Even when you have an entire bank (that’s us, by the way) rooting for you and an app to make things considerably easier, your habits determine how well you can pull off your grand plan to save money. This basically means you have all the power to do better with your finances, and these are some good money habits you should build:
1. Your bills come first.
Pay them as soon as you have the money so you can focus on what you have left. The longer you put off paying your bills, the more likely it is that you’ll end up paying them with money you should save.
2. Your budget is a rule, not an exception.
Curbing your appetite is easier said than done (just ask small chops addicts), and it’s particularly hard when you have quite a bit of spending money. The way out? A budget. It’s dead-simple and very effective if you follow it. This is a good guide to budgeting.
3. Stock your fridge and pantry.
Eating out may seem like a life of ease, but the devil is in the details. Unless you’re buying the cheapest of meals (which is unlikely to be a healthy lifestyle option), cooking is considerably better for your finances. Not only does it save you the overhead costs, tax and service charge restaurants tack on to your food bill, it could also keep you from falling sick (and spending extra money on drugs).
4. Save for good things.
An emergency fund is very useful (and the fear of the unknown can be a decent motivator), but not everyone cares about having backup cash for tight spots. If you’re one of such very optimistic people, try the positive: save for pleasant surprises. In anticipation of good deals and irresistible offers, put some money away regularly. Even the smallest amounts add up eventually.
Image via Pexels.