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How Saving Money Is Still Possible Even If You’re on a Tight Budget

How Saving Money Is Still Possible Even If You’re on a Tight Budget

We have all been there. Checking our bank accounts obsessively, fruitlessly hoping that money will just show up. Maybe you’re in the midst of a job transition, or maybe you don’t have a steady job at all. Whether you make your money through odd-jobs, a steady salary or part time work, there is a way to save money, despite the budget.

It’s scary, right? Trying to make ends meet while not turning into a recluse and always having to make up excuses while you can’t go out. You can start to feel like a bad friend and a lame person. But that’s just not the truth. We’ve all struggled with money, despite our age or profession. It takes time, effort and a whole lot of patience and self-forgiveness before you can figure out the right way to save. But there is hope!

When You Get Money in Your Account, Pay Yourself First

Even if you don’t earn much at the moment, there is no excuse of spending more than you save. Have you ever heard the expression, “Pay yourself first?” Whether you have a salary in which you automatically contribute a percentage of your paycheck to a 401k or your savings account, or even an old-school piggy bank where you store loose change, it’s so important to pay yourself (aka: put some money aside) before you spend on anything else. And if you use the solutions below, it can be easier than you think.

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Saving Money Can Be Easier Than You Think If You Do These 8 Things Regularly

1. Negotiate new rates and fees

This one can be scary for people who aren’t used to asking for things, but it’s so important and it really does work. I hate owning credit cards, but with an upcoming wedding, it’s sort of a necessary evil for me. But I was really sick of the high APR on the card I used often because I had been a long time customer and always paid more than minimum. Once I had paid the card off, I called and told them they would either lower my interest, or I would take my business elsewhere. Guess which one they chose?

You can also do this with utility bills. Call the companies and ask if they can work with you on the fees. If not, threaten to go to their competition. Don’t be hateful, I’m not encouraging you to start fights, but stand your ground and let them know you’re willing to pay someone else.[1]

2. Unplug the unused electronics (It’s not only an environmentally-friendly practice!)

Well, unplug all the electronics in your house. Did you know that if something is plugged in, regardless of whether or not it’s being used, it’s still sucking up energy and increasing your bills? So unplug your phone charger, the blender, the coffee machine, the TV, your computer charger…. you get the point. You’ll be amazed at what you start to save.

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3. Draft a list before you go shopping

Everyone knows to avoid grocery shopping when they’re hungry. It’s a sure way to buy way more than you intended, all because of your growling tummy. But the same thing happens when you don’t have a list/you don’t stick to your list. Plan ahead and stick to your shopping plan. More so, buy in bulk for cheaper prices and download some grocery store rebate apps on your phone!

4. Balance your checkbook

I know, I know, I sound like your parent. But balancing your checkbook is a great way to know how much money you actually have. Financial apps, like the one your bank no doubt offers, are great, but they aren’t always current to the minute. This can lead to hefty overdraft fees if you aren’t paying attention and spend more than you have. Seriously. Do it.[2]

5. Use cash before your card

The budget I created for myself involves reserving envelopes of cash for specific things. For instance, $200 specifically for groceries, $50 for restaurants/coffee shops and $25 for miscellaneous. I would only spend according to those envelopes, and if I ran out of cash, then I’ve spent all I can. Too bad. This is done in hopes of having a certain amount leftover at the end of the month to be put directly into my savings account. While it isn’t always realistic/smart/safe to carry around envelopes of cash, the idea is a good one. Really limit yourself to what you want to spend, and use cash before your card. There’s something about the feeling of handing over paper money that hurts a lot more than swiping some plastic.

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6. Bank on other people’s poor spending habits

You know that one friend you have who is always spending money on the latest trend and winds up with a box of stuff he/she no longer wears? Maybe they donate it as a tax write-off, or maybe they just throw it out. Tell them you want it instead! You’ll have a constantly changing wardrobe and it won’t cost you a dime! If you don’t have a friend like this, then buy used in general. Thrifting used to be taboo, but now second-hand is all the rage. eBay, Poshmark, ThreadUp and more are all great options to get new items for less.[3]

7. Get a programmable thermostat

This is one of those options that requires you to spend some money in order to save it, but for around $40, you can get a basic model and cut your energy bills by 15% ($45 a month!!). Some of these apps even sync to your phone, so you can adjust the temperature from anywhere. That’s a great feature for someone like me who constantly forgets to set it to 78* before leaving in the morning!

