When it comes to saving money, there are always new tools and tricks we can learn about. Budgeting is not the same as saving money but it can definitely lead you on the right road to growing your savings substantially. Here are some unique money-saving tips that you may not have thought of before including cheque cashing. When you’re serious about saving money and want to get started with your best foot forward, these are the tips you’ll need to know.
Understand What You Saving For
There’s an old saying “the devil’s in the details” and this is so true when it comes to setting up a budget and saving money. We can get caught up in our day-to-day lives and focus on the little things while ignoring the big picture. You can even lose track of what you’re saving up for! It’s time to examine your future in terms of a bigger picture and then from that aspect you’ll be able to drill down and fill in the smaller details.
What exactly are you saving for? Do you want to have money set aside for an emergency? Are you saving up for your retirement? Do you have plans to buy a new house or condo in the future? Perhaps you are simply saving up for your next vacation. No matter what the goal is for your savings, you must remember it and keep it as a top priority. This is how you will continue to stay motivated as you build up a nice savings nest.
Save Money with Cheque Cashing Services
Here is a unique money-saving tip that you may not have considered before with cheque cashing. How much are you paying in fees for your current chequing account with your bank? Do you understand all of the hidden fees and service charges? Most of these are written in small print and you only see the details for these fees when you first sign up for your account.
If you’re like most people you aren’t writing a lot of cheques these days but are holding onto your chequing account for the few times when you need it. Instead of paying monthly charges you can use cheque cashing services instead. If you only have a few cheques to cash you may find that you’ll save quite a bit of money by getting rid of your current bank chequing account and using these services instead.
Saving up for an Emergency
In order to determine how much you should save up for an emergency you should consider how much time you want to have covered should an unexpected event come up. In most cases it’s wise to save for 3 to 6 months’ worth of expenditures.
The nice thing about saving up for an emergency is there is an ending point to it. Once you have the dollar amount figured out it can remain pretty much a constant that you can aim for. Once you’ve saved up enough money you can start putting the money that you would usually put into your emergency fund into another savings plan.
The best thing you can do to save up for an emergency is decide on a percentage that you can devote to this goal. For instance, if you were able to put away 5% of your regular earnings every month, the fund would start to grow. You can also add in 5% for unexpected money that you receive for doing odd jobs, such as birthday or Christmas presents etc. Remember too that family members that give you money for a holiday may give it to you in the form of a cheque and you can cash it using cheque cashing services.
Save on Grocery Shopping
How much money are you spending on groceries per month? For most people, this is a big part of their monthly expenses. There is usually some way to cut back on your spending and it all starts with looking at how you are shopping and what you are buying.
For this money-saving tip it’s important to really confront your grocery shopping habits. For the first month you should just concentrate on keeping notes on everything you buy. This would include anything purchased at a convenience store including coffees and the food you buy at a restaurant. You might be amazed to see how much extra you are spending outside of your regular grocery store visits.
Once you have done this you can take a look at how you can save money on groceries. Instead of following general grocery saving advice, you can make up your own plan based on your own personal spending habits.
Cash for Gold to Boost Your Savings
If you have any extra gold that you don’t use in the form of jewelry you can bring it in to a cheque cashing store to get cash for gold. It’s fast, easy, and you’ll leave with extra money on the same day that can be deposited right into your savings funds.
Payday Loans for Short-Term Loans
If you need money in a hurry or you have been thinking about taking out a long-term loan with a bank, you may want to consider payday loans instead. You’ll have to pay back the loan when you receive your next pay but you won’t be locked into a long-term loan. Payday loans can give you the help you need without incurring debt over a long period of time. The less debt you have, the more money you can put into savings.
Keep your eyes on your goals so that you always continue to save. If you are stashing away money at home, make sure that your goal is written down in the place where you are putting the money. If you are saving the funds in a bank account, give the account a name that is associated with your overall goal. Some people put up Post-it Notes on their bathroom mirrors as a constant reminder of their big picture goals.
Whether you use cheque cashing services, cash for gold or payday loans to help you save, you’ll find that you’ll be well on your way to building up your savings funds. Learn more about these types of services now by visiting moneydirectstore.ca.