Tired of overspending every month? Check out THESE simple ways to save money

Does your bank balance send you into pits of despair? If yes, then it’s time to get responsible with your finances!
People,save money,Savings,budget friendly
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If you have just started out on your own and are feeling overwhelmed with your expenses, don’t worry, you are not alone. With the rising costs of everyday items and a limited budget, it is often impossible to make any savings. Our bank balance saddens us yet the expenses just don’t seem to stop! One of the major goals of becoming a self reliant adult is to have enough savings for your every need. While all of us would love to cut back on our expenses, sometimes the hardest thing about saving money is just getting started. That being said, saving money is not very difficult if you have a clear cut plan and the resolution to do so. This step-by-step guide for how to save money can help you develop a simple and realistic strategy to save some moolah every month. You can follow these easy hacks so you can save up for near and distant future!

1. Record every expense

Record every single expense that you make throughout the day - be it coffee, bus tickets or a bag of potatoes. This is the best way to get started. Recording your expenses lets you have a look at your spending, and determine which areas you should start cutting back on or completely stop!

2. Start making a budget

Once you are aware of how you spend your money, create a budget. Start with three categories - necessities, emergencies and recreational. Allot a definite number to every budget and try not to exceed the budget in any category. Remember to spend the least on recreational activities!

3. Do away with unnecessary expenses

Do you really need to buy a cup of coffee every morning? Is it necessary for you to hire a cab to work each day instead of availing public transport? If the answers to both these questions are no, it’s time to cut back on non-essential expenses!

4. Set saving goals

Start saving up for something you really want (or need)! It could be a wedding, vacation or even a brand new car. Setting a goal allows you to stay on track and you also get rewarded for saving up!

5. Review your savings often

Review your budget and check your progress every month. This will help you stick to your personal savings plan, and also identify and fix money related problems quickly!

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