Money Matters: 5 Tips for Smarter Saving

It doesn’t matter how much money you make; everyone is at risk of spending
their money poorly. If you want to sit comfortably with your finances, however,
saving is the key.

According to CNBC, approximately one-quarter of Americans have more debt
than savings, yet even more people still owe money to creditors. If you’re one
of these people, then consider these five tips toward smarter saving.

1. Create a Budget

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Image via Flickr by Tax Credits

No matter where you go for your money-saving tips, you’ve likely seen this
tip before, and that’s because creating a budget is crucial toward saving
money. Look at how much your most important bills
cost; factor these into your budget first. Next, consider where else you spend
money, including how much of each paycheck you want to set aside for savings.
If your spending amount exceed the amount of money you make, look for ways to
cut back. Once you’ve evaluated your financial situation, create a realistic
budget that works with your income and your spending habits.

2. Set Up an Emergency Fund

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Image via Flickr by Tax Credits

After a budget, setting up an emergency fund is perhaps the most important
part of saving money. If you don’t already have a savings account, open an
account that is specific for emergencies. When actually saving money, there are
several techniques that you can use, including the following methods:

  • Decide on a specific amount of money that could get you
    through several months without an income. Continue to put money into the
    account until you’ve reached this set amount.
  • Choose a percentage of each paycheck that you’ll put
    into savings. A good rule of thumb is to set aside 10 percent of each pay
    check. This technique is a great way to continuously expand your savings
    while you can still afford the rest of life’s costs.
  • Set aside a specific amount of each paycheck. This
    method is perhaps the best for helping you budget the same each month.

3. Consider Where
to Cut Costs

Another important aspect of saving is to avoid spending where you can. When
you actually look at what you spend, the totals might surprise you. For
example, CBSNews reports that people who drink coffee
regularly spend an average of $65 per month or $780 per year just on their
morning coffee. By cutting out small costs like this, you can save a lot of
cash. That $780 per year could easily go toward car repairs, rent, or other
important bills.

4. Skip the Sales

It’s sounds counterintuitive, but skipping the sales can actually help you
save money. This is because sales encourage you to purchase items that you
don’t need, ultimately making you spend money on something you won’t ever use.
Unless you actually need the item, don’t impulse buy
just because you can “save some money.” Spending money is
counterproductive toward saving.

5. Invest

While investing is often risky, it’s a great way to help you save while
increase the amount of your savings. Check out Fisher Investments News for
more information on investing.

These are all excellent tips that can help you save cash, so start
evaluating your spending habits and looking for ways to save.

Comments: 8

  1. Rodney May 26, 2013 at 11:49 pm

    I have labored for around three days now and am “in to the flow” of products. My shyness, uncomfortable being touched, etc. have left.

    However – I have had lots of trouble earning money, especially after tip out. I am not in bad shape and I am a good dancer (not the the best around the pole however i makes it work), and I’ve got a bubbly personality.

    After I offer dances (regardless of how I do it, sometimes they’ll even buy us a drink after which avoid a dance) they are saying “no” or “later” or they “avoid that” (after which later I’ll discover their whereabouts obtaining a dance from the different girl)

    How do i earn more money?

    For individuals individuals who’re only likely to leave hate comments about my insufficient morals, etc. Sometimes three jobs which is my 4th. I accept my parents, hide it from their store, which is to cover my large brother’s drug therapy so he does not become a drug addict again. I’ve my reasons and merely need assistance knowing steps to make a bit more rather than departing with simply 18 or 5 dollars. 🙁

    To include on:

    I’m not a slut, thanks. After I walk inside (since many ballroom dancers will explain) I’m not me, I am a different person. And I understand how to save cash – what I am attempting to do is make more.

    I do not smoke, I do not live by myself, I do not buy my very own food.

    I actually do volunteer, I actually do work on a supermarket, I actually do waitress, I actually do visit school, I actually do ref for campus rec, I actually do purchase my very own books and classes, I actually do purchase my large siblings therapy, I actually do pay my very own phone bill, I actually do pay my very own vehicle, I actually do pay my very own insurance.

    Do not play down me like a person, I already hate myself enough for carrying this out. But I am desperate.

  2. Jeanette May 28, 2013 at 2:11 pm

    We’ve began toilet training our 16 month old daughter . She’s all the “ready signs ” we’ve talked about this subject together with her Doctor and she or he states go for this . I only say this to face up to anybody from mentioning that they is simply too youthful . She’s already urinated within the adult toilet 5 occasions by 50 percent days . She’s very wise and it has been very pround of herself . I should also stress that we’re very gentle with this particular matter . We’re not pushing her into anything . She’s very excited to sit down around the toilet and pee . I’m curious about the benefits and drawbacks of utilizing a potty chair versus an place for that adult toilet . Any potty tips could be useful . Additionally , did anybody let their toddler play naked to help ease training ? How did which go ? Did anybody place the potty chair anywhere apart from the restroom for simpler access ? Please only loving solutions !

