Five Ways to Save Money and Get Closer to Your Financial Goals

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No matter where you are in life, saving money is a high priority for many of us. Whether you’re hoping to save money for a down payment on a house, to pay off your car, or to create an emergency fund, there’s no right or wrong reason to save.

As consumers, it seems like the more money we make, the more we spend. Unfortunately, this often leads to debt and unfulfillment. If saving money and reaching your financial goals is one of your priorities this year, there are some steps you can take to get closer to them.

Below are five ways to save money and get closer to your financial goals.

Create a budget

Creating a budget and changing your relationship with money is essential to reaching your financial goals. Creating a budget allows you to see every expense you expect every month and what you should have leftover. A budget is a great way to set standards for your spending and should serve as a guideline for what’s to come.

If you’re a spreadsheet person, I highly recommend creating one. I’m not one, but lucky for me, my husband is a spreadsheet wizard. With our combined skills with numbers and strict spending rules, we’re actively working toward our financial goals.

Save before you spend

If you’re in the habit of saving only what’s leftover at the end of the week, it’s time for a change. If saving is as high of a priority as you think it is, then the saving should come before anything else. Trust me, you’ll soon realize that you overspend only when you see that you have the extra money in your account to do it with.

After creating your budget, calculate how much money you’d be able to save if everything goes according to plan. As soon as your check hits your account, transfer that amount into your savings. You’ll see the number grow before you know it.

Stop eating out

I hate to admit it but eating out has been one of the biggest hurdles to overcome when it comes to unnecessary spending. Not only is eating out unhealthily, but it also takes a toll on your bank account. I’m happy to say that my husband and I stick to a strict rule of only eating out once every two weeks. It’s helped us make great strides in our attempt to save more money.

If you’re struggling with this too, I highly recommend creating a weekly dinner menu and grocery shopping for the entire week. This will help keep you accountable by reminding you that you already have food at home that you shouldn’t let go to waste.

Remove temptation

I don’t know about you, but marketing emails are one of the easiest ways to get me to buy anything. Whether it’s sales, exclusive offers, or new releases, I’ve found that most of my impulse shopping is correlated to emails from my favorite retailers. To overcome this temptation, I recently went on an unsubscribing spree to remove temptation from my daily life.

Temptation comes in many ways and mediums. If you find that physically being in a store makes you spend money on things you don’t need, then it might be time to avoid those retailers altogether. An easy way to avoid this temptation is to shop online for the items you need.

Quit unhealthy habits

I’m not here to judge, but if you’ve been spending unnecessary time and money on habits that are negatively affecting you, it’s time to stop. Whether you smoke, drink, or gamble, quitting these bad habits has more positive effects than you could even imagine. Just think about how much money you’d save if you quit these bad habits altogether?

Your health and wallet will thank you for your hard work and dedication. Plus, you’ll be one step closer to your financial goals.