To save is to preserve something. Money can refer to physical cash money or money in our bank account. Money can take the form of coins, notes or digital currency such as bit coins.
Saving money means preserving money. It can mean not using our money. Or, it can mean putting money aside from our salary each month.
Below are 7 tips for saving money.
- Spend less than you earn: this is the foundation of a good budget.
- Save a little every week.
- Reuse and repair items such as clothing or shoes instead of throwing them away and buying new ones.
- Put your savings in a high interest account so that they grow.
- Cook for yourself as this is less expensive than eating out.
- Save money on heating by switching it off when you are out and only heating rooms that you use.
- Be happy with free and inexpensive things, like walks in the park, a cup of tea with friends or cooking for others.
Conclusion: You may be surprised at how much money you can save.