Managing your budget might be a difficult task. Sometimes, we can easily extend our expenses beyond our budget, and there is when the nightmare starts.
Not having savings under your sleeve might as well be tricky when you need them.
Viral Strange will list 3 ways to quickly save lots of cash on the side.
1. Buy and save
Not only it helps in keeping track of your expenses, but this method also allows you to put aside a percentage of every purchase you make.
How? Let’s take an example…
You will put aside 10% for every purchase you make.
If a new shirt costs $30, it will give you $3.
Do this for everything you buy or only for big purchases. You decide.
At the end of the year, you will have good money put aside.
It can be easier if you have a credit card because many banks can offer to save an amount of money from every purchase.
2. Saving in stages
You will save lots of money in only 52 weeks!
How? Read below…
Start the first week by putting aside $5, for example.
Next week put some more. $10, for example.
Go on doing this each coming week by increasing the amount of money you put aside. By the end of the year, you will have saved $6,890.
You can use this method by putting money aside monthly, too. The trick is that whether you do it weekly or monthly, you must do it regularly.
3. Turning bad habits into savings
This method will get you more money on the side and might also help you get rid of some bad habits if you get fully aware. You will put aside a fixed amount of cash for each bad habit you have.
How? It is easy!
If you are constantly skipping the gym, you put aside $5. If you are late for work, you put $20 on the side as a fine.
So, for each bad habit, you can decide an amount as a fine, and whenever you act on them, put that cash aside.
Would you practice any of these tricks? What else do you do to save money? Tell us more in the comments!