(Newswire.net — July, 30, 2013) Phoneix, AZ– Saving money is tough for many. There’s always something that comes up which requires you spending what you were trying to save. You wonder how people can save any money let alone become millionaires with this economy (Mike Dillard is one who did just that). You may not realize it, but there are ways to save money. However, it will require you to make some sacrifices. Below are some of the ways:
Keep track of your budget: Before you do anything sit down and figure out where your money goes during the month. Even if you do not know the exact amount you can always round/estimate it. You just want to have some idea to work with. From there write a chart for things you have to pay (such as bills and loans) to things that you can scale back on (going out to dinner and a movie each week). It might be scary at first, but ignorant is not bliss when it comes to your finances.
Eat at home: It may not seem like much, but buying just a $5 meal a day five days a week can add up to a good amount of money over the year. Take a sack lunch to work and eat in for dinner. Who knows? Maybe you will discover you’re a natural cook by doing this.
Cut out cable: Cutting out your cable may not save you a huge amount, but that’s a little extra money you can save for later. Plus with the internet and services like Netflix you can easily catch up on your favorite shows.
Use coupons: If you have never used coupons then now is the time to start! It may not seem like much, but using a “.50 off” coupon here and “save a $.100” coupon there can save you big at the cash register. You may change what products you buy based on the amount coupons you get for them.
Pay off debts: This is probably the biggest obstacle you will have to overcome before you can really start saving. You can technically put your money in a savings account, but what good will it do if you still have a loan to pay off? If you are successful in doing some of the things mentioned earlier you should have earned some extra cash, which you can use to pay down your debts even faster. It may take a while, but you will be able to really save once you’re done paying off your debt/loans.
The bottom line is you need to know where your money goes in order to figure out what expenses to cut. It can be hard and sometimes you might slip, but it will be worth it in the end when you are able to put money (and keep that money) in the bank.