Start Saving Money Monthly to Prepare for the Holiday Season
By brooke, October 14, 2011, News, Tips & Information, Personal Finance
It’s officially fall. Not only does that mean great weather, but it also means we are less than 2 months away from the busiest and most expensive time of the year, the Holiday season. So, to help you start saving now, here are a few tips to start saving money each month.
- Tip #1. Auto withdraw money into a savings account. It’s a great way to saving money because you don’t miss what you don’t see.
- Tip #2. Think before you impulse shop. Before you impulsively make a purchase, take some time, a month if you can, and if you still really want it then buy it.
- Tip #3. Create a realistic budget. To create a budget, take the prior month as an example and calculate your expenses. Be sure to include all your expenses including random trips to Target or Starbucks. Once you can see all your expenses, it will make it easier to develop a real goal to start saving money.
- Tip #4. Cap your spending on miscellaneous monthly items such as entertainment, trips to the coffee house, etc. A simple way to do this is to withdraw a set amount of cash and allocate that money between your specified items. Once the cash is gone for the month then no more outings. By doing this, you establish limits and stop overspending and start saving money.
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