If you want to save your money and catch up with all the expenses you have, it can be a difficult journey. After all, the modern world seems to require more and more money to live in. However, if you have the right plan, you can put away more cash while saving big on a variety of expenses. So, don’t get in over your head with your finances. Use these 5 tips below:
Make a List of Necessary Expenses
If you are going to improve your finances, you have to know what the baseline is. You need to understand how much you are required to spend to keep the lights on, put food on the table, and pay other vital expenses. Once you have this number, you know how much you need to make to match it. Anything that you make over this number is money that you can save up. Write that number down somewhere. It will be key in helping you craft a budget that makes sense. That way you know if you can truly afford something or merely wish you could.
Make a List of Luxury Spending
It might be tempting to get another cool piece of clothing or go out for dinner for the third time this week. However, these things can add up. Make a list of the luxury items you plan to spend or have already spent. There may be items that you realize need to go back to the store so you can put more money in your pocket. It helps to shop at stores that let you take items back. For instance, the Walmart return policy is very generous, giving you ample time to return just about any item that you purchase.
Ask for Discounts
Far too many people pay full price for things when there are actually discounts. The world is already expensive enough. The last thing you need to do is pay more than you have to. Get into the habit of asking for discounts on any item you purchase. The worst they could say is no. And if this makes you uncomfortable, then look at it as a challenge to become a better communicator.
Wait Until Coupon Season
The timing of your purchases can have a lot to do with how much you make. If you buy things in the offseason, you can sometimes land big deals. For instance, clothing items for the last season will be on sale. However, that’s not always the case. For instance, in the example of holiday shopping, you will find that many of the best deals happen right before the big days to entice shoppers to buy.
Negotiate
With larger purchases, you want to get into the habit of negotiating. This might seem like a scary prospect if you’ve never done it before. However, it can be key to saving more money. The first thing you should understand about negotiating is that you can always walk away. So be polite, but insist that you won’t buy the item unless your price is met. This will give you all the leverage in the negotiations.