How Much More Money Could You Be Saving Each Month?

Your monthly savings might not look great right now. You might be able to put $20 away per month, and you’re doing your best to up this number to $30 and beyond – but it’s just a little too tricky! But don’t despair for too long – your financial health can change over time, and you don’t have to wait for it to get better in 5 or 10 years. In fact, there’s a lot you can do right now to pad out your savings, and month by month, you might find you can save upwards of 20% more than you usually would be able to.

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Cancel a Subscription, No Matter How Small

No matter what subscriptions you’ve got, remember that they’re all costing you money month by month. Netflix is taking $10 to $20 here, and Amazon Prime is doing the same, and if you’ve got some kind of food subscription on top, you’re likely paying $40 per box of that as well!

And these all add up in the end; you could even be paying upwards of $70 per month on entertainment, and let’s face it, you don’t really need all of it! So just cancel one, and next month, cancel another, and don’t take on anymore without cancelling one in its place. This could save you at least $10 per month, and that goes straight back into the savings.

Take Some Pressure Off with Insurance

If you really want to think about your future saving potential, try to reduce the need to spend your savings as much as possible. For example, take out an insurance policy to help cover your life, possessions, and your health – insurance can really help out when you’re in a tight spot, thanks to the amount of situations you can claim a payout in.

And if you’ve got something like a life insurance policy to benefit from, which experts like Shawn Meaike often recommend to assist with family wellbeing, you can worry less about emptying that savings account. After all, you can now expect either a weekly or lump sum payout in case of an emergency or a loss, which will help to keep up with bills while you build your financial health back up.

Learn How to Bulk Buy

Bulk buying is a bit of a talent, and knowing when the sales come out in the supermarkets is a skill a lot of people haven’t quite grasped. Of course, when you come across a sale you can use a coupon top to help the price go down even further, but only try to shop when you know the items you want to get are going to be discounted. This way you can shave hundreds off of your monthly shopping bill, and that goes back into the savings to be used on a rainy day.

You could be saving a lot more money each month, but the standards vary depending on your lifestyle. Take stock and see where you can reduce.

Your monthly savings might not look great right now. You might be able to put $20 away per month, and you’re doing your best to up this number to $30 and beyond – but it’s just a little too tricky! But don’t despair for too long – your financial health can change over time, and you don’t have to wait for it to get better in 5 or 10 years. In fact, there’s a lot you can do right now to pad out your savings, and month by month, you might find you can save upwards of 20% more than you usually would be able to.

Pexels Image – CC0 Licence

Cancel a Subscription, No Matter How Small

No matter what subscriptions you’ve got, remember that they’re all costing you money month by month. Netflix is taking $10 to $20 here, and Amazon Prime is doing the same, and if you’ve got some kind of food subscription on top, you’re likely paying $40 per box of that as well!

And these all add up in the end; you could even be paying upwards of $70 per month on entertainment, and let’s face it, you don’t really need all of it! So just cancel one, and next month, cancel another, and don’t take on anymore without cancelling one in its place. This could save you at least $10 per month, and that goes straight back into the savings.

Take Some Pressure Off with Insurance

If you really want to think about your future saving potential, try to reduce the need to spend your savings as much as possible. For example, take out an insurance policy to help cover your life, possessions, and your health – insurance can really help out when you’re in a tight spot, thanks to the amount of situations you can claim a payout in.

And if you’ve got something like a life insurance policy to benefit from, which experts like Shawn Meaike often recommend to assist with family wellbeing, you can worry less about emptying that savings account. After all, you can now expect either a weekly or lump sum payout in case of an emergency or a loss, which will help to keep up with bills while you build your financial health back up.

Learn How to Bulk Buy

Bulk buying is a bit of a talent, and knowing when the sales come out in the supermarkets is a skill a lot of people haven’t quite grasped. Of course, when you come across a sale you can use a coupon top to help the price go down even further, but only try to shop when you know the items you want to get are going to be discounted. This way you can shave hundreds off of your monthly shopping bill, and that goes back into the savings to be used on a rainy day.

You could be saving a lot more money each month, but the standards vary depending on your lifestyle. Take stock and see where you can reduce.

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