Saving money is always hard to do. We live in a society where we want the good things right now especially if we are grinding every day. If you’re not a trust fund baby, you might be living paycheck to paycheck or neck deep in debt. It could all be overwhelming regardless of what stage in life you’re in. If you are in a good position, you can always look at the aspect of healthy spending and savings habits. The number one healthy spending and savings habit is having a budget. 

Having a budget is good for keeping track of spending as it can help you see where you spend your money. Keeping track of where you spend your money can help you build your savings little by little, every week, or every payday. Identify what is and isn’t necessary. Creating a budget will help you see where you can save. You can get a jump start by keeping track of everything you spend for at least two weeks to month or by looking at your bank statement every month. 

Stop paying for your coffee and lunch is another good way to start. Make your coffee and lunch at home and save eating out to once a week, once a payday, or once a month. It may even be healthier for you as well in the long run. Many grocery stores have your favorite fast food chain items in their stores for you to buy now. Coffee, chicken, hamburger patties, and sauces are available to help you curb your cravings. 

Pay in cash and use your credit card for emergencies only.  We can talk about ways to pay off your debt later. Put cash aside every week for essentials that you can pay with instead of charging your credit card. If you can’t pay for what you want in cash, you shouldn’t be buying it with a credit card; avoid impulse buying. Most of the time you are paying for the name brand, but you may find it on sale or cheaper somewhere else. Start buying generic brands where you can with clothing, groceries and items that are just as good as the name brand.

It doesn’t matter how much money you make, what matters is you recognize how you spend your money and where you spend your money. It may never be a good time to start saving because life always happens, or we get complacent in bad spending habits. Recognizing those habits is the first step of getting out of them and creating healthy spending and savings habits.

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