It is advisable to cut down expenses on everyday items like groceries and household essentials. Thus is because it has a huge impact on our finances. You could consider using coupons, shop during sales, and buy in bulk too
Share tips on how to save money and achieve financial freedom
- Thread starter uptrendfinancialsignal
- Start date
- Thread starter
- #3
You can start to implemented a '30-day rule' when shopping online and if you still want something after 30 days, you would consider buying it.
- Thread starter
- #5
You should look into canceling subscription services like streaming platforms and gym memberships too because it will help you free up so much money in your budget.
- Thread starter
- #7
It is critical to creat a budget and tracking expenses with apps like Mint or Personal Capital . This would help you stay on top of my finances and make smart decisions as well.
- Thread starter
- #9
Using the 50/30/20 formula has helped so many people to allocate their income wisely. 50% would go to necessities, 30% would go to discretionary spending, and 20% would be for saving and debt repayment.
Make saving as a habit no matter how difficult it is for you to do that and look for instruments where you can invest your savings
I put a portion of my monthly earnings into a fixed deposit account. I never spend more than I earn. I look for good deals such as buy one get one free.
I have been doing my shopping in bulk and that works so well for me. I get to enjoy lesser prices on items and I don't have to struggle buying things daily. I have also been learning investment strategies that will help me invest and grow my wealth.
To save money, I prepare home-cooked meals, check out discounts, compare prices, and many more.
Some tips for saving money and achieving financial freedom are;
- creating a budget
- setting financial goals
- living below your means
- building an emergency fund
- investing wisely
- maximizing income
- minimizing expenses.
- creating a budget
- setting financial goals
- living below your means
- building an emergency fund
- investing wisely
- maximizing income
- minimizing expenses.
