07 Jan Save Money to Start off 2021:
Save Money By Living Small With These FIVE EXPERT TIPS
While choosing to intentionally live in a tiny house, modular or manufactured home, or small alternative dwelling can help you save money in plenty of ways, it doesn’t guarantee freedom from temptations to spend, to upgrade, and to avoid life events that can cost big. As we head into a new year, check out these expert tips to how you can have a spend-free month to build savings and momentum toward living more simply this year.
Save Money First
We can never expect when we might have a fender-bender, a broken appliance, or need a car repair so building a savings account is always a good fall back. In the instance that you are striving not to spend for a month or more, it is good to have a cash envelope you can turn to if something unexpected comes up.
Timing is Everything
Don’t start something that will be a challenge like not spending for 30+ days when you are overwhelmed in many other areas of your life outside your finances. Be sure to plan to achieve a no-spend month when the rest of life’s stressors are at bay so you have the best opportunity to succeed.
Establish Ground Rules
It is really easy to negotiate tricky ‘gray areas’ in spending when you are stressed or are just tired of not living your life the way you’re used to living. So, before you begin your no-spend month, set up boundaries and expectations for yourself so you know what you can and cannot do throughout the month.
One of the major players in a monthly budget--no matter the size of your household--is the food budget. This may include groceries, date nights, and eating out, or only foods that you use to cook at home. Either way, this is a sure-fire place to make a big impact in your overall budget. Eating at home and planning your meals ahead can not only save you money but also time and unnecessary calories.
Not spending excess money outside of your allotted budget for an entire month is no easy task. This is one thing that will promise greater success if you enlist a friend or two to check in, call you, and hold you accountable for your spending. Beginning the new year with a dedication to a month of spending less can change your perspective, shift your focus, and increase your savings! You can also check out some of these useful budgeting apps.
If you enjoyed this blog post, check out other saving tips in this blog.