In tough economic times, it’s often difficult to put away savings for when you’ll need it. Many of us find ourselves living paycheck to paycheck, struggling to pay rising living expenses. Because emergencies like health problems and job loss can happen to anyone, many advise that a minimum savings goal should be roughly three-to-six months of living expenses. Here are 5 ways to help you save money:
1.Draw up a budget and stick to it. Save receipts for all purchases you make in a month and make a budget from it. Decide what are your needs and wants.
2.Avoid making impulsive purchase decisions. Think twice before you buy something that you don’t really need.
3.Consider reducing service levels. Shop around for a different service provider for your insurance, phone, and Internet.
4.Spend less on entertainment. Reduce going out for lunch, clubbing or movies. Rather cook at home, invite friends over or download a movie and watch it at home.
5.Start a side business. If you are able to start a side business to make extra money then start one. It will help you make extra money during hard times.