Top ways to save money in 2018
If you’re like most people, you may be aiming to improve your financial situation in 2018. A new year often encourages us to look at our goals and see if our habits are in line with where we’d like to be in the future. With that in mind, here are some top ways you can save money in 2018:
Create a budget
How can you save money if you don’t know what your spending and where you can trim the fat? Creating a budget may sound like the world’s worst homework, but it’s one of the key ways that you can get control of your finances. The first step? Track your spending for a couple of weeks and see where you’re spending money. Now, write down your goals (this greatly increases your chances of actually meeting them. How can you change your budget to make it easier for you to meet these goals?
One of the best things you can is to set up automatic payments for your bills. At the same time, set up an automatic transfer from your checking to your savings account. That way, you’ll be saving automatically and the money won’t be in your main account to tempt you.
Make it easy
One of the best ways you can save money is to call your current providers for everything from gas to insurance to credit cards to wifi and electricity. These can often be negotiated, and you’ll be surprised how much you can save by simply switching providers.
It’s also a good idea to consider what you’re buying. Here’s the thing: Sticking to a budget doesn’t mean you never get to go shopping or out to dinner. You simply cut down on the things you can live without and shop smart. One example? Instead of buying two separate kinds of jewellery for day and night, check out Valani, which has a great range of day-to-night pieces. Many of these use colored gemstones which can easily be dressed up or down.
I also like to avoid fast fashion. Instead of purchasing four $20 tops, I would rather buy one $100 shirt that has a classic look and can be worn for multiple years.
Consider your lifestyle
Are you the kind of person who can’t live without her daily Starbucks? Do you tend to eat out two to three times a week because you’re too tired to cook? I’m not saying that you need to completely give up these things (my life would suck without the occasional skinny caramel latter). But look for ways that you can cut out a few extra expenses and put the extra money in your savings. A few hours spent prepping your meals on a Sunday can help with both your waistline and your wallet through the week. Take your coffee to work instead of stopping at Starbucks and you’ll be able to afford brunch with friends instead on Saturday. These are just a few examples of how you can get the most out of life while still improving your finances this year.