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