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How to Keep More Money in Your Pocket

Saving money means more than putting a little extra money aside for a rainy day.  It’s more about how you live your everyday life.  It’s not that difficult to save money, but you may have to make a few changes to your lifestyle.  While the following money saving tips is going to make you rich overnight, they will help you gain control over your money which is important for any wealth building plan.

It’s very important that you create a written budget.  This will provide you with the information you need in order to save money.  If you don’t know where your money is going, there is no way you can make adjustments that will allow you to save money.  By tracking everything you spend, you will see where you are spending money on things that aren’t necessary.

When you are creating a monthly budget, create a list of things that are most important to you.  Determine how much money is need for your necessities, such as food, housing, utility bills, and credit card payments.  Everything else should be saved.

While it’s important to set goals when it comes to saving money, make sure that its realistic.  For instance, if your salary is $50,000 it would be unrealistic to think you will be able to save $30,000 in a year.  If you set unrealistic goals, it will be difficult to achieve saving money piggy bankthem.  Instead, set small, attainable goals that will keep you motivated.

In order to save money, you have to have a positive attitude.  Remember, most people would rather spend money than save it so you will have to work on breaking any bad spending habits.

Obviously, you will have to buy things.  When you do shop, look for bargains.   When you shop for clothing at the mall, check out the clearance racks.  You may be amazed at the bargains you will find. You can also find bargains at surplus, thrift, and dollar stores.

Don’t forget about the power of using coupons.  Many people are using coupons to save hundreds of dollars a year.  Consider buying those items that your family uses consistently in bulk.  For instance, you can buy things like cereal, body soap, cooking oil, and shampoo in bulk.

If you use credit cards on a regular basis, this is a habit you have to stop.  If you are in a situation where you are unable to pay your balance in full each month, you should only use your credit card for emergencies.  Credit cards should not be used to buy things that you cannot afford to pay for in the first place.  If you are only paying the minimum amount each month, it will take years, possibly decades to pay off the balance.   Make every effort to pay off any existing credit card debts and use the cards only in emergencies.

Saving money doesn’t require you to give up everything you love.  Simply look at your lifestyle and find areas where you can make improvements.  For example, if you enjoy movies, consider going to matinees rather than the evening shows.

It takes just a little thought and practice to get on the path to saving money.

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