Believe it or not, there are ways to save money as the year ends. It’s just a matter of discipline and smart planning. If you think you cannot resist spending a lot of cash attending parties and giving expensive gifts, then you’re wrong. Let’s admit it! We spend like kings and queens on the first three-quarters of 2015 while later we realize that we haven’t even saved anything for the upcoming year. How about our long-term plans and some future goals? Not to mention the debt that we’ve accumulated from the lavish spending early this year.
Is it hopeless to save up during the last minutes? Of course not, if you’re determined to save up then do it. It’s never too late to be responsible for your personal finances. Here are some ways to help you catch up on saving cash.
Way to Save Money to Help You Catch up
The Starting Line: A Saving Plan
We always say that careful and smart planning is the first step in doing anything. It must always be the starting line to whatever objective we have in mind. Hence, a good saving plan must be meticulously studied and reviewed. In creating a saving plan, you must first identify your goal on why you are saving. Let’s assume that we all want to start 2016 with a sort of the reserved funds and be debt-free, that’s our main objectives. Knowing what you want makes it easier for you to fit into circumstances and fit your capabilities in achieving your goals. Further, you must determine how much you can save daily or weekly and come up with the appropriate solutions if some problem arises that can affect your saving plan. Lastly, to test whether the saving plan fits your objectives, you must observe and evaluate your progress from time to time to fit into an attainable process and scheme.
Cut down your Expensive Lifestyle
If you didn’t list your daily expenses and you suddenly check your bank account, you’ll wonder where the large sum of your money went. Thus, looking back on your activities will make you realize that your lifestyle is on the expensive side.
Here are some unnecessary luxuries you didn’t know that’s hurting your bank account:
1. Coffee Shops
Making your own coffee will save you a lot of cash. Avoid making that stop on your favorite coffee shop for an expensive latte or cappuccino. It’s more exciting to drink your own brewed coffee that will obviously satisfy your taste.
2. Vending Machines
If you have an automatic impulse insert money on vending machines to buy bottled water, your favorite drink, and snacks, then you cannot save money that much. Bringing your own drinks and snacks is a much cheaper and healthier option without sacrificing your thirst and craving. Further, this will save you money in the long run.
As it is smart-looking and trendy as you cross the street with newspaper on your hand, do you read it from cover to cover every day? I’m afraid not. There are a lot of news website that offers up-to-date news and opinions on social issues. Most newspapers also have some online counterparts, so you can be updated with the latest events by just by one click and better yet, you’ll not be spending a single dime.
Budget Overboard Not Allowed
We often see the street sign “Skateboarding Not Allowed”, but when it comes to personal finances, budget overboard is a mortal sin. In saving, you must stick with your allowable budget. Set the rules and never break it. It takes a lot of guts to be able to pull it through, but speaking of long-term goals, you can have the cream of the crop. Thus, sticking on a budget will take us into a disciplined and financial state of mind.
Saving is a Habit!
Make the statement above as a sort of a mantra that you repeatedly recite inside your head. Saving up before the year ends seems to be a challenging task, but it’s achievable. A right mindset mixed with discipline are your primary weapons to practice the skill of saving up. Now, don’t forget to say or write the mantra, saving is a habit, saving is a habit, saving is a habit, saving is a habit…..
Try the Piggy Bank and the Jar Method
Don’t underestimate the power of the Piggy bank and the Coin jar. You just have to unleash it by putting up loose change on them whenever possible. Time will come that they’ll be full and you’ll be surprised on how the total amount can help with your finances. Of course, aside from your loose change, you can plan to put an allocated amount of them every day to make the method more effective and beneficial on your pockets.
Be the Practical Frugal
Being frugal doesn’t mean you’ll turn into an extreme cheapskate. It’s not the case, you will not cut your own hair or recycled paper towels and search for fallen coins on the streets. What I mean about being practical frugal is that you must always find a way to save money in every activity that you do. It’s a “Save as You Can” lifestyle that will definitely benefit you in the future. The practical frugal doesn’t sacrifice quality and quantity of purchase and expenses, but they always make an affordable way to do it.
Save Up More with a Debt-Free Plan
It’s good to know that you’re determined to have savings as 2015 ends. Your next step is make saving up more effective by paying off your debts. Do you have a debt-free plan? If you have something in mind or you’re looking for an expert financial advice about it, Financial Rescue LLC can help you out with debt settlement programs. Our certified debt consultants offer no-charge, no-obligation consultation for people you wants to be debt –free. Call us now at 1-877-97-33287 and attain financial freedom soon!