Five Tips on How to Save Money

At some point in our lives we all need to save some money, but the tricky part is figuring out a way to actually achieve your goal. Whether you are saving up for a big holiday or something smaller like a video game, these suggestions might just work for you!

Don’t Shop When You’re Hungry

Always go to the supermarket when you have just eaten, or at least not when you’re about to have a meal. When you’re hungry, you’re more likely to give in to impulse and buy more food, even if you don’t necessarily need it. If you make sure that your stomach is content before walking into a shop full of food, you should be able to focus on only getting the essentials and therefore save a bit of money.

Use a Budget

Some people are good planners, so writing out a budget to stick to is a great idea to motivate them. Look at your weekly income and expenses, and determine what you will have left over. Instead of using this money to buy more clothes or books, dedicate it towards your savings account. If that is too difficult, then set aside a small portion for your extra spending and ensure that the rest goes to your savings; no exceptions!

Eat In, Not Out

A great way to save money is to cook at home instead of eating at a restaurant or getting takeaways. Buy some local fresh produce and start creating some healthy and flavoursome meals instead of giving all of your cash to restaurants. If you’re looking for some suggestions on how to cook something delicious, then check out Mibba’s recipe section!

Take Advantage of Discounts

If you buy a lot of one particular item, or something you need is rather expensive, try waiting until it is discounted before you purchase it. For example, if it is a type of food that has a long expiry, then buy a few packets to tide you over until the next sale. Coupons are also an easy way to save, so keep an eye out for them! Whether it is food or clothes or anything in between, not paying the full price will put some extra dollars into your savings account.

Save in Other Areas

Perhaps you are a fan of long showers or you have a gym membership, but these things also cost you money, and it might be more than you realise. Reduce your shower time to lessen your hot water bill, and go jogging in the park instead of heading to the gym. Look at other areas of your life to see where you can cut out extra costs and then devote this money towards your savings.

Saving money isn’t always easy, especially when it means taking away treats or cutting out something you enjoy, but keep in mind your end goal. Why are you saving money and how happy will you be when you achieve that? Combine your motivation with these tips and watch your savings account grow!

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