The Financial Fairy Tales Blog

Are you thinking about ways to save money in your budget? You might think that this is going to take a lot of work, sifting through your personal finances. But the reality is that it’s probably easier to save money than you might realize. Here are some of the key options that you shouldn’t overlook and that could make a big difference. It could mean you’ll have more money to spend each month on little luxuries as well as things you need. 

Don’t Buy New 

First, you need to make sure that you are avoiding buying new if you can help it, particularly for expensive items. Most items that are expensive will absolutely obliterate your saving options because of the high level of depreciation. A classic example would be a car. If you buy a car, it’s important to know that cars depreciate the most in the first three years after they are purchased. That’s why it’s so much better to look at used cars. You just need to make sure that you check out used cars and ensure that there are no expensive issues lurking underneath the surface that could cost you more in the long term. Remember, you can take anyone you want with you when checking out a car including a trained expert. 

Go Green Where You Can 

You might also want to think about going green with your lifestyle choices. If you cut down the costs of your energy usage, then you’ll be surprised by how much you can save each month and even year. There are lots of ways to go green. For instance, we mentioned cars so you could think about buying a hybrid. Or, you might want to just make smaller changes around your home such as LED lights. These use a fraction of the energy compared to the typical lights in your home. 

Workout For Free 

There are certain things that we tend to pay for and there’s really no need. We can get the same benefits for free. One example worth exploring here would be the bill that you pay for your gym membership. While this might not seem that expensive, this is money that you could spend on other things or even just save. Instead of heading to the gym you could work out at home. All you need is an app that will show you the workouts you can complete without any equipment at all. 

Set Your Budget

Finally, you might want to think about setting your budget. It’s easy to forget this step but if you set your budget then you’ll be able to keep track of your savings and ensure that you are meeting your financial goals. 

Setting your budget just requires you to add up all your income options and then take off any bills that you have through the month. The amount you have leftover is the amount that you can spend on whatever you want. If this isn’t as much as you hoped, then it’s important to think about a side hustle choice.