Are you tired of living paycheck to paycheck without any emergency savings to fall back on if needed? If so, there’s no better time than now to overhaul your finances and start meeting your savings goals. Whether you’re struggling to keep food on the table or you’re having a hard time sending your regular Ria Money Transfer to loved ones, here are a few surprisingly easy tips you can try to free up more of your money so you can build up your savings account this year.
- Commit to Regular “Dates” With Your Money
At least once each week, you should commit to having a “date” with your money. If you have a partner who shares in your financial responsibilities, both of you should plan to spend at least a couple of hours each week going over your finances in detail. Here are a few things you should schedule into your money dates:
- Review spending for the week
- Update your budget
- Track your progress toward meeting financial goals
- Identify improvements you need to make and areas where you can cut spending
Keeping yourself accountable for your financial decisions will help you meet your money-saving goals. As you streamline your spending habits, you’ll have a greater ability to put money away and send your monthly international money transfer to family without putting yourself in the red.
- Make Spending Cuts
If you’re struggling to meet your financial obligations, it may be time to make some spending cuts. They may seem painful at first, but you’d be surprised how many things you purchase that you don’t really need. For example, the average American family spends around $165 per month for television and internet. While internet service is basically a necessity if you do any kind of work or research from home, cable is more of a luxury. With free services such as Hulu, and inexpensive streaming services, you may decide that cable is one of the unnecessary items you can cut from your lifestyle and your budget.
Continue analyzing all of the services you receive to determine which are necessary and which can be let go. The decision may be difficult at first, but as you reap the financial rewards, it will be easier to let go of unnecessary luxuries.
- Learn How To DIY
You can save money when things break down if you learn how to fix them yourself. While some things always require the help of a professional, such as electrical problems and serious plumbing issues, other repairs are pretty easy to do yourself.
- Stop Using Snail Mail
If you still deliver mail and packages via regular mail, changing your habits can lead to greater financial freedom over time. While stamps may not seem expensive, they add up quickly if you regularly send mail to others. Save money by sending emails to loved ones instead of birthday cards, and send money online instead of putting it an in envelope and dropping it off at the post office. Instead of sending large packages through the mail, save money by purchasing gifts online and having them delivered directly to the recipient.
- Send Creative Gifts
Buying gifts for others can be expensive, especially if you ship them. As mentioned above, you can choose to have packages delivered directly to recipients to save money. You can also save money by sending thoughtful gifts that aren’t expensive. Homemade gifts, photo books and gift cards are good options. You can also send money abroad with a Ria Money Transfer if you don’t know what the recipient wants.
These surprisingly easy tips don’t take a lot of effort, and anyone can do them. If you’re looking for ways to save money, try one or all of these tips starting today.