How to start saving money in 2018?

How to start saving money in 2018?

Do you spend more money than you earn? You should make a big decision to start saving money in 2018. I wrote some useful tips to help you develop savings habits. Some of them you can implement now. Don’t expect that your financial life will change immediately. It takes time but if you are persistent you will succeed.

Frugal living tips

  • First of all, you need to pay off your debts if you want financial freedom. Get rid of your credit card debts, student loans or other debts as soon as possible.
  • Create a budget list and cut your costs. You can start creating it at the beginning of the year. Plan your savings for each month, but be realistic. If you spend $2000 per month, you can’t expect to save $1500 per month. Use finance applications to keep track of your expenses. When you start tracking your expenses, you might be surprised how much money you spend on small items. You need to know where you spend much money so your budget will work.
  • You should plan savings for your future. Open savings accounts such as investment fund, emergency fund, retirement fund. Don’t mix money, keep your accounts separately. If you want to save money, automating will help you.
  • If you have a bank account that charges you high monthly fees, switch it. Open an account that will help you earn interest on money.

Cost savings

  • Avoid unnecessary costs such as cable bill. You can use streaming services instead of cable.
  • Reduce mobile phone expenses. Maybe you have applications or services you don’t need any more.
  • Cancel gym membership or other activities you pay for. For example, you can watch YouTube videos about fitness, and do your exercises.
  • Save money on electricity bill. Turn off the lights when you are leaving your house. Instead of traditional bulbs, you can use LED bulbs. You can also turn off the television and spend your time with the family. Visit your friends.

Save money each month

  • You can start saving small amounts each day. If you save only $5 a day, it is $150 per month and $1800 per year.
  • Develop your savings plan for each month. Write down on the paper how much money you want to save. If you write your savings plan, you can take it more seriously and you will start saving money.
  • You can negotiate a better rate for services you use every month. A company might offer you good deals if you are its customer for a long time. You can also negotiate a better price for other things you want to buy. You can cut your credit card debts if you negotiate with the company. If you like to use your credit card to buy things, leave it at home.
  • If you live in an expensive apartment, find a cheaper place to live. Apartments are usually expensive, but it is not impossible to find the cheap one.

How to start saving money in 2018?

Save money on food

  • We spend much money on food that we don’t really need. Writing a shopping list and menu plan are good ways to save money on food. When you go shopping, you should avoid impulsive buying. Bring a shopping list and stick to it.
  • Use coupons and buy food on sale. You should go to the stores and see what’s on sale before you create your meal plan.
  • We have a habit to buy food at the same store, but maybe that store is not cheap. Find another one. You can also go to the markets because you can find cheaper food there.
  • You can save much money if you don’t buy sweets and snacks. Avoid this unhealthy food. Instead of sweets, you can eat fruits. This is a good way to lose weight.
  • Make your lunch at home and bring it to your work. Don’t spend money on sandwiches, hamburgers or drinks. It is cheaper to make a sandwich at home. If you are trusty, you don’t need to buy expensive drinks, drink water.
  • Don’t eat at the restaurants because they are expensive. Eat at your home. Avoid expensive fast food, too. If you like hamburgers, you can make them at home.

The most difficult part about building savings habit is to start saving money. I hope my tips were useful for you. You can also find more money saving tips on

When you see how much money you saved per month, you will keep yourself motivated, and you will achieve financial success.

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