5 Tips To Save Money In 2020

Are you looking for ways to save more money in 2020? Then you’ve come to the right page! We’re about to welcome a New Year and with it comes a flurry of our resolutions that we (hope) aim to achieve within the next year. Some of the most common resolutions are losing weight, committing to an active and healthy lifestyle, and saving more money.

In this post, we’ll talk about some tips that will help you save more money.

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1. Set A Goal

How much money do you want to save in 2020? Having a goal creates something specific in your mind. When a goal is specific, you’ll likely take better actions to achieve it because you know what exactly it is that you want. Thus, this increases your chances to reach success.

2. Be Mindful Of Mindless Spending

It’s crucial that you know where your money is going. In 2020, why don’t you be more active in tracking all your expenses especially unnecessary ones?

Tracking your expenses is now easy — there are apps that you can download, which will let you easily track where your money is going. Precision Funding recommends to their mortgage broker clients Mint or PocketGuard for apps that you can use to track your expenses.

3. Never Pay The Full Price

Next year, be more proactive in buying sale items and be on the lookout for discounts that will let you not pay full prices. In order to be the first one to know about ongoing sales and discounts by brands that you love, you can sign up for newsletters, follow them on social media, etc.

4. Save Automatically

Why don’t you schedule a recurring amount of money to be saved? Do this every month and you get closer to reaching your goal of saving more money in 2020. The automation is a huge relief and prevents you from forgetting about it. If you can, you can ask your employer to have a part of your paycheck directly deposited to a savings account.

5. Avoid Impulse Buys

Nowadays, it’s so easy to purchase things. This coming year, instead of clicking that buy button or buying that pair of shoes you see through the shop’s window right away, give yourself 24 hours to think about it.

If the next day you’re still thinking about it and you think it’s something that you’ll be able to put to good use, then you can purchase it. Allow yourself to think about a purchase for at least 24 hours.

Saving money isn’t easy! However, these tips will help you kick off the new year with a tighter grip on your money.

It would also be a good idea if you can find a buddy that shares the same goal as you. This can help motivate you to stick to your goal. You can share your progress with your buddy and you can also ask them from support, especially during the times when the impulse to buy something unnecessary gets so strong.

If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.

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