Ways to save money: Be frugal.

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Ways to save money

Learn how to live within your means

We all want to save money. And whether it’s by denying yourself that $4 mocha latte once a week or putting off an exotic family vacation, everyone has their way to save.

But what if you could do both? What if you could cut your spending and still have the luxury of saving for something big like retirement? Well, there are ways to make this happen. Here are ten tips on how to save more while also enjoying life: Start with minor changes. If you’re looking to start cutting back on expenses, don’t try to tackle everything at once. Instead, focus on one area where you can see savings right away.

Ways to save money are: Eliminate Your Debt

If you have credit card debt and student loan debt, then you’re probably not saving any money at this point. But if you’ve got no more than three months of living expenses saved up for emergencies, then you can start paying down those debts. Cut Back on Cable TV Cable television costs around $100 per month, but most people don’t watch many cables anyway. If you do decide to cut back, try watching shows online instead.

Set Savings Goals

It may seem like common sense, but setting goals helps us stay motivated when we need to change our lives. If saving money isn’t something you’ve been regularly doing, set small goals to get started.

For example: “I will save 10 percent of my income this year.” Or, if you have more ambitious financial goals, such as buying a home or starting a business, break them down into smaller steps.

Pay Yourself First

When you get paid, automatically transfer some amount to your savings account. This simple step helps you avoid spending any extra cash right away because you’ve already saved part of your paycheck. It also gives you something tangible to show for your hard work, making you more likely to keep working toward your goals.

Use Coupons & Sales

Coupon clipping services like RetailMeNot help you nd deals at stores where you shop regularly.

Take a “Staycation”

Instead of going away this summer, why not stay home and enjoy some quality time together as a family? You could take advantage of lower airfare prices during the school break months and book flights t o visit friends and relatives instead of traveling somewhere new. Or maybe you’d like to try something different: rent a cabin near a lake or beach where you can relax and unwind without having to worry about trac jams or parking issues.

Spend to Save

Spending less than you earn isn’t always possible, but take advantage of them when you find opportunities to cut back. For example, if you’ve been looking for new furniture, consider buying used items rather than brand new ones. You could also try shopping online for deals like Groupon.com.

Shop Around

Shopping around means comparing prices between stores before making purchases.

Set savings goals

Now that you’ve identified where you want to put your hard-earned dollars, set specific savings goals.

For example, if you need $1,000 to pay down debt, then you’ll need to save at least $50 per week. If you want to build a college fund for your kids, consider setting aside $100 per paycheck toward their education costs.

You can also create a goal based on your current situation. Such as

Short-term payment (1–3 years)

• Save $5,000 toward a down payment on a home Longer-term payment(4+ years)

• Pay off student loans

• Set aside enough money to retire at age 65

Decide on your priorities

Learn how to prioritize your savings goals so you have a clear idea of where to start saving. For example, if you know you’re going to need to replace your car in the near future, you could start putting money away for one now.

Start from saving a small amount

It’s important to start with something achievable. If you’ve never saved before, try setting aside five dollars per week until you reach your goal. Once you hit your target, increase your weekly contribution.

Don’t let fear stop you from starting now!

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