Groceries take up a big chunk of our budget but there are so many ways to save money on them that people don't know about. One of the easiest ways to save money on groceries is to use a cash back app. Here are a few of my favorites:
This is probably the easiest way to save money, and if you're not using at least one cash back app or website you're losing money you could have kept. Even if you barely shop, it's still worth it to take advantage. So what are the best cash back apps? Here are my favorites:
Goals, in general, are great to have – they give you something to work towards and they're motivating. When you're coming up with financial goals, follow these key points:
Starting a budget and sticking to it is key to financial success. It's also one of the personal finance basics. If you want to save more money you're going to need to at least have an idea of where your money is going each month and how much you're making each month. You don't need to become a budget fanatic, but at least set up a basic budget.
You've definitely heard of these before. An emergency fund is a sum of money that's saved strictly for emergencies. That means you have to save some money first to build your emergency fund. Once you have your emergency fund, it's going to do exactly what it's meant to do: save you money when emergencies happen. Since you'll already have enough cash saved to deal with most emergencies, you won't have to go into debt (and pay interest) to deal with them.
Chances are you are either using some type of budget spreadsheet or a budgeting app to create your budget. You want to take a look at your budget data and study your budget trends. Maybe you were able to pay off a significant portion of your credit card debt this past year or there were household spending changes. Maybe you were able to save money on housing costs in your budget. On a spending audit, I recently had 21 unusual things I stopped buying in my household. By knowing this kind of information and addressing household spending changes, you can change your long and short term goals which in turn will impact future budgets. If you are good at excel and your budget spreadsheet is in excel, you can create custom formulas that will automatically calculate things such as percentages of increases or decreases within a budget category. Knowing this information is extremely important and worth knowing in your financial life.
Creating a budget is a lot of work and so is living by a budget. It takes a lot of personal power to hold yourself accountable to the budget that you have created. Accountability is one of the most important budgeting tips and tricks available. Luckily there are a lot of techniques and budgeting tips and tricks you can use to combat this within your daily life.
When it comes to physically creating your budget, you will have to make some decisions on the type of format. Choosing the correct budget format to align with your goals is also one of the most important budgeting tips and tricks to follow. There are a lot of different types of personal budget systems so you have many options in this area.
Following a budget is no walk in the park. You will make mistakes and have mishaps here and there, but that is OK. Don’t let that discourage you from sticking to your budget. A good way to keep motivation high is to establish a reward system for reaching certain goals or milestones within your budget. Establishing a reward system is one of the best budgeting tips and tricks to use. The reward could be as simple as taking in a movie or as extreme as going on a vacation. I have actually followed this tip and strategy and recently went on a vacation to the Caribbean when I paid off my mortgage early. A reward system will keep your energy and enthusiasm high for meeting your goals within your budget.
This is one of the more important budgeting tips and tricks to follow. When your budget is complete, you should go through and review your expenses and look to see if they line up with your short and long-term financial goals. I talked above how analysis is one of the best budgeting tips and tricks to keep your budgeting on track. For example if one of your goals is to get out of debt or reduce credit card balances, then you want to be sure that your monthly budgetary expenses reflect that. You should have and aggressive monthly expense factored into this category if you’re trying to pay off your credit card debt.