Money Saving Tips And Your Habits
Habits – we all have them, some are good for us like a morning jog, some not so good for us like smoking. It’s usually the habits that are not so good for our health that are the expensive ones. Investing time, effort and sometimes money in putting a stop to costly habits are a great way to get your savings in order.
An idea would be to open a savings account and decide on what habit you are working towards eliminating. You could find a bank that offers a savings account bonus – this will give you a bonus payment usually once you’ve deposited a certain amount yourself. It’s sort of a reward for your ‘good behavior’ – with regards to your saving and your habit.
Don’t attempt to give up all your habits at once, one at a time to ensure your success.
If smoking is your habit, research online for free or low cost courses or support groups. There are excellent books you can read that have high success rates. Spending a little now to give up will likely be worth it, especially when it comes to an expensive habit like smoking. Deposit by automatic payment into your savings account the amount you would usually spend on cigarettes each week. You’ve proved by continuing smoking that you can afford it – now you can afford to save it instead.
Coffee might be considered more of a necessity than a habit by most, but the habit of buying espresso coffee from a café everyday is a habit. Buy yourself a great looking thermos/travel mug and a packet of good quality instant coffee. The money you’ll save in the first week will pay for your new mug and instant coffee and still have some left over to put into your new savings account.
Alcohol can be a large expense if you enjoy entertaining and going out. You don’t need to cut it out entirely, cutting back will definitely help, but you need to think wisely about what you’re buying – and from where. Paying for drinks in nightclubs and restaurants is far more expensive than from a supermarket or bottle store. Invite your friends over for a few drinks before you go out then have one (or none) while your out and switch to water or juice. When you’re pouring spirits at home invest in a pourer that fits to the top of the bottle to ensure you are not over pouring your drinks. A splash of juice to your evening glass of white wine can taste great and make it go a little further too.
Whatever your habit, chances are there are ways to cut it back that will ultimately save you cash. It is very important to know how to be frugal because you never know when hard times can hit, and you’d want avoid any situations where you’d have to restore your credit. The only way you’ll know for sure is to give it a try.
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