Learn how to save money every month, starting today. What would you do with an extra $100 every month? Spend it on some new shoes, or save it so you had a cool $1,000 at the end of the year for the holidays? Whatever your needs, you can get that extra money by showing a little financial discipline. Some cost-cutting ideas are easier than you think, and they really add up to a nice monthly savings. The key to savings is discipline.
Brown-bag your lunches instead of eating out. Buying lunch regularly to the tune of $7 to $10 a day can cost you more than $150 a month. Even cutting back the frequency of eating out can save $50 a month or more.
Keep a grocery list for when you go shopping, and stick to it. Impulse shopping is the No. 1 killer of grocery budgets. Make out your list the day before and then stick to it no matter what.Clip coupons. Saving an additional $5 a week — at least $20 a month — should be easy with just coupons alone. Shop on days when grocery stores double the value of the coupons or offer additional specials.
Create a monthly budget that records your bills, loans, utilities, groceries, clothing allowance, entertainment and savings. Don’t forget to include some kind of emergency account for emergencies, such as when your car’s brakes go or you need a plumber the money is coming from somewhere. Include savings in your budget. When you are done totaling your expenses and comparing it to your income, there shouldn’t be any money left over; it should all have a designated job.
Wait to make a special purchase. The next time you want to purchase something over $50, for example, wait 48 hours. If you still want or need it after thinking about it for a couple of days, then go ahead. If the item was more of an impulse buy, the 48 hours should help you realize that. If you do this regularly, your cost savings can average out to an additional $10 to $20 a month.