We all want to save money for our future, but with so many bills to pay we hardly have any money left.
However, this hurdle can be overcome by following a few simple steps which includes hard work and discipline.
The moment you start thinking of saving for the future the amount which you spend at present should be analysed.
List your typical expenses and determine which of them you can eliminate. For instance, cancel your magazine subscriptions if you don’t really read or use them. Many people had long time subscriptions that they no longer need, but forget to cancel.
No matter how low the costs of these subscriptions are, they can be turned into savings and they will add up in the long run.
In case if you have a cable and internet connection, ask yourself if you need them, and if you could opt for a lower plan which would still tender to your needs.
You can almost save 50 per cent of your expenses if you stop having food outside and prepare it on your own.
Plan your meals early and spend a day to get the groceries you need.
Another major cost cutting step is using public transport. With the current fuel rates it is sure to burn a hole in your pocket and commuting in public transport will save a lot of money and reduce pollution as well. You can even travel with a fellow colleague and share the amount incurred.
Before you buy something just because you like it, ask yourself it is really needed. Determine the things that you really want and stick on to it.
Set aside a specific amount for buying non-essential items, so that you can save yet spend on stuffs.
All it takes is a bit practice and the determination to stick to the plan.
Courtesy: www.richtopia.com
