We are almost one week into the New Year and I know that many of you have set goals to save more money this year.
Luckily, if you are willing to make some minor revisions to your current financial situation you can do just that. The best part is all you have to do is make some simple changes to your financial routine.
Here are three easy ways to save more money this year.
Track Your Spending
First and foremost tracking your spending is the easiest and most effective thing you can do to save more money this year.
You don’t have to spend hours each day tracking your spending. In fact, you can accomplish this in about ten minutes per week.
To do this you need to save all of your receipts for the week. After that pick a simple spreadsheet to record these in. I use the “family monthly budget” which is a free Microsoft Excel template. If you already own Microsoft Excel all you need to do is search for this in the existing templates.
Once you have chosen a simple spreadsheet to your liking, simply set up your budget categories and at the end of every week take a look at your receipts and record them in the appropriate categories.
By doing this you’ll be able to see exactly where your money is going and will be more conscious about spending it.
Clean Your House
You’re probably thinking what does cleaning my house have to do with saving money? Well, I’m here to tell you that it does.
How many times have you bought double or triple of an item because you couldn’t find it? I know I’ve done this several times. Well, there are big differences with these. Make a family investment, you just have to figure out the differences between single family vs multifamily investments.
Take a few weeks to thoroughly clean your house, de-clutter, and organize. By doing this you’ll know exactly what you have and what you need. You can also sell the items that you no longer want and bring in more money to save!
Work on Your Grocery Budget
Grocery budgets are usually the first item people look at when they want to save money. The reason for this is that saving on food is the easiest area to save.
You can slash down your grocery budget by menu planning, crock pot cooking, and looking for sales at the grocery store. With a little concerted effort you’d be amazed at how easy it is to save money on food costs.
If you’re willing to make a few easy changes this year you can save a significant amount of money. Just remember to commit to the plan and take things slow.
If you try to do too much at once you’ll only be setting yourself up for failure. But, if you are able to stick to your plan you’ll discover more and more ways in which you can save money this year.