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Budgeting and Saving Hacks: How to Free Up Extra Cash Every Month



Do you ever wish you could stop living payday to payday? Do you want the freedom of having money saved up for a rainy day while still being able to afford the things that make you happiest?

Well, good news!

You can do just that with some simple budgeting and savings tips. This might involve moving one line on a graph up or down!

Track Your Spending

One of the first steps towards freeing up extra cash involves tracking where all your money goes. When we say every penny counts, we mean it! You should keep track of every single transaction – no matter how tiny. There are lots of apps out there designed for this purpose such as Mint or Personal Capital.

Make A Budget

Once you’ve got a good idea about what you’re spending each month, it’s time to make a plan. This means creating what experts call an ‘income allocation scheme’ or as normal people would say – a budget! You should have categories for things like bills and groceries but also entertainment or travel. With the help of a budget, every expenditure decision becomes intentional and unnecessary costs are avoided.

Needs Over Wants

When working on your budget, make sure that at any given time it satisfies needs before wants. Before you swipe your card for another round of drinks or book tickets to Bali, ensure there are enough funds set aside for rent this month!

   4. Automate Your Savings

One way to make sure you save money each month is by setting up automatic transfers from checking into savings or investment accounts. This will allow savings without thought and reduce impulsive spending as well.

   5. Cut Back on Subscriptions

Subscriptions can be expensive especially if one has many streaming services, gym memberships etcetera. Cut them back so that more cash is freed every month. Cancel those not in use and negotiate with providers for lower charges.

   6. Use Cashback and Rewards

Cashback credit cards should be used because they help people get extra money every month. Such cards are available for groceries, gas and other items bought on a daily basis. The awards earned through this card can either be redeemed as cash or utilized differently.

   7. Sell Unwanted Items

One can earn additional income by selling things that are no longer needed. These could be sold online through platforms like eBay or Craigslist or using an app called Letgo. You could also organize a garage sale for this purpose; it will help in decluttering your house as well.

   8. Utilize a Budgeting Application

One way to manage your money better is by using a budgeting application that will help you keep track of your finances and have more money to spend each month as well. Some well-known budgeting apps are Mint or Personal Capital which can also assist with setting financial goals alongside creating budgets based on income levels for individuals or families. This enables them stay organized in their spending thus making deliberate choices about how they use their money.

   9. Stop Buying On Impulse

People tend to spend a lot of extra cash on things they do not need especially through impulse buying. To prevent this stop buying stuff whenever wherever unless it is planned for in advance with an allowance being made at least 30 days before purchase date On your free days stay away from stores as much as possible and avoid places that may tempt you into spending money unnecessarily.

   10. Assess and Revise

It’s important that one looks at their budget from time to time and see where adjustments can be made in terms of saving or cutting costs. The only way someone can know whether they are making any headway towards their financial goals is if they review how much was spent vis a vis what had been planned for regularly so as not lose track altogether.

   Other Tips

- **The 50/30/20 Rule**: This rule states that 50% should go towards needs while another 30% goes towards wants leaving out only 20% which caters for savings and repayments. Required fields are marked * Comment *

- **Avoiding charges**: These include using cash back credit cards, staying away from being penalized due to going past the set overdraft limit among other such measures can also be taken up to ensure someone doesn’t incur unnecessary costs while transacting through various systems which charge different rates depending on where one transacts. .

- **Create an Emergency Fund**: For unexpected events, create an emergency fund that will cover your living expenses for 3-6 months.

- **Invest your Money in a Smart Way**: Diversify your investment portfolio wisely, avoid high-fee investments and have clear financial objectives.

- **Be Organized**: Utilize budgeting apps, keep tabs with what you spend and when bills are due by setting reminders among other things.


By applying these budgeting tips and saving tricks, you can have more money each month and become financially stable. Always remember to track all of your expenses, come up with a budget, differentiate between need and want, make savings automatic, reduce on subscriptions, use cashback & reward systems, sell items that you do not need any more, use an app for budgeting purposes, avoid buying things on impulse as well as review or adjust the budget frequently taking into account changes in income levels or spending patterns. These easy steps will lead you closer towards achieving financial freedom.