How to Save Money Every Day

Who isn't interested in saving? I don't know anyone who prefers wasting money. However, most of us do it everyday. It's not until we need to save, usually because of financial crisis, that we start actively saving. You might think that saving is a no brainer but, it could be more challenging than you think. Knowing how to save money is directly linked to knowing how you spend money.

It may not be apparent at first, where all of your money goes. I'm not referring to your monthly bills or expenses. It's the little leaks that sink the ship, as they say. Saving everyday isn't rocket science, that's for sure. But, it does require you to be aware of everyday spending. Money comes in many forms, making it even more difficult to track daily spending.

We seem to notice more when we spend cash, as opposed to using the debit card or writing a check. Spending cash is an immediate visual money loss. Checks and debit cards are not an immediate visual loss as most people will not record the expenditure until a designated set aside time to balance their checking account. Some will not record them at all! Complicate your spending by using a credit card to cover your everyday spending and, soon you have no idea how much money is really slipping through your hands everyday.

Knowing where your money goes is the first step in saving money. Carry a small notepad for about a week. Write down all money you spend everyday whether it be cash, check, debit card, or credit card. Next, review your list to see how you can start saving. Immediate savings can come if you eliminate spending that just isn't necessary. Next, think of ways to save on expenses you consider necessary. Here are some money saving tips to get you started…

• You'll reap some substantial savings if you simply pack your lunch instead of eating out. This change alone saves well over $100 per month.
• Stay away from vending machines and convenience stores. Bring your own snacks from home. Try apples, oranges, or other fruits and veggies for healthier snacks. Buying chips, crackers, etc., in larger portions and packing your own individual portions always saves money.
• Savings will really add up if you cut out the lattes and other specialty coffees. If you must have coffee after you leave home, you should invest in a carry out cup. You'll save money if you make the coffee at home and carry it with you to work in the cup. If you drink coffee throughout the day, and don't have a coffee machine at work, invest in a thermos. If you normally buy 2 cups of coffee each day during a 5 day work week, you can save yourself about $40 month using this savings strategy.
• Skip the donuts and/or breakfast out. Get up a little earlier and eat your breakfast at home.
• Always use coupons and take advantage of discounts whenever possible. For example, if you pay a toll to travel to work daily, invest in a toll pass.

In my opinion, everyone should be consciously saving all the time. Commit to put the money you save everyday in a special savings account. Before you know it, you'll have the emergency fund or savings plan you've been needing. Or, maybe you'll finally have the money for that new appliance, outfit, or other item you've had your eye on for some time.