How To Save Money And Loan Consolidation

An inquiry is one of the tasks that is easier said than done. But you can do a lot of things to spend less money (although it can be difficult for you too). How much money do you want to save, where will you put it and how will you ensure that they stay in this place? Here’s how to set realistic goals, pay attention to your spending, and get the most out of your money.

1.
Get rid of debts. Simply calculate how much you will spend on debts each month and you will find that getting rid of them is the easiest way to make money. Once you have your debts paid off, you can easily focus on the inquiry. In addition, the sooner you are debt free, the less interest you will pay and you will be able to save that money as well.

2.
If you want to start saving before you pay off all your debts, try to find out something about consolidating loans so that you don’t have to pay such high interest rates.

The only inquiry you should do before paying off your debts is a contingency fund (you should have enough money aside to survive 3-6 months if you suddenly lose your job). If you do not already have such a fund, you should set it up immediately and save all the remaining money there.

3.
Set your survey goals. It’s easy for short-term goals – if you want to buy a video game, find out how much it costs and determine how much you’ll put aside. For longer-term goals, such as retirement savings, it’s harder, you’ll need to plan better (find out how much money you’ll need to live comfortably for 20-30 years when you stop working) and you’ll also need to figure out how you can invest. to achieve these goals.

4.
Set a time limit. For example, “I want to buy a house in two years from now.” Also set data for shorter-term goals and make sure that your goal is realistically achievable. If you identify something that cannot be done, you will soon give it up.

5.
Find out how much you need to save each week, each month or from each paycheck you receive. Think about every thing you want to save on and determine how much you need to start setting aside. For example, if you want to make a deposit for a house of $300,000 in three years, you will have to save at least $1,000 every month. But if you’re making $2,000 at work, it’s probably not a realistic goal, so set a time limit so you have a chance to reach your goal.

6.
Keep records of your expenses. What you save is the difference between what you earn and what you spend – that is, between how much you have and how much you have to give away. Because you can adjust your expenses more easily than your income, let’s focus on them. Write down everything you spend money on each month. Be detailed and try not to miss any small purchases. Assign a category to each expense, for example: rent, food, entertainment, gasoline payments, telephone payments, energy payments, etc.

Keep a small diary where you write down all these things. Get in the habit of writing down even the smallest expenses and hiding your receipts.
Once a month, sit down with your diary and receipts. Write down all expenses in a larger diary or in a file on your computer.
There are many mobile apps to help you keep track of your expenses.

7.
Limit your expenses. Focus well on the amount of money you have spent in the last month. You will surely be surprised to find out what your expenses were – for example, $40 for ice cream or $30 for parking tickets. You will probably already see items where you can save something. Depending on how much you want to save, you should seriously decide. Think about your priorities and try to reduce your spending so that you don’t have to make big compromises. calculate how much these small changes will save you per year and you will have much more motivation.

For example, can you move to a cheaper sublease or refinance your mortgage?
Can you save something on petrol or give up cars altogether? If you have more cars in your family, you can reduce their number and save a lot of money.
Can you buy better insurance? Call an insurance company and find out which one can offer you the best price. Also, try to deduct various items from your taxes.
Shop at discounts. You can buy a lot of clothes with up to 50% discounts.
Can you get rid of a landline and use only a mobile phone, or save by calling via Skype, for example?
Can you live without cable or satellite TV?
Can you reduce your energy payments?
Can you limit eating in restaurants? Try to buy food in large quantities or use different coupons. Do you cook at home? Maybe you can save a lot of money by making smarter purchases.

8.
Rethink your savings goals. Deduct your expenses (those you can’t limit) from your income (after tax). What’s your number? Does it match your goals? Let’s say you can come up with $3,000 per month and your monthly income is $4,500. So you have about $1,500 which you can save every month. If there is no way to reconcile your survey with your income, focus on the things you want to save and get rid of the less important ones, or adjust the time limit. You may have to postpone buying a new car for another year, or you’ll find that you don’t really need that big TV.

9.
Make a budget. Once you’ve managed to compare your income with your savings goals and expenses, create a budget so you know how much you can spend each month on things in each category. This is especially important when spending is changing or when you know it will be difficult for you to reduce it. (Eg “I spend only $50 per month for chocolate / cinema / coffee, etc.”).

10.
Stop using credit cards. Pay for everything in cash, don’t even use checks. When you pay by card or check, it’s easier to spend more because you don’t know exactly how much money you have there. You may even exceed your credit card limit. Try to buy a special money box for each expense (eg a petrol cash register, a sweet cash register, etc.). If you only take money from the right treasure chest, you will always know how much you have left.

