Are You Looking for Ways To Save More Money this 2024 and Hit A Goal?
WAYS TO SAVE MORE MONEY 2024 – Here are some tips for you on how you can be more financlly responsible and save more money this year.
One of the best ways to spend a year is by saving money. There is no guarantee that you will always have a successful business, a good source of income from employment, or continuous remittances. There are downtimes and you must be prepared for it.
Althoughy saving money is really a tough challenge for a lot of people, there are excellent ways to save more money. Below, you can check the guide on what you can do to grow your savings several folds this year 2024.
1. Automate everything you can
One of the ways to save money is to automate your memberships and loan repayments to avoid penalties and late-payment fees. Are you paying for an SSS contribution or a GSIS monthly premium? It is best to have it automatically deducted from your salary and your loans under an Automatic Debit Arrangement or ADA.
2. Evaluate your bank savings
If you have savings in the bank, at the start of the year, it will be best to evaluate how much your savings are earning. It is best to put your money where it can hugely grow. Hit two (2) birds of safe-keeping your money while growing it at the biggest potential possible.
3. Do not buy things you don’t need
Yes, from time to time, it is one way of taking care of yourself to buy the things you want. However, if you want to save money, it must not happen every day or every week. Prioritize the things needed and always think several times before making a huge purchase if it is really needed or it is another “want” that will leave you in debts.
4. Attack your debt
Also one of the ways to save more money this 2024 is to attack your debt. This can save you a lot of money from growing interest and other penalties charged by banks, lending companies, and other financial institutions.
5. Update your budget
Take a look at your monthly budget and double check how much is the least amount that can be allotted for your daily expenses, for the bills, for the food, etc.
6. Assess which of your daily expenses are unnecessary
Also on the list of the ways to save more money this 2024 is to assess your expenses to determine which ones are actually not necessary — no matter how small they are. If you remove something from your daily expenses, considering that it is deducted from your budget on a daily basis, it can be a huge savings in a month.
7. Use credit card benefits
You must not use your credit card in purchasing things that are not needed but you can make use of its benefits. For examples, certain establishments and restaurants may have promos or discounts for credit cardholders.
8. Use coupons, discounts, and rewards
Whether you are dining at a restaurant, buying in a grocery store, or making just any purchase and you have some coupons or rewards don’t forget to use them or make the claim. No matter how small the discount will be, it is still money saved.
9. Choose an excellent insurance policy to cover your unforeseen needs
Truth be told that one medical can pull your savings all the way down. Thus, it will be much bearable to pay for a monthly fee for an insurance policy.
10. Assess the price of your habits
Your habits can have a huge impact on your finances. If you love taking expensive coffees even though there are much cheaper ones with the same taste, it won’t get you to your goal. Assess the price of your habits to determine which you must leave behind in 2023.