Practical Ways to Spend and Save Your Money

Practical Ways to Spend and Save Your Money

A lot of the times, saving your money becomes increasingly difficult each time you simply try to take the first step. Here’s a definitive guide to motivate you to do exactly that.

The first misconception about saving money is that it starts and stops at just saving it. The truth about saving money is that you need to learn how to spend your money wisely first, more than saving it. This means that you develop a set of habits that are progressing towards your ultimate goal of actually saving money.

It is understandably hectic to make a big purchase like buying an apartment or a car, only to have that bill be the deciding factor for months or sometimes years of your life to revolve around. To change this, you need to add some behavioural changes to your everyday life. That doesn’t mean that you cant splurge on some occasional luxuries. After all, it’s your hard-earned money, and you should experience the joy of it (consciously!)

Setting aside cash can be testing, and a few methodologies are more reasonable than others, yet blaming it on sheer laziness and apathy is genuinely unsatisfactory! While assigning a zero-spending month is surely one approach to ensure that you save your money, consider the following tips to still save your money without being too hard on yourself.

Treat your savings account as an actual bill

The secret to adequately saving money is to treat it like some other bill: an essential instalment that will push you into difficulty if you don’t pay it. At the point when you pay yourself first, you abstain from squandering surplus assets on superfluous buys that could go towards your emergency funds account or savings account. To rearrange this, mechanize an exchange among checking and savings that compares with payday,. No longer of any concern!

Online Banking

Upon observation, you will notice that you tend to spend significantly more whenever you have hard cash. Switching to online methods of banking will not only keep you aware of each transaction you make, but it will also additionally provide you with offers and occasional money-back policies that will significantly help you keep track of your money and encourage you to spend less and save more.

Online Banking

Grocery shopping

You would be appaled with how much you spend every month for just your groceries. According to a recent study, Americans spend close to $700 on their groceries per month! Supermarkets are designed in a way that their customers not only get their essentials but spend unnecessarily on novelty and extravagant products. Next time you go to the supermarket, think about whether you really need an extra pair of tongs just because the ones you have at home don’t have the unnecessary and additional features that the one in the supermarket has. Also, remember to stack up on coupons and make use of them.

Review your Expenses

During the end of each month, sit down and calculate your total expenditure. This exercise will not only make you mindful of your spending but also give you an estimate of how much you can afford to save.

In addition to this, there are several more ways to save. They are:

  1. Spending your bonus and other extra incomes wisely and consciously
  2. Cut back on energy consumption (also protects the environment!)
  3. Adopt the 24-hour rule. Lay off any spending for a whole day before finalizing on it. This will ensure that you only buy what you truly need.
  4. Plan and schedule your splurges.
  5. Avoid spending on branded items, buy more generic.
  6. Invest your time in more DIYs
  7. Sell everything that doesn’t serve any purpose to you and don’t give you much joy.


You can stop the pattern of living check to check in a conscious way: Make a zero-based spending plan before the month starts. A financial plan is tied in with being purposeful. It encourages you to make an arrangement so you can see where your money is proceeding to discover the amount you can save every month. At the point when you make a zero-based financial plan, you’re giving every dollar a name—before you save or spend it. Keep in mind: It truly doesn’t make a difference how much money you make—it makes a difference how you go through and save the money you make.

Holly Moore