10 Ways You Can Learn How to Budget and Save Money in 2021

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With 69% of Americans saving 10% or less of their income, saving has never seemed harder for the entire country. 

There are many reasons it’s difficult. You’re tempted to spend money that comes in, or there are so many things you need to buy that it can seem impossible.

Even when it seems impossible, however, you can put money aside. You just need to know all the right budgeting tips.

Read on to find out how you can save more money than you thought possible. This is how to budget and save money. 

1. Make a Plan

Whether you’re wondering how to save money for a house or how to save money each month for an emergency fund, you should make sure you have a plan! Sit down and work out how much you spend in a month.

Be honest with yourself.

You can then work out exactly how much it’s possible for you to put aside. 

2. Shop Smart

When it comes to how to save money on groceries, shop smart, not lazy!

You might have your regular store and items that you go to every week when you grocery shop, but you should branch out.

Take an afternoon to look around different stores. You might find that they have items cheaper, or even cheaper alternatives.

If your current lifestyle isn’t making it possible for you to save as much money as you’d like, start with the basics like grocery shopping and make changes there.

3. Check Out Every Service Available

Whether you need something down on the house, a medical service, or something else entirely, it’s important to check out all of your options! Learn more about one of those here.

If you don’t do your options, you won’t find the cheapest or best choice. 

4. Thrift

Clothes shopping can make it feel impossible to save money. We tend to need new clothes every season, or our weight can fluctuate and we can change sizes.

Or it can just be too tempting to spend money on clothing sites!

Instead of doing that, try thrifting instead. You can find some amazing items in thrift stores for a fraction of the price. 

There are even thrift stores online.

5. Track Spending

The most important thing you can do to save money is to track your spending. Make sure you get a good idea of how much you spend by taking a month and noting down everything you buy.

Alternatively, you could go through your bank statement for one month and note everything down from there.

By doing this, you can see what was unnecessary and what you spend if you’re only doing the bare minimum. You can then find a balance about how much is appropriate to spend. 

6. Automatic Savings Transfer

You can set up an automatic savings transfer at your bank, so money goes straight to your savings every month!

Some banks even have a feature where they transfer the change from a purchase. For example, if you spend $19.56 on dinner, $.44 would go to your savings. It’s an easy way to transfer money that you wouldn’t otherwise notice and end up with a nice surprise in your savings after some time. 

7. Meal Plan

You can also meal plan. Bulk buy ingredients and spices because although it will seem like a lot to spend in that second, you’ll end up having dinners for many weeks to come. 

Sit down and plan out your meals, because then you won’t be tempted to order takeout on an app or eat out at a restaurant!

8. Delete Shopping Apps

Speaking of apps — they can be the most tempting things. Whether it’s takeout food or clothing store apps, it can be so easy to open one up and shop when you’re bored.

Resist the temptation by deleting UberEats, DoorDash, Amazon, and any other app that might tempt you into spending. You’re less likely to get bored and shop if the app isn’t actually there. 

You can also delete saved payment info from your phone so it doesn’t autofill and is more of a hassle to buy things. It might discourage you!

9. Save Energy

You can use energy-saving appliances and LED lightbulbs at home to reduce your energy bill.

If your AC or heating bills are high, consider looking at getting your attic insulated too. It’s one big expense, but it’ll save on energy bills for years to come, and you should always look to the long term. 

10. Work From Home

If you can, find a remote job. You’re likely to save a lot of money.

For one, you won’t be tempted to eat out at lunch because you’ll be at home and have food there. You’ll also save on travel expenses, whether it’s a commute on public transport or gas money.

Remote jobs can be very handy for saving money. Even if you don’t have one, ask your employer if it’s possible to work from home a couple of days a week. You might be surprised by the answer — and the benefits. 

This Is How to Budget and Save Money

When it comes to how to budget and save money, it can be a difficult task. Many people think they simply don’t make enough to save, or don’t have the willpower to do so.

However, it’s possible for anyone to save! All you need is a little guidance and self-control and with that knowledge, you’ll be building up your savings account in no time.

For other money-saving tips and other related posts, check out the rest of the site. 

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