The Best Ways to Save Money Every Month

Let’s face it, sometimes it is really hard to save money every month. Not only do you have bills to pay and groceries to get, but there are also those pesky unforeseen issues. We have put together a few tips on the best ways to save money every month. To help you avoid missing a mortgage payment, or missing a bill, and find yourself actually SAVING money.

Discounts on Everything

You would be surprised to find that there are ways to save money every month on almost everything in your home. From grocery coupons to month-to-month car insurance, you can find ways to cut corners and get discounts.

First things first, you can find great discounts and savings with your grocery bill. As prices rise, it is harder and harder to save money on food. Most big chain stores now offer apps that will help you take advantage of digital coupons. Not to mention sending you coupons every other week. You can also make a solid weekly menu for your meals so that you aren’t buying unnecessary things at the grocery store.

Finding ways to cut back on monthly bills is easy as well. You can not only watch how much water you use, but you can make sure to turn off each light when you leave a room. This will lower your electric bill and your water bills significantly.

Last, but not least, it never hurts to ask about discounted rates for EVERYTHING. Are you a veteran? Ask for a military discount. Are you a senior? Ask about a senior’s discount. You would be surprised to find that a lot of places you never thought to offer discounted rates will say yes and ring up ten percent-off.

Budget Each Month

One of the best ways to save money every month is to create a budget for yourself and your family members. Your budget should not only include things like your bills, but also all the ways you spend money during the month.

In order to help you get a good idea, here are a few things you NEED to have in your budget:

• Mortgage/Rent
• Food
• Monthly Bills
• Clothing Allowance
• Household Necessities (cleaning supplies, toilet paper, etc)
• Pet Needs
• One or Two FUN Things
• Emergency Fund

There are, of course, other things you may need to put on your budget. Your budget is personal to your family needs and how much you make as a household.

The ultimate goal for your budget should be to put away at least 20% of your income into savings. This will help you build wealth and keep six to eight months of emergency funds in your savings at all times.

Avoid Unnecessary Spending

Avoid unnecessary spending if you can. No, this doesn’t mean to not go get your latte every morning if that makes you happy. Especially if you have budgeted for it. Unnecessary spending is more along the lines of big ticket items.

So instead of trying to buy a new smart car and wondering “Do smart cars cost more to insure?“, you should be avoiding buying things you don’t need. Do you need a new bike? Is there really a need for a bigger TV in the house? Those kind of spending habits need to be knocked out, ASAP.

Payments and Fees

A big way to save money that most people don’t consider is avoiding overpayments and fees. For instance, there are lots of fees in selling a house. Not to mention bank fees and hidden taxes. Even your trash payments and energy bills can have hidden fees. If you can find those hidden fees, you can save a lot of money. Simply call your bank, or service provider, and you can actually negotiate those charges. If not, learn how to avoid them all together!

Save Money Every Month with These Tips

Though it may feel daunting at times, you can really easily save money every month with these simple tips. From working out a solid budget, to taking out those sneaky hidden fees, you can find ways to cut corners and start saving now.