Saving money is never easy, especially if you constantly don’t have any of it left by the end of the month. It takes some effort and discipline, but it’s possible to save up even if you’re living paycheck to paycheck.
Here’s how:
Know Your “Why”
You need to have a reason why you want to save and it will motivate you to do it. Whether it’s a vacation, down payment for a house, or just financial security, figure out your “why” first.
Start Fresh
Open a new savings account and get excited about watching it grow over time.
Be Merciless With Your Bills
Go through your bills and see where you could be paying less. Try to get discounts for services you’ve been using for a long time, such as credit cards and car insurance.
Save First
If you want to save “whatever’s leftover” by the end of the month, you won’t get too far. It’s really important to save first then spend whatever’s left.
Multiple Income Sources
It’s always a good idea to try and earn some additional money that you can save. Instead of asking for more hours at your job, try something else during your spare time so you’ll have more than one sources of income.