2018 Money Saving TipsPayday Loans Utah
Did you know that saving money is an excellent way to achieving your financial goals such as buying a home? However, the art of saving money is a puzzle that remains unsolved to many people. In fact, you don’t have to start earning a six-figure salary or win a lottery to build a comfortable saving culture.
You just have to set your financial goals and stay focused on reducing your expenditure and save more money. Although some people have come up with various money-saving strategy, the key to success in money saving is commitment and discipline. Below are 6 money saving tips you can try out in 2018.
1. Set Your Saving Goals
This is an essential aspect of money-saving culture. Try to visualize what you’re saving for, and you’ll gain the commitment to do so. Setting your saving targets along with a specific timeline will motivate you and make it easier to save. Do you want to buy a car in two years with at least 60 percent down payment? Now you have a specific target, and you know how much you’ll have to save each month to achieve your set goal.
2. Learn to Buy in Bulk
The guiding principle of this saving tip is simple; if there is something you know you’ll be using in your home such as groceries, food items, or toiletries, then you can save yourself some money by purchasing in bulk. Everyday household items such as toothpaste, tissues, foodstuff, and other things are great for bulk buying since you’ll be saving a lot of money in the long run by avoiding impulsive purchase whenever you make a trip to your local store. Calculate how much you’ll have saved and redirect the amount to your piggy bank or savings account.
3. Make Saving Automatic
This is an excellent practice that you can practice if you often lack saving discipline. Banks offer free services that will automatically transfer a fixed amount of money from your checking account to your fixed savings account every month.
This is a simple way of saving that will ensure that you save some money every time you’re paid. Alternatively, you can talk to your human resource manager to be directing a certain percentage of your paycheck every month to your bank savings account.
4. Track Your Spending
Most people spend most of their money on things that they can’t explain. If you’re unable to account for every penny that you spend, then it’s time you started tracking your expenditure. Tracking your expenditure reveals your spending habits laying everything bare. You’ll know how much you spend on non-essentials, food items, night outs among other things. By tracking your expenditure, you’ll see exactly what is eating up a massive chunk of your money and come up with effective ways of reducing your spending to increase your savings.
5. Save Before You Spend
More than 90 percent of people tend to spend their money first and then save what is left. This is a bad saving habit that you need to change and start doing the reverse. Always set out a certain percentage of your earnings for saving before you spend a penny. This ensures that your saving is ever constant and you’ll adequately manage the money you’re left with after saving to cater for all of your needs.
6. Consider a Payday Loan In Case of an Emergency
Avoid converting your savings into an emergency fund. Let your savings be there to cater for significant expenditures like a down payment for a car. Typically, payday loans offer an excellent option where you can borrow money to cater for your emergency and repay the loan on your payday.
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At Money 4 You Payday Loans, we are a customer friendly payday loan dealer operating in the Utah region where you can get a quick payday loan in case of an emergency. Our rates are friendly, and you can be assured of constant rates that don’t fluctuate. Contact Money 4 You Payday Loans today for a quick and low-cost payday loan. Give us a call at 801-593-0865 for any questions on how to apply in person or online today!