  3. Tamatha May 30, 2013 at 5:50 am

    Does anybody have tips besides heated water containers or electrolytes? I’ve not attempted electrolytes yet.

    Last winter my 29 years old pony got impaction colic 5 occasions from not consuming enough. He was mildly influenced again yesterday since the weather all of a sudden switched cooler (temp fell from 60 each morning towards the 40’s by noon). I did not need to call the vet this time around, but I’d rather not maintain for an additional winter like this past year, and I would like him to outlive another winter (or even more).

    He eats senior feed, and that i add water to each meal. I am obtaining a heated bucket for him additionally towards the tank heater for outdoors, but can there be other things can one do?

  4. Taneka June 27, 2013 at 10:33 pm

    i am 24 yrs old, 5’1″ & 94 pounds, i look as with every other asian girl (to whitened males i suppose . do you know us apart? lol ) also i am a virgin and im saving myself in my husband to be. i’d describe myself like a nice person, wise, pretty and i wish to make my hubby happy and so i consider using any means for him inside and outisde the bed room. my personal favorite kind of whitened guy is older and it has a great job along with a house . how do i be appealing to them? what characteristics will they want inside a wife? (remember i consider using any means to obtain a whitened guy ! whatever needs doing !! ) and so i know , about being submissive, also always being nice for your husband, always smiling and sweet , making nice food for him, keeping the home clean, rather than saying no thanks to as he really wants to have s*x…. can there be other things??? no rude solutions plz .. thanks

  5. Christian July 30, 2013 at 6:11 am

    I’m 19 and searching to obtain an apprenticeship having a top end vehicle company. I Understand the majority of the fundamentals with cars i understand how they work etc, I’ve done a couple of cars with my older brother who works part-time in a garage however i need anyone to produce some suggestions on your garage. Just things will be able to learn prior to going to have an apprenticeship Such things as Always disconnecting the negative terminal around the battery first, and putting the wheel nuts on in opposites to align the wheel correctly. A kind of 10 rules to be a vehicle auto technician. All solutions could be greatly appreciated.

  6. Henry August 2, 2013 at 5:12 pm

    I’m saving my money to purchase the iPad2 but had some questions.

    I curently have an apple iphone, your personal computer laptop, as well as an amazon . com kindle. I’m wondering if it’s still worthwhile to buy the iPad. Personally, i think that it’s still worthwhile and so i it’s still saving but am still wondering why or why don’t you its worthwhile.

    Anyway, regarding my questions:

    -Just how much would a 16/32 gb ipad be regularly/on black friday (where)

    -where is the greatest spot to buy the iPad (cheapest cost)

    -The number of gb’s must i get/ I’m determining bewteen the 16 and 32. Do you want 32? Is 16 okay or would 32 be much better and price it your money can buy?

    -Also please let me know your input, solutions, ideas, tips, and opinions on everything iPad!!!

    -Is also it worthwhile to obtain the wise cover? (the apple one) Otherwise what’s the cover you recomend (please turn it into a reasonable cost) Thanks

    Thanks 🙂

  7. Henry September 22, 2013 at 7:31 am

    In senior high school I did not work very difficult.

    Mostly since i were built with a bad work ethic, however i also battled with depression, insomnia, coupled with lots of difficulty remaining focused within my classes.

    Since than, I required a rest from soccer practice for any year (while going for a couple art classes) to know things i wanted with existence, and also to simply cut costs. I labored two jobs until I acquired marketed to some management position inside my second job. This helped me understand that I am an very hard worker and that i have potential. I required a few classes in the college however i wasn’t exactly modified and so i passed one class by having an A and something having a C.

    Even though in writing I have done poorly, I understand that I am a wise person. You will find couple of a few things i love a lot more than reading through a bestseller, also it eventually ends up.. I really like challenging myself.

    In my opinion I have created a couple of improper habits with time and may get distracted… however i determine if I prioritize time better I could be a great student, and hopefully break individuals improper habits.

    So, now you be aware of background I’ve two questions:

    1. Have you got any tips or methods for remaining focused?

    2. What is the way I’m able to enter into a condition college using what I have got? I’d in regards to a 2.5 gpa in hs. Basically go ahead and take ACT and obtain an excellent score have i got an improved chance? (I did not absorb it hs since i did not want to handle the sense of failure that will inevitably follow obtaining the results.)

    Thanks a lot for searching only at that! Tell me any tales, links, or advice you’ve!

  8. Marg November 20, 2013 at 12:57 am

    Also comment some suggestions or info, i understand how to ride bikea very good, but im 5’10 176 what will be the wise race bike size for me personally. And does it need to be considered a certain year? MX racing btw

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