Money is great. But what’s hard is trying to balance bills and things you need and want. What a life, am I right? I’m currently trying to save and pay off bills. Adulthood is going great. However, I did buckle down and got smart about how I spend my money and pay off my bills. It’s hard but it’s not impossible. Everyone can do simple things to make things easier! Here’s how to save money & pay off debt.
If you haven’t heard of the snowball method, let me explain. If you have tons of credit card bills, you pay the minimum payment on the big amounts and start paying more into the card or bill with the lowest balance. Once you pay it off, you take that say amount and begin to apply the next lowest and it goes and goes. The goal is to pay off the smaller balances and then having more room to pay off the bigger ones. This is a lifesaver to me and one of the ways I’ve stayed afloat with my debt.
Utilize Your Savings Account
I put money into my savings account every time I get paid! Your savings account is so important. I do it at the start because I know that money is out of the question and can only use what’s remaining. Never underestimate unexpected emergencies. I know far too many people who rely on their back rounding up and putting the change but actually putting more can give you a nice stash for when you need it.
Websites Are Your Friend
I’ve talked about Mint.com before and that’s because it’s amazing! This isn’t sponsored in anyway but I legit love it. You can sync up your accounts, create goals, and it tracks your spending habits and how your debt is decreasing. I see it as a game and love seeing the stats often! But it helps to keep me in check because I see it all in one place and it can be a tough pill to swallow.
Discipline is Key
Probably the hardest but at the end of the day the most important. Discipline dictates everything. You have to learn to say no to necessary expenses and commit to paying off debt. No matter how many habits you try to do, discipline will be what will help. At the start you will think it’s all great and easy, but as life happens it may get harder to not spend or pay a little more to debt. Disciplining yourself will help.
What are your money saving tips?