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Save, Save, Save!!! And Save Some More!

  • By: Jesus Gomez
  • Jul 5, 2018
  • 1 min read

Moneybuddy knows that life can hit you with a boat load of unexpected circumstances, that’s why he stresses the importance of planning ahead. Get ready to learn some basic saving strategies and tactics!

1. The first step to saving money is to figure out how much you spend in the first place. You're going to have to start keeping track of everything you spend your money on. So that means anything from your daily coffee to going out to eat with family. Saving money will be a lot easier once you know what things need some attention.

2. Once you have an idea of what you spend in a month, you can start to organize your expenses into a budget that fits your needs. Your budget should outline how your expenses measure up to your income—so you can plan your spending and limit overspending.

3. After your expenses and income, your goals are likely to have the biggest impact on how you save money. Be sure to remember long-term goals—it’s important that planning for retirement doesn’t take a back seat to shorter-term needs.

4. Prioritizing your goals can give you a clear idea of where to start saving. For example, if you know you’re going to need to replace your car in the near future, you could start putting money away for one.

 
 
 

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