It’s very hard, if not impossible, to get by in this world without money. It seems there’s always something that’s about to cost you – a big purchase coming up, monthly bills, or those surprises that seem to zap your bank account when you least expect it. While you could try to pick up an extra job or sell some things you no longer need, sometimes the best way to save up some cash is to just use less of it.
Here are some ways to lower your spending:
- Track: Some people find tracking spending to be a hassle. The goal is to bring a notebook or use a tracking app to keep a record of all your spending for a month. Then you can look at where you’re spending more than necessary. You may also notice a pattern of spending when you’re stressed or over doing it when you go out to happy hour after work. No matter where your money goes, there’s bound to be a place where you can tighten things up.
- Wait: If you think you need something, wait. If you see the perfect item, wait. If something breaks, wait. By delaying gratification and really thinking about your purchases, you may find you don’t really need that item after all. Perhaps you can borrow something similar or make do with what you have. If it turns out that item is the perfect, necessary thing, look to see if you can get it cheaper elsewhere or if you can wait a little bit longer and pay a lower shipping charge.
- Unsubscribe: Do you get tons of emails letting you know about sales and specials? Unsubscribe! Those messages are designed to trigger your desire to acquire new things and they seek to convince you that you need to buy now. Remember the last tip? Things will go on sale again. When you only go shopping when you determine a real need, you’re less likely to make impulse purchases.
- Make a list: This goes with the previous item. When you need to shop, whether for food, clothing, household goods, or anything, make a list and then stick to it. Determine what you need before you leave the house and don’t go rogue! If something catches your eye, jot it down and save it for a future trip… if you still need it!
Whether you’re saving for a down payment, slashing expenses to make monthly payments, or building an emergency fund for those unexpected repairs, saving up for a car is no different than saving for anything else. If you need auto financing but your credit is keeping you from getting approved, CreditYes can help! Through our bad credit auto loan program, we can match you with a dealership in your area that can be with you every step of the way. Our service is fast and free. Fill out our secure online application and get behind the wheel of your next car today.