Everyone wants to save money. But not everyone succeeds. You feel eager to start, but it’s so easy to lose motivation simply because it gets difficult over time. There are thousands of tips on how to cut your expenses, but usually, they require extra effort.
If you find trying to save money too tiring, you have come to the right place. Here are 4 ways that will help you to save money without thinking too much about it.
Interested? Let’s look over them.
Track your expenses
Generally, it’s advised to set a budget and stick to it. That is a good way to save money. But it can get stressful if you start overthinking how much buying one thing or another will affect your budget. It’s better to start by tracking your expenses.
Do you know how much money you spend per month? Probably, not exactly. That’s why it’s useful to mark each expense to have a bigger picture. Once you see where your money goes with your own eyes, it’ll be easier to cut the costs you don’t really need.
Choose a service you need, not a big name
Nowadays it’s so easy to get lost among all the popular brands and the goods or services they offer. Of course, you’ll want to get an item or a service from a company that you’ve heard of. But sometimes a big name comes with extra cost without additional value.
Let’s say you’re shipping to Russia from the USA. Instead of selecting the most well-known carrier, you can research the market and choose the company that matches your needs the best. Even if it’s a small name. Chances are that you’ll get the same service without paying more for the brand.
The same goes for any other kind of service or item you’d like to get. If you avoid chasing big names, you’ll stop paying extra for the brand only. It’ll help to save money in the long run.
Pay with cash instead of a credit card
One swipe and the purchase is completed! You’ll be surprised what kind of impact using a credit card may have on your expenses. People actually tend to spend more when paying with credit cards compared to cash.
The explanation is simple. When you pay with a credit card, you don’t really see the sum of money until the bill comes at the end of the month. And when you pay with cash, you’ll be reluctant to give up the same sum of money simply because you can see it and even physically touch it.
It’s a great psychological tactic to trick yourself into spending less. So switch to cash for daily expenses.
Optimize Your Paycheck
As odd as it sounds, you can adjust your take-home pay to suit your life—via the W-4 form you filed with your employer upon being hired. This form tells your employer how much to withhold from your take-home pay based on the number of allowances/exemptions you claim.
Therefore, if you have a life change—such as a new baby—or perhaps you’d simply like to claim zero allowances to reduce your overall tax bill, you can do this by adjusting your W-4 form. You can use this 2022 W4 calculator to get a better idea of how different withholding scenarios will impact your paycheck.
Saving money requires some effort. But if you follow these tips, it’ll feel as if you’re doing it without actually trying.
Speaks from heart, always too passionate and driven by emotions. Spins the words with kindness & sharpness, intriguing your ever-inscrutable minds.