4 Realistic Tips To Save You Money

Hi loves! Today, I’ll be sharing 4 realistic tips to save you money. Saving money is a hard thing to do especially during this time of the coronavirus. Just think! If you had set a plan to save money prior to this pandemic maybe we wouldn’t be trying to make ends meet, trying to figure out where our next paycheck is coming from.

I understand some people don’t have it as easy as others, but we can all attempt to save money no matter what we do or the bills we have. Everyone can save it is just a matter of commitment and perseverance. I’ll be sharing my 4 realistic tips to save you money and get you started.

Expenses

First, look at your expenses. Do you really need to spend about $20-$30 a week on coffee? Going out as much as you do? As a financial advisor, I see how much people really spend on frivolous things so take an honest look at your expenses.

I bet there is a good $20 a week you can put away into a savings account to start building. $20 per week is $100 a month and then $1200 a year. Imagine after 3 years, it’s $3,600 and that’s just the basic savings of $20 a week. Your expenses can help you get started to a path to save.

Invest In Yourself

In order to save money, you need to be willing to invest in yourself. Every time I get paid, I see how much I need to spend on bills and what’s left over and from that money I determine how much I can transfer over to my savings. Sometimes it’s $20, other times it’s $100.

Investing in a retirement account also helps you have money put away for retirement but if there is an emergency you can actually take out from your retirement account early with certain penalties or loan yourself the money. You can also invest in the market and certain products that are less risky but earn more interest than a basic low interest savings account. 

Credit Cards

I know. I know. They’re dangerous. But there are certain benefits to having them, like getting cash back. You have certain expenses like gas, groceries, dining, etc. that you’ll have to make each month regardless. Why not put them on a card that rewards you for those expenses? The same things you would be buying anyways and taking it out of your checking account.

Why not pay it from the credit card then take the money from your checking account to pay off the card. So now, you have some extra cash from the expenses you have to make and you’re not paying any interest because you’re paying the credit card off in full every month. 

You Just Have To Want It

My realistic tips to save you money all depend on one things… YOU! It’s up to you to save money and secure your future. These are some helpful tips that have helped me saved money over time and many clients of mine. You have to be willing to put the work in and stick to your plan in order to accomplish your goals.

Be honest with yourself. Do all those coffee trips to Starbucks really need to happen? How can you change your behavior to fit your new goals. In order to save money, you need to HAVE A PLAN. PERIOD.

Just going for it, isn’t going to work. In times like this, I’m sure there are plenty of people thinking what they could’ve done to not be living paycheck to paycheck and have some money saved to help ease the burdens they may be facing.

The bright side is you can always start and it’s never too late. If you have any questions on my 4 realistic tips to save you money or need some financial advice just reach out to me in comments or message me in my contact page. 

XOXO

Karen Giuliana