So you have a purchase in mind and you are struggling to put the money aside?
Worry no more, We will give you 5 ways to save money even if your finances are tight.

Keeping track

One of the most important things about money management is knowing where your money is going, We all know how much money we make a month but the issue with the majority of people is that they don’t know where their money is going.
Try to think about the last time you thought you have money left before the end of the month but in reality, you had much less or more left in your bank account when you actually gathered the courage to check your balance, whether you were pleasantly surprised or stuck with a feeling of doom once you checked your balance if you were keeping tight track of where your money is going you wouldn’t have that issue because you would already know in advance how much you should be left and If you can afford that new iPhone or not.
This is the only way you will be able to conveniently save money.

Breaking it down

After you realised you should keep track of your money, the first way you can save $5,000 is by simply breaking it down into smaller numbers.
let’s say you want to save $5,000 in a year –

5000/12=416.6

This shows that you need to find a way to put aside every month $416 so by the end of the year you can save up enough.

First Way

We will stick to the one year as a reference

Automate Automate And Automate

I can’t stress this enough, It’s much easier to save money if you can’t easily access it, to begin with, and it’s much harder to spend it! what I like to do, Is have special savings account with my bank, which I do not have access to even through my online banking, Which means that if I want to take any cash from that account and spend it, I will need to physically go to the bank and ask to withdraw it, this can give you valuable time to rethink if the purchase of the item you want to buy and is it really worth it.

So set up an automatic transfer from checking to savings you can’t easily access so you will have more control over your funds! (of course, make sure the money is taken out after you get a paycheck but not too long that you will be tempted to spend it)

Second Way

Be Frugal

It’s not easy to lower your standard of living, but it’s a necessary thing to do it if you’re trying to save money and you failed before, By you have been following your expenses for a while and keeping track, so you know where your money is going, I am 100% sure you have some expenses you ask yourself why did I spend this money, so learn from your mistakes and don’t re-spend your money on the same useless things, for instance, A car wash, Why would you need someone to wash your car when you can do it in 30 minutes yourself? is the $10+ you paid for it really worth it? Be mindful of your expenses, even the smaller ones, like should you drink TA coffee every day, or your coffee at home does the same job.

Eat outside LESS
I love eating in restaurants, All the benefits of food without needing to cook it or clean after yourself, But know to limit yourself, if you started tracking your expenses you are probably shocked how much you spend on food a month, Well guess what, Eating at home is much much much cheaper, usually more satisfying, and I found on myself that I can cook for a couple of days in advance so I don’t need to cook every day! Shocking!
You will be surprised how much you will manage to save a month by just limiting the restaurant experience to once or twice a month instead of a couple of days a week.

Third Way

Cars… Ahh cars, I love cars, and as a car enthusiast I can buy myself on a lease pretty much any car I desire, But I don’t do it. And I drive an older much less flashy car than my friends.

Why do you ask?

Simple. I love to have money in my bank, not my car, cars are probably the flashiest most unnecessary expense most people have, I can’t stress this enough, Don’t BUY CARS ON A LEASE OR TAKE A LOAN ON YOUR CAR.

You might impress your friends for a little while, But as Jay-Z likes to say, If you can’t buy it TWICE you can’t afford it. Plain and simple. so you might be able to afford instead $400 monthly car payments, but wouldn’t you rather have that $5,000 by the end of the year in your bank account instead? I know I would. Buy a cheap, older, Easy to maintain the car for a while, and when you can afford to BUY a newer one, Trust me, You will understand how hard you worked on saving it and you will probably know better than to spend $50,000 on a new BMW.

Fourth Way

If you took the tips from all of the above and still can’t manage to save enough money for your goals I have a small suggestion for you.

Find out how you can MAKE MORE MONEY

If you are feeling you are simply not earning enough, try looking for another job that pays more, work extra hours, start a side hustle, there are millions of ways people make money.
Well, if the way you are currently taking on is not earning enough, guess what, YOU need to take action to change it, Trade, Invest, change your career, work more hours, god only knows how many different things you can do to earn more, but do it! As Nike’s motto goes “Just Do It”.

Fifth Way

Right Mindset

This may be the most important tool that can help you save money, You can achieve the right mindset simply by having the end goal in mind, Knowing the way to get there, and taking the time and courage to do what’s necessary. Set up your goal and reason behind saving this money, and know how much you are intending to save.

Hold yourself accountable – make sure your goals are known, tell someone close to you what your goal is, and ask them to keep you in check if you lose track.

Reward yourself along the way – Don’t forget to keep yourself motivated, you don’t need to make your life miserable in the process of changing it for the better, get yourself that nice thing you desire, but simply don’t go over your budget!

Keep your eyes on the prize – If I know I am saving for a house, I would like a picture of my dream house as my screen saver on my computer, this way, every time I lunch it I can see why I am working so hard and what this determination will reward me with eventually.

Bottom Line

It will not be easy to change your life for the better, And why should it be?
You have to put in the extra effort and work to get where you want to be.
But when you will get there, And I trust you will, it will be an amazing feeling and some extra $ you never thought you can achieve.
You will also earn yourself unyielding determination that will help you achieve the goal you set your mind to in the future, Which is priceless.

Good luck with your QUEST!