This post will educate you on the top or best ways to save money especially as we nearing the year 2018.
Are you planning on building a house, buying a car, money for health care, for your children welfare, wedding or holiday, you are at the right place cause i will give a detailed guide how to save money or best ways to save money.
Going to the bank every time to physically deposit money is actually a thing of the past.
Saving money is quite easy in this age, thanks to online banking.
Here are the best ways to save money
Best Ways to Save Money
Below are my top 10 best Ways to save money in 2018 for your wedding, holiday, child welfare, health care etc.
1. Set goals. The number one best ways to save money.
Know what you want to save for and use this to set a goal you want to achieve in a time range. Knowing what you are saving for makes the process faster. Also try to do a rough estimate on how much you need to attain your saving goals, coming up with a monthly savings plan and giving yourself a deadline.
2. Request for an automatic deposit
This is where online banking comes in. Set up an automatic deposit to your savings account from the account your salary is paid into. So automatically at the end of every month part of your income is transferred into your savings account.
3. Bill yourself.
Consider saving money by billing yourself or paying a service.Make it an obligation that at the end of every month, you’ll put a certain amount of money into your savings account.
4. Reward yourself.
To make saving very easy for you, you can decide to reward yourself every time you achieve your saving goals.After every achievement reward yourself, get something for yourself or just treat yourself to something nice. Not something too expensive and won’t affect your savings.
5. Limit transaction on your debit card
People tend to spend more when they are with their debit cards, though it is good to have your atm card on you all the time, you really don’t know when an emergency might come up. But place a limit on how you make use of your debit card. Discipline yourself when it comes to using an atm card for transactions. A good way to limit transactions with your atm card is having another debit card you take out with you which doesn’t have so much money on it, which makes you spend less.
6. Avoid Big Parties.
Yes, I said it. A big party is not needed for every occasion. For example, throwing a party for a one year old (who might sleep through the event) is not too necessary in my opinion. The money can be saved towards taking care of the child. Bottom line is, big parties have to be cut down . Not like the price of a bag of rice is helping matters.
7. Reduce online shopping.
Reducing online shopping is one if key or best ways to save money. If there’s a shop close by that sells same item you want to buy online, visit that shop. There is a 95% chance things will be cheaper in a physical store. Unless of course, you find a better deal online.
8. Cut Back on the Unnecessary. Now that you see clearly what you have been spending money on, it becomes easier to make necessary changes here and there. This is where you ask yourself questions like ‘Do I absolutely need this?’ ‘Can I get a better deal on this elsewhere?’ Be very truthful with yourself because this is where you review what you can do without. Make a list of those things you can do without and those things you cannot.
9. Utilize savings accounts. Although you can make use regular savings accounts, there are financial institutions that provide accounts which go beyond this. They have higher interest rates than the regular savings account and help you save better.
10. Pay Off Your Credit Card.
The last but not least ways to save money. If you’re not paying off your credit card balance each month you’re paying interest and, for most Americans, it’s at a pretty steep rate. Pay this debt off and you could save a tidy sum by eliminating your interest charges.
These are the best ways to save money, and if you have other tips to add to your this, i will appreciate it a lot.