Start tracking your networth and finances with Personal Capital.
Create a Budget
The first step to saving money is creating a budget and sticking to it. Take a look at your income and expenses and figure out how much you can afford to save each month.
Automate Your Savings
Set up an automatic transfer from your checking to your savings account each month. This way, you won’t even have to think about saving money each month.
Cut Back on Eating Out
Eating out can be expensive. Try cutting back on eating out by packing your lunch for work, cooking dinner at home, and only going out to eat on special occasions.
Shop Smart
Take advantage of sales and coupons when shopping for groceries and other household items. Try buying in bulk to save money on items you use frequently.
Use Cash Back Apps
There are several apps that offer cash back for making purchases at participating stores. Make sure to use these apps whenever possible to save money on everyday purchases.
Cancel Subscriptions
Take a look at your monthly subscriptions and cancel any that you don’t use or need. This can include streaming services, gym memberships, or magazine subscriptions.
Lower Your Utility Bills
Lower your utility bills by turning off lights and electronics when you’re not using them, using energy-saving light bulbs, and adjusting the thermostat when you’re not at home.
Shop for Insurance
Shop around for insurance policies to make sure you’re getting the best coverage at the best price. Make sure to also review your policies annually to make sure you’re still getting the best deal.
Seize Opportunities to Earn Extra Money
Look for opportunities to earn extra money in your spare time. This could include taking on freelance work, selling items you no longer need, or participating in paid surveys online.
Be Mindful of Impulse Purchases
Before making a purchase, ask yourself if it’s something you really need. Avoid making impulse purchases and instead consider if the item is worth the money you’re spending on it.