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Tips on how to Save Money

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Spending money is very easy, while saving it take some discipline and skill. In this article we try to cover some tips of how you can save money. Saving money can be split into two main parts, the first part is saving more, the second part is spending less. If you control these two, you will end up with more money in your savings account.

Saving Money!

Too obvious, right? Yes, if you want to save money, you need to start saving. Ideally you decide on a monthly budget that you can commit to, and you save that amount of money monthly with no exceptions! This will help you discipline yourself and stay away from buying stuff you do not really need.

Limit Online Betting

Spending money on gambling is also costly. If you are spending too much money on it, then you should seek help to save some money on this cost. A website that provides such help is begambleaware.org. If you only bet to have fun and you feel that your betting habits are not addictive, try to play on sites that offer bonuses so you can take more value for the money you spend, as explained in this article.

Need vs. Want – What’s the Difference?

Another big part of reducing the monthly spending is by you disciplining yourself before buying something by asking a simple question, is this a need or just a want? An extreme example would be food, which is a need, vs. buying another pair of shoes (assuming you have many shoes at home) which in that case would make it a want. We obviously need to fulfil our desires but becoming aware of the differences between a need and a want is the first step of controlling the cost of the wants. If you see something you want to buy, wait a bit, at least a few weeks. If you still want it after the waiting time, get it. This will eliminate any cost on superficial wants while helping you make informed decisions!

Create Goals!

Like anything in life, creating a goal of what you want to achieve help you get there easier. Same goes for savings. Planning how much money you want to save, why you want to save it, and by when, will help you plan better your monthly savings and ultimately achieving your saving goals.

Recycle

This tip can also help you save money (and save the environment!). We all have a room or a garage with some old furniture or tools. Before buying anything new, check what you have put aside along the years, is there anything you can recycle before you buy anything new? This website can help you learn more about how to recycle and save money!

 

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