money saving tips

Simple Money Saving Tips That Works for 2021

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Are you looking for money saving tips that you can implement to reach your financial goal? If yes, this money-saving tips article is the right solution you’re looking for.

Many people have no problem earning money but still, struggle to save their money. Mostly, their bank account will be empty at the end of the month. It’s time to change your money management to bring a healthy financial aspect in your life with these following tips;     

Always failed to save your money for your plan such as traveling, buy a house, car, or other necessity? Try these money-saving tips that will change your life once you implement them on daily basis;

Money Saving Tips for Personal Finance

Don’t Buy Something You Can’t Afford

beyond your means can be the first step to ruin your financial problem to the lowest level in your life. For simply, just purchase something you can afford for. In the end, you can save a lot of money and avoid a debt trap. Therefore, you have to encourage yourself to overspend your money.

Diversify your Sources Income

Even if this content tells you how to save money, but we believe that if you don’t have income, how come this tip can help you, right? Therefore, some people feel stuck with their income until there is nothing left to save into their bank account. This trouble can be solved by diversifying the income, there are money-saving quotes to illustrate this situation;

Don’t put all your eggs in one bucket!

From the quote above, we can conclude that; we have to diversify our income sources and saving allocation. For instance, you can work for multiple jobs and save the salary you got from it into many instruments not only saving them in the bank, but also invest it in bitcoin, gold, stocks, mutual funds, bonds, or other cryptocurrencies that brings good investment impact for your personal finance.      

Pay Off All of Your Debt

No matter how much money you earn for a month, it will be good for nothing if debt dragging you down from your financial goal. Mostly, people pay only the minimums debts each month without figuring out what their debts cost over time. Then, if you want to save money, it could be better for you to pay off your debt.

Create your Money Saving Plan Financial Goal

It could be easier to save money if you deciding your goal. Just say it you wanna buy a house or a car next year, what you have to do is making a plan to get there. As simple as that. Without a clear goal, your dream to own a house would be difficult to achieve.

Allocate Saving Money First Instead of Needs, Paying Debt, & Other Expense

In common, when people received their salary, they will spend it for buying what they want even it is not that important (impulsive buying), or paying debt, and the last one is; saving/investment. No wonder you are struggling to save money, tips from us; saving and invest money first, then you can allocate the rest of it for your monthly needs and paying the debt. Just try, your life will change after following this tip.

Use Money Saving App to Assist your Money Management

Nowadays, there are many useful tools on the internet to help your financial problem, the money-saving app is one of them. You can download it on the Google Play Store or AppStore. You could be wondering if a money-saving app is worth it? The answer is; yes! This tool can help you automate your saving, money-saving chart, and even money-saving plan available on the app, with this mechanism, you create a money-saving habit easily.

Track your Income and Expense Every Month

Many people believed that budgeting should get all the attention when you received a salary. But tracking your income and spending habit is the success key to save more money in your bank account!

You should be 100% aware and understand where every penny goes each month. You can evaluate it for next month’s money-saving strategy. Bare it in your mind; ask yourself before spending your money;

For example, I spend ~$999/month subscribing AHREFS SEO tool for a digital marketing campaign to increase more sales conversion on your small business website.

Is that good or bad monthly spending?

It depends! If subscribing to ahref SEO tools is your high priority to increase your business revenue growth, so then you can allocate your budget on it but don’t forget to track this expense on your financial records.

Last but not least, before moving into another tip, here are 3 simple ways for tracking your expenses to save money;

  • Find money-saving apps for tracking expense that works & suits for you. It could be something like Finansialku, Buku Warung, or even other money-saving apps out there.
  • Track your expenses habit for 3-6 months. Focus on tracking your expense only and don’t make any judgments about your spending. Just track the expense!
  • Review and change your expense habit. You can gather the expense data from your previous 3 – 6 months’ spending. With this data, you can evaluate which spending should be cut to save more money in 2021. 

We know that exercise to track your spending could be difficult, but if you make it, there is a lot of money you can save this year. So, these saving money tips are worth it to try to achieve your financial goal.  

Money Saving Tips for Restaurants, Groceries, & Shopping Expense

Plan Your Budget When Eating at the Restaurant

If you want to save money but still wanna have dinner at a fancy restaurant, our best tips for you are planning your meal budget instead of just go out to eat unplanned. With this trick, you can save a lot of money. 

Drink Water Instead of Drinks

We know that the price of water and drinks are different, therefore, choosing the first choice; drink water is the best option you can have to avoid unnecessary expenses when you eat breakfast or dinner at a fancy restaurant.

Use Coupons or Discount

We know that many restaurants try many marketing strategies, in this case; they give many coupons or discounts, as the way penetrate the market to find a loyal and new customer for the sake of revenue growth. Then, just use the discount so you can eat your favorite meal at a low price. These tips also can be used for buying your daily groceries.

Shop with A-List 

Believe me, don’t ever go to the store without a list! Why? Because you would be spending more when you shop groceries without a list on the store. By using a list, it can avoid you from impulse buying and make you focus on what you need to shop for.

Money Saving Tips for Transportation

Use Public Transportation Instead of Private Car 

To save money on gas expenses, it could be better for you to use public transportation in your town, for instance, in Jakarta, you can use Transjakarta or MRT. In the end, if you use this trick, the gas expense can be reduced and there is a lot of money left in your pocket.

Use The Recommended Octane Level Gas & Keep Up your Routine Maintenance

Using the right octane level of gas will help your car run more efficiently without any trouble in the long run. Moreover, to minimize unpredictable expenses on your car, you can give routine maintenance on your vehicle. Make sure you’ve always got the oil changed, proper tire pressure, tires maintained, air filter changed, and any other routine maintenance for your car

Money Saving Tips for Traveling

Use Traveling Apps to Get Discount

You can save a ton of money if you got a traveling promo or discount from a travel agency, startup, or any other traveling platform. If you live in Indonesia, you can use Traveloka as your main apps to get a hotel or other vacation discount every month. In this app, customers can compare the prices, find the best hotel that suits you, or a famous place that you have visited once in your life.

Split the Bills for Traveling Budget

Another money saving tips that you can try is splitting your budget with your friend on vacation. You can save a lot of money and enjoy your vacation with them whether it is on the beach, camping, hiking, or any other traveling activities you want to choose.

Money Saving Tips for Impulse Spending 

Buy Things that You Need

Many factors lead you to behave impulse panic buying such as media, influencer, or even celebrity. If you think that account tempts you into impulse panic spending, just unfollow them and stick to the list of necessary things you need.

Conclusion

In brief, we hope all these money saving tips can suit you. If any one or two tips you think are useful, don’t hesitate to try them, so you can achieve your financial goals to save more money in 2021. Good luck!