If you need credit cards but don’t want to be tempted to use them, keep them deep in your wallet and have a piece of paper reminding you of your efforts to save.
Credit cards are not downright bad, it’s all about self-control. If you can’t use them responsibly (ie at the end of the month to cover all your expenses), they can make your life a lot easier. But most banks make money on credit cards because people end up spending more anyway than they should. If you are not one of those who always pay what they have to do at the end of the month, it will be best if you miss out on the benefits of credit cards (such as extra money or free tickets).

11.
Open a savings account with good interest. Separating the money saved from the others will make it easier for you to keep an eye on your spending. You can always find a good account with a favorable interest rate (there is usually no interest on a current account).

12.
Pay yourself first. Saving should be your priority, so you should not say that you only save what you have left at the end of the month. Deposit your saved money into the account as soon as you receive the payout. Simply start by depositing 10% of each amount spent in a savings account. For example, if you receive $1,800 you take $180 and deposit them into your account. It works great and in a few years you will have saved a large amount of money.

You can set up a standing order from your account to your savings account. You choose the percentage amount that you will automatically send to the savings account each month. The advantage of this model is that you always save the same amount of money as you make.
Many employers allow you to deduct savings from pay. The money is therefore deposited directly by the employer into your savings account, so you will receive a payment that you can already spend in full.

13.
Don’t get discouraged and don’t give up. You may not think you can never be rich, but it is possible to become a millionaire if you set a firm plan of inquiry and stick to it. You may be surprised at how much money you end up with due to a long-term investigation. It often pays to wait for good things, and the longer you save, the more you will enjoy your savings later.

Money Savings Tips

If you receive unexpected money, save most of it in a savings account, but still put your regular savings there. You will reach your goals sooner.
Even if you really want something, do you really need it? Mostly you will find that you can live without it.
Most people save something no matter what their income. Start slowly, but gradually get used to the investigation. Even if you set aside only $ 200 each month, for example, you will learn that you don’t need as much money to live as you think.
Shop for banknotes and store change in one place. Get a piggy bank, for example. Coins may seem irrelevant to you, but saving them can help you a lot. Some banks will now recalculate your money for free. If you have them exchanged, you should have them paid by check or bank transfer so that you do not have to spend the newly acquired money quickly again.
Take care of your property and take good care of your belongings. You won’t have to buy new ones often. For example, if your electric toothbrush stops working, you can continue to use it or see if it is still under warranty.
Always overestimate your expenses and underestimate your income.
Whenever you want to buy something, remember your savings and try to calculate how much money it would cost from your total amount saved – often you end up deciding it’s not worth it.
Use affirmations. For example, keep repeating “debts are inadmissible” until it gets fixed in your head.
Enjoy the little things. During the Great Depression, people in the United States were still able to have fun, even though they didn’t spend money on it. The children played with boxes of soap, the teenagers held dance competitions, and they all played Monopolies, put together puzzles, read and listened to the radio. Meet with friends and chat, play poker, or play musical instruments. It took creativity at the time, but everyone had fun without having to go to the malls, so you can do it too. Many of the friendships that were formed during the Great Depression last to this day.
If you pay the same amount of money regularly and it is easier to create a reasonable budget over time. But if your income is different, it will be harder to predict what your expenses will be, because you won’t know when you’ll get some money again. Write down the categories of your budget according to importance and first address those important things. Don’t take any chances and rather assume you won’t see any more money.
If you can’t cancel all your credit cards, at least put them on ice. Put them in a box, fill them with water and put them in the freezer. Whenever you feel like using the card, you will have to wait for the ice to melt and you may change your mind in the meantime.
Do you have a hobby? Balance it in your savings. The golden rule should be that if you have any hobbies (airplane models, newspaper clippings, cycling, diving, etc.), you should save the same amount of money you spend on your hobbies. For example, if you buy shoes for $80 you must also deposit another $80 into your savings account. Are you serious about the investigation? So double this amount! It will help you in two things: you will save faster and more regularly and you will have a good overview of how much you spend.
If you can afford to share your stuff with people, such as renting living space to someone, do it. When you help your friends, it will come back to them from them, because they will also be happy to help you.

Money Savings Warnings

If you screw it up and spend a lot of money, don’t blame yourself. But after the next payout, try to fix it!
If you are not really desperate (you are not at risk of eviction and your three children are not hungry), do not try to save your health. Take care of yourself, your family and your pets. When you postpone health care, you will face worse problems later.
After a long week of working, you may want to enjoy it luxuriously and say you deserve it. But remember, the things you buy are not gifts for you, only products exchanged for money. Say to yourself, “I deserve it, but can I afford it? If I can’t afford it, it doesn’t matter, I’d rather keep my savings goals instead.”
Don’t just go shopping in stores when you have some money with you. You will want to spend money that you cannot afford to lose. Always shop with a well-compiled shopping list.
If you often go out with friends and spend money on drinks and food, you’ll need to find an excuse so you don’t have to go out so often.