4 Quick Tips To Help With Saving On A Regular

One way to start saving is by thinking of what you might want to save for, such as getting married, planning a vacation, buying a home, buying a car or saving for retirement. Next, figure out how much money you’ll need and how long it might take you to save for each goal. The best way to start your planning is by writing out your plan. Once this is fulfilled, record your expenses so you can know how much you spend each day, each week, and each month.

 Finding ways to cut spending is a major key point to saving money, and you will have to decide on what’s a priority. However, one can start a saving journey with a few quick tips.

Tip 1 Budget:

Another good way to save money is by budgeting. When you budget, you can track how much you are spending. A path to accumulating more is to start by recording your monthly bills and amounts such as rent, utilities, fuel, cable, mobile, etc. When you build your budget, don’t forget about the small expenses that we cumulate. The Money Professional, Raven Simon, gives a great example of items you could be overlooking in your budget that is causing you to miss the mark each month in her article, 10 Items You Are Missing In Your Budget. Therefore, don’t forget to record expenses like Netflix, Apple Music, App Memberships, etc. 

Tip 2 Create a saving routine with your money:

For example, pay yourself first, set up a minimum dollar amount to deposit every week into a savings account. Having a savings account with minimum access can be beneficial; a great example would be creating an online saving account not linked to your checking account or any other bank account.

Tip 3 Paying down debt:

Having debt can slow down your process of saving for big purchases. Therefore, you should organize your debt, prioritize debt, and consolidate loans. There is a good debt that has the opportunity to increase your net worth or enhance your life positively. Bad debt is consuming more than what you make or can payback. When you’re free from paying interest on your debt, whether good debt or bad debt, you can put that money into your savings or look into investing.

Tip 4 Investing:

There is no wrong way to invest! Investing your money isn’t limited to other money; you can invest in real estate, stock, art, jewelry, other businesses, or anything that gets your interest. Profit can come in tiers- instantly or within five to thirty years. Before investing your money, make sure you use your resources and have all of the right tools in place.

Most importantly! Do what works for you! Continue and progress! As long as it works and you are happy and enjoying it!

(BONUS!) Always be open to learning and connecting! Learning and connecting never ends 

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