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Are you saving enough money?

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Money can’t buy you love or happiness, but it can certainly buy you other things. The more money you have, then the safer your life is. It really is that simple, but if you have a lower income than you'd prefer, then making sure that you're saving enough cash on a monthly basis can be a problem.

Saving can often be tedious and will require some patience. Small savings over time are far better than not saving at all. If your savings are non-existent, or you're looking for ways to save more on a regular basis, then here are some tips for improving your saving habits.

Change Banks - Transferring to a new bank account can see your monthly fees drop, making it easier to have a little extra money to put away. Some banks even offer a cash incentive for changing accounts, so do some research and look for the best deals.

Wait 30 Days - The famous 30-Day Rule is easy enough to adopt into your spending patterns. If there’s a big purchase that you want, wait 30 days before buying it. That gives you enough time to know just how much you actually need it.

Shopping Lists - Before you head to the supermarket for your weekly shop, make a list. Go through your cupboards, fridge, and freezer, and only write down what you actually need. Then, stick to that list. Avoid the temptation to impulse buy, and your weekly spend will be much lower.

Swap Essentials - Some things will always need to be paid for. If your monthly insurance premiums are too high, then it's time to shop around for a better deal. For life insurance, you don’t want to be without, so check with sites like Insurance Geeks to make sure that you are getting the best deal possible.

Entertain at Home - Don’t spend your spare money on nights out with friends. Instead, invite them over. You could have a wine-tasting evening, a film night, or a board game night. Whatever you and your friends are into, you’ll spend far less on an evening at home rather than propping up a bar.

Switch Off - Those electrical items in your home are burning money, even when they’re not being used. Make sure that you turn off lights and microwaves when you’re not using them, and your energy bills will be lower. Those savings will be much better to have in your bank account.

Create Visuals - If you have a progress bar in full view that shows just how well you’re doing with your savings, then that can help motivate you to save even more. Having a visual reminder of your goals can help you to reach them more quickly, and could be all that you need to set even higher goals.

Driving Tips - Cars are expensive, but the chances are high that you need yours. You can cut car costs very efficiently by making sure that your tires are full of air. The more that they are deflated, the more they cost to run. You should also stick to the speed limit. Speeding fines are frustrating, especially when the money that you spend on them should be added to your savings.

The less money that you spend on frivolous and unnecessary living costs, the more that you can put away. Having savings in the bank is a good way to make your life feel much more secure. Don’t worry about starting your saving habits late. It’s better to start saving today than never.

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