A good way to save money that you know you won’t spend is to open a savings account at a bank that you do not normally use. When you open a savings account at a different bank than the bank you normally use checking account money from, you create more strong will for yourself to not use that money. The money in the other bank account seems foreign to you, which can help avoid spending it. So find another bank and start saving.
Instead of buying food every day you go to work, go ahead and plan out your meals ahead of time. Pack yourself a lunch and you’d be surprised at how much you save in a week and even a month on food by not eating out all the time. You can also apply this to dinner time meals as well; just try to eat in as much as possible and see how much you save in a month.
The best way to know how to budget your money is to actually write down how much you spend in a month. When you keep a notebook or journal of how much you are spending, then you directly know what your spending habits are a month. This is a good way to adjust any splurging or poor decisions you make when you spend your money. Keeping a journal can prove to be a very helpful thing so start writing down how much you spend.
Before you buy anything, think about whether or not that item could be cheaper somewhere else or if you can find coupons to reduce the price. Saving five dollars here and five dollars there can be a very helpful thing and can add up over time. If you save yourself $25 dollars a week on buying items either on sale or at a cheaper price through coupons, then you could save yourself $100 a month. That money can be used very wisely elsewhere, so think again before you finalize a purchase.
When you have money, you want to waste it. Make sure that you do not carry around a lot of cash with you all the time. Carry around a reasonable amount to use in case of emergencies but nothing more than can hurt your budgeting efforts for a week. You probably want to carry around 20-40 dollars with you and only use it when you absolutely have to.
Although some of the ideas in here can seem time consuming or meaningless, they are effective strategies for budgeting your money effectively. Just go ahead and try out some of the strategies you learned here and see if you notice a difference in your financial situation in a couple of months.