How I Saved $300 (In A Month!)

We can all relate to the struggle of trying to stretch our hard earned dollar. From time to time you just wish you made a little more. Most of the time that's not possible, so the next best thing is to save what you have. Easier said than done, but that's exactly the challenge I set for myself and I managed to save $300, here's how.

The first thing to do is to understand where you're money is coming from and where it's being spent. Seems simple, but often times we get wrapped up in life and don't stop to think about it. Sitting down and really auditing where my money was moving was the best thing I could have done. Having a written structure of exactly how much money I was earning and what my necessary monthly expenses were really opened my eyes. I quickly realized I could be saving a lot more if I just cut back on unnecessary expenses. So I set myself a few rules.

Rule #1 - Set monthly spending budgets for regular purchases.
The big one here is groceries, instead of spending blindly on whatever I happen to throw in the cart, really think about if you need it, if there's a cheaper off-brand alternative or only buying if there's a sale. Set limits for other expenses too, such as clothes .or movies

Rule #2 - Cut subscriptions
I haven't been to the gym in months, but I was still paying for it. There comes a point where either have to accept that you're not going to use it, or actually go. I chose to save the money. I also discovered that my wife and I were both paying for our own separate Amazon Prime accounts, we can easily make do with just one.

Rule #3 - Stop eating out (this one helped a lot)
After making a plan for grocery spending it became much easier to prepare meals and this helped to avoid spending on fast-food. Even though it's convenient to grab something quick for lunch, these costs can add up very quickly. It also leads to healthier eating!

I hope this has helped and I encourage you to take a closer look at your finances to see where you can save. It can be tough being broke.

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