How To Save Money And Stop Paycheck To Paycheck Living

If it’s that special time of the month again when you realize your spending habits are keeping you from living a normal life, you are not alone. It turns out that a whopping 49 percent of people in the USA are not ready to face financial emergency. Plus, a great majority of people worldwide have embraced paycheck-to-paycheck living and are struggling to make both ends meet. But that doesn’t have to be you anymore. If something is pulling you down, it’s never too late to get back on track. Keeping your budget in check and setting aside a few dollars is mission possible. Let me give you some pointers on how to save money like a boss. Let’s go.

Start somewhere

To save money, you actually need to start somewhere. How about you set aside a small amount of cash each and every month? It will vary from person to person. “But hey, how do I do that when I hardly make it to the next payday?” you would ask. It’s really a small amount of money I’m talking about, say, a few dollars. It really depends on your monthly income. Decide how much you can part with and just do it. It’s wise to open a savings account so that you are not tempted to spend the money.

I am not saying you should become socially inactive or keep yourself from buying stuff. Of course, you should live your life. Just make it a habit to put aside a small sum of money every time you get your paycheck. For example, start with $10-$20. Later on, feel free to put aside more greenbacks if your budget allows it. It’s clear that $10 per month won’t hit it big but that’s a beginning. You have got to start somewhere. If you feel confident enough, consider putting aside $$$ of every paycheck. That could be $100, $250, $300 or more.

How to save money like a boss

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Avoid overspending

Spending all you have is a big no-no if you want to save money. Temptations are everywhere but you need to have some self-control. More often than not, we people buy stuff to compensate for loneliness, unhappiness, loss, heartache. We treat ourselves to material things; meanwhile what we really need is not available in stores. Yet, we continue these pursuits because our minds tell us that we have to fill up the deficiencies one way or another. Unfortunately, that’s how we end up with little or no money at the end of every month.

Where you might be overspending:
  • A. Expensive plans. Everybody likes to socialize but that doesn’t mean you have to spend big to quench your thirst for entertainment. There are less expensive ways to have fun or hang out with your friends. Forget about finest clubs or exclusive restaurants. Choose to go for a walk with your friends over visiting your favorite club. Opt for dining at home instead of going to a gourmet restaurant. Cooking food does save money. Plus, you know what you are putting on your plate. Also, try out other low-cost types of entertainment.
  • B. Food. Undoubtedly, food is essential for every human being. However, that doesn’t mean you have to buy food in bulks. Always look for discounts and compare prices. Shop at various stores to get the best deals. Steer clear of junk food, as it quickly drains your wallet. Instead of having sushi for dinner twice a week, stick with rice and veggies, soup, lasagna or other inexpensive dishes.
  • C. Clothes. Now, saving money on food is not the only big step to take. An overcrowded wardrobe is a telltale sign that, well, you’ve been buying more clothes than you actually need. This is a great opportunity to sort through your garments and set aside those your don’t wear anymore.

This brings me to my next point, which is…

Sell what you don’t need and save money

Look around. Go through your stuff. Do you use all the things you have? Probably not. Is there anything that you haven’t used in the past few months? Don’t you think it’s high time you got rid of it once and for all? If something doesn’t serve any purpose, other than to use storage space, then it makes no sense to keep it. People don’t like giving up on their stuff. But think about it for a second. Why keep something if you don’t use it? Put it for sale. Not only is it easy cash, but it can help you save money.

Lastly, don’t spend what you don’t have

At times people get bonuses for their hard work. Way to go. However, what many of them do is splurge on stuff before the funds hit their accounts. Whatever happens, don’t go down that way! A big splurge won’t do you any good. Wait until you have the money and then go shopping. Unless the cash has reached you, you just can’t afford to treat yourself to new shoes, books, jacket, handbag or whatever you want to buy. Period.

So, this is how you can save money like a boss and begin your journey to a better life. I’m not going to lie to you, it is not easy to make the first move. It takes discipline, self-control and persistence, but once you get into the habit of putting aside a little something, it will become easier to continue doing it. And before you know it, you’ll have gotten richer. So, good luck!

What other tips can you think of? Feel free to share them in the comments below.

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