If 2016 has been a bumpy ride for you when it comes to finances, then it’s time to turn the wheels this coming year. Saving up has always been difficult (for most people, at least), but if you want to start earning some bucks soon, then it’s time to change things up.
It doesn’t matter whether it’s a 5, 10, 20, 50 or even a 100 dollar bill. Decide which one you will put in your money box every time. For example, whenever you receive 20 AUD whether as a gift or as a change from your local supermarket, keep it and put it in your money box later. Do this for every 20 AUD you get.
If you’re finding the first tip difficult to follow, then this one might work for you better. You can start with putting 1 AUD in your money box the first week, 2 AUD during the second week, 3 AUD during the 3rd, and so on. This makes it easier for you and your pocket as well.
Only bring cash every time you go out unless you need your card. Bringing the exact amount will force you to stick to your budget and will stop you from spending on things that you do not need.
If you have to use your credit card, make sure that you really need it and that you can pay it off after a few weeks or months.
Before making a huge leap and deciding to buy or rent that new expensive apartment, make sure to compute your budget and expenses first.
See if your budget allows it, and how much you will save up if you delay it until you can truly afford it without sacrificing other aspects of your everyday life.
Every payday, make sure to compute your finances and separate your budget for it. Having different stash for your savings, bills, needs, wants, and everyday expenses make it easier for you to save up and prioritize the things that you need instead of just buying the things that you want.
If you REALLY want to save up, then put it in one bank account and forget your pin. Another tip is to not activate your ATM for one checking/savings account, so you can never withdraw from it.
Put the exact amount of money that you need to the other account that you will be using for your everyday spending – that way, you will be forced to live on what you have on that account.
Now that you know these tips, it’s time to plan on buying the necessities like a vehicle for your daily commute to work. Looking for an affordable car is never easy though, let alone one that would allow you to pay through an instalment basis.