7 ways to save money on a budget

Article Written by : Business and Finance Net

Most people are on tight budgets and making your money stretch is important to ensuring you make ends meet. Here are 7 ways to save money on a budget.

Shop smarter – When you shop, make sure you shop around to find the best prices. This will involve a bit of planning and time, but can often help you save at least 30% than if you buy an item at the first place you see it. You should also look at using coupons and credit card discounts.

Keep the change – Your loose change can often amount to a lot more when you place it safely away in a jar.

Pay yourself first – Create a savings goal and save as soon as you receive your salary. This will ensure that you have a set amount to spend during the month.

Save with a purpose – Have a clear idea as to what you are saving for. This could include a vacation, a new car or a home.

Make it automatic – Don’t rely on you transferring your savings, instead choose to transfer your savings automatically.

Stop using your credit cards – Avoid using a credit card, if you are unable to pay your debt, in full at the end of each month. Choose to use your credit card only for discounts and to accumulate points.

Create a budget – A budget will give you an idea on how much you can spend and what you are spending on.