One of the most talked about topics at the start of every New Year, is “how can I save more money?” Seriously, I get this question at least 3 times a week and often more than that when it’s the start of the year. In fact, one of the biggest resolutions made is to save more money or to pay off debt.
But how are you actually going to do that? It takes a lot of patience and a lot of practice to build up an emergency fund or to pay off debt. However, with just a little bit of discipline, you can make saving money and achieving your financial goals for 2018 a reality.
In this guest post for my friend Katelyn over at What’s Up Fagans?, I share a few quick ways that you can make saving money this year easy and most importantly, what to do with the money you save. You can head here to read the full post or continue below to read a snippet of the post.
Saving $5 a week may not seem like a lot of money but $5 can add up quickly. Did you know that if you invested that $5, in twenty years you could amass over $69,000! Craziness, I know, but it’s true. (P.S. Read Financially Fearless for more on investing.) There really is power in saving money. If you are looking for quick and easy ways to add money back into your budget, try a few of these ideas to see how much you could save in a week.
1. Do a Money Review
Have you done an Annual Money Review yet? If not, let’s do it now. Yes, it will take a little bit of your time but it’s one of the best ways to identify where your budget leaks are and figure out how you could potentially shave off more than $5 a week from your spending! Head here to read more about conducting an Annual Money Review.
2. Brown Bag Lunch
You have probably read about how bringing your lunch to work every day versus purchasing lunch can save you money, and it is true. Bringing your lunch can save you an average of $30 a week. Most purchased lunches cost an average of $6 per meal and making lunch at home cost an average of $2 per meal.
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