8. Pack your lunch

It can be so tempting to go to lunch nearby every day, especially if you work in the city. But have you ever calculated what you spend in a week on lunch or coffee? It’s sickening! If you go out to lunch 5 times a week, pack your lunch three times next week and see how much you save. You’ll be shocked and your bank account will thank you!

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So what do you think? Doable, right? I told you. Have other money-saving tips not mentioned here? Make sure to share!

Reference

More by this author

Heather Poole

Heather shares about everyday lifestyle tips on Lifehack.

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Last Updated on July 3, 2020

6 Things To Do Every Day To Ensure You Stick To Your Goals

6 Things To Do Every Day To Ensure You Stick To Your Goals

Sticking to your goals can sometimes be challenging. We all want better health, better careers, and better jobs, and we want to cast an impression on everyone that we are living fulfilled lives.

Yet to reach our goals and make every minute of our time count requires commitment, consistency, and hard work. Setting goals is one thing, but sticking to them is another. We have to observe certain daily practices if we want to get the best out of ourselves.

Here are 6 things that you have to ensure daily to reach your goals.

1. Involve Others

You have to be accountable for the actions you are committing yourself to. Involve everyone around you, get them engaged, and talk to them on how they can help you accomplish your goals.

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When you involve others you feel, you have a responsibility towards them as well as yourself. Every day, make sure you are accountable for sticking to your goals. By joining groups or engaging others, you have more motivation to reach your goals.

For example, if you want to read more, try joining a book club. If you want to be a better entrepreneur, join an entrepreneurial organization.

2. Visualize the Rewards

Reaching a goal can be challenging and sometimes, it can be overwhelming. When the journey becomes tough and difficult, try to stick to visualizing your successes every day.

Wake up to visualize what rewards you will get from sticking to meeting your goals. If you want to lose some pounds, visualize yourself already underweight and benefiting from being underweight. The mind has a way of channeling your body and intentions to sticking to your goals and reaching them.

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3. Break Down Your Goals

Try to break down your goals into tiny chunks. The smaller the size of the goals, the more willing and prepared you are to meet them.

For example, if you find it difficult to get out of the house and take a workout at the gym, why not try to break the goal into making sure you are always dressed for the gym daily? By doing this, you demonstrate that you are moving in the right direction, and you can keep this momentum so you can meet the larger goal.

4. Reward Yourself

For every progress you make daily towards reaching your goals, try to vindicate and reward yourself. By doing this you appreciate yourself and the hard work you have put in for the day.

When you reward yourself, you program yourself to benefit from a larger reward in the future. You also propel yourself to gain daily rewards, which can be enticing and motivating. Rewarding yourself serves as a form of positive reinforcement that reinforces your mind and behavior to stick to your goals and stay motivated.

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5. Measure Your Progress

It is easy to become frustrated when you are not getting instant results. Change can be slow and rewards are not always immediate. Still, progress can be measured even in tiny bits, so take time to look back at where you are coming from.

You don’t have to feel depressed about not making that major progress in an instant. But when you journal or snap pictures to document your progress, no matter how small, you will feel grateful and elated to see what difference you have made from where you are coming from up until now.

6. Believe in the Possibilities

If you don’t even believe in the possibility of reaching your goals, how can you expect yourself to stick to your goals in the first place?

By believing in the possibilities of accomplishing a goal or task, you increase your chance of reaching it and eradicating whatever roadblocks or challenges you may face. Believe in what you can achieve.

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What self-belief has over self-control is that while self-control can be depleted but self-belief cannot. We all have an enormous reservoir of how much we can believe in ourselves.

With believing in ourselves comes perseverance, determination, and desire to reaching our goals. Every day, understand that what you need to keep going is your belief toward achieving your goals. Your goals are reachable if you think you can reach them!

Final Words

Due to circumstances in life, people tend to abandon some of their goals in life. You may also feel this way sometimes. In that case, just come back to this article and remember the 6 ways you can help yourself stick to your goals.

People don’t always reach their goals, but you will never know if you can reach them if you don’t stick to them in the first place. As long as you stick to your goals, there will always be the possibility of you achieving them!

More Tips on How to Stick to Your Goals

Featured photo credit: Kelly Sikkema via unsplash.com

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