Happy Friday! There is so much changing in the world on a daily basis. This includes the economy. It is very important that we are all prepared for unexpected costs like rising gas and grocery prices. Budgets and small adjustments can make a big difference in our bank accounts. I’m sharing cost cutting strategies that will help you keep your budget on track. These strategies will move you forward on your journey to financial success. Keep reading for all the deets.

tips for saving money

Track your spending-understanding your cash flow is the first step to finding areas where you can save.

Separate wants from needs. You know what you like to spend money on. However, it’s important to identify what your “wants” are. For those wanted items consider implementing a waiting period. Pausing can allow you to evaluate the priority of your purchase and look for the best deal.

Avoid using credit cards to pay your bills. It may feel easier to charge it using credit cards. However, this only increases your monthly payments in the future due to interest.

Plan for irregular expenses-we often forget to account for irregular expenses. Gifts around the holidays are a common example. We don’t pay for them every month. When you build a budget be sure to set aside small amounts every month for these periodic purchases.

Evaluate your services. Look at your fixed monthly expenses. Consider which services are essential. Decide which could be adjusted. Consider cutting or reducing your cable package or pausing a streaming app.

Create spending speed bumps-creating slow-down barriers can help keep your spending on track. Remove your payment information from shopping apps or mobile devices this creates a barrier between your shopping cart and checkout. Taking away the convenience of spending helps save money. It keeps you on track with your financial goals.

Adopting some of these tips can give you some financial relief. If you have a balance at the end of the month, consider putting those funds towards your savings account. This can aid your future endeavors.

–Chantel Keona