How to save more money every month

It is not so hard to save a little extra money every month. And think of what you could use it for. You could put it towards paying off your debts faster. Or just to increase your savings or your emergency fund savings. Or maybe you are saving up to buy something new, like a tv or a car or something else.

What are you spending your money on?

In order to find out what you could save money on, you have to see what you spend it on first. So make an overview of your monthly costs, create a budget. Write down everything, from your major expenses like rent, car payments and mortgages, to all the little things, like that fancy coffee from Starbucks, gifts, and snacks. Now take a very critical look at your list.

Now look at where you can save some money?

Look at every item on your list. Do you really need it? Is there something you could stop spending money on, or maybe spend a little less money on? Are there any surprises? Are there things you spend more money on than you may have thought previously? Looking at you spending habits all neatly written down can be a bit confronting. But it is also smart to do it every now and then. It is very easy to slip into bad habits, and to let your purse strings loosen up.

Cancel subscriptions and memberships you don’t need.

Do you pay a monthly gym membership fee, but never go? Cancel it, just go outside for a run, it’s free. Do you have a subscription to a magazine you never read? Cancel it, and when you do find the occasional time to read up, catch up on your old copies, or just buy it every other month. Do you use all the minutes and texts you have on your cell phone contract? If not, get a cheaper contract. If you go over your limit you have to pay a lot extra every month. Either try to cut back, or find a contract that is more suitable to your needs and cheaper.

Cut back on little treats

The little snacks or luxurious coffees you buy for yourself may not seem like a lot of money, but if you add them up per month, or per year, it is actually a substantial amount. Maybe you could do without them a little more often. Bring cheaper snacks from home, or cut back to buying them only once a week.

Stay in

Eating out and going to the cinema or the pub can cost you a lot of money. Next time try staying in. Rent a film or cook a fancy dinner for some friends. If you alternate with you cooking for them and them cooking for you, this can be a great new way of spending quality time together.

Find other things in your budget

Just take a good look at your spending habits. Even little changes can make a big difference. Like doing your grocery shopping at a cheaper supermarket every now and then. Or eating vegetarian once a week. Or buying your furniture from a second hand shop instead of new. Or maybe smoking a few less cigarettes every day.

Do you have any other tips? Tell me in the comments!