We all think about how to save money for a rainy day. When you do this, you will eventually have an unexpected cash flow that you can use to have some fun with. The question is, how do you save this kind of money? The answer is that there are some ways to save money that are easy to implement.
One of them is to simply set aside a jar and deposit change in it whenever you can. You would be surprised how much this adds up to after a while. All you have to do is take the change you get back from making a cash purchase and put it in a jar you don’t access much. Weeks, months or even years later, you will have a stash of money you wouldn’t have had otherwise.
Another way to get a hold of some extra cash is to limit your spending by setting a budget that is smaller than your monthly income. You can do this by cutting out most luxuries in favor of having more money later on. To help save money consider comparison shopping for groceries, OTC medicines and other similar expenses. This can save you a significant amount of money over time.
When you do want to purchase something, consider making yourself wait one full day first. In that day you may decide you don’t need the item after all. Most people don’t think to do this, and it makes it harder to save money that way. By making yourself wait before buying non-essentials you are potentially saving money without having to even think about it.
If you can afford to, you can also easily save money by automatically having a set amount taken from your paycheck and put directly into another account. When you have enough disposable income you won’t even notice the extra money going into savings. Nothing could be easier than securing money you won’t even miss in the mean time.
It may not seem like it, but another way to save for a rainy day is to simply pay your credit card bills on time. The reason this saves you money is that it prevents you from having to pay fees on your bills. Those fees can eat away at any money that would have been extra otherwise.
They say sharing is caring, so get together with friends and family, or neighbors and borrow and share items you or they have. For example, if they have a snowblower ask if you can borrow it when needed. Lend them your lawn mower in return and everyone has more money in their pocket than they would otherwise.
These are some easy ways to save for a rainy day. Doing so does not have to equate to going without the things you really want or need. It just means changing the way you do most things.