Most people have a hard time saving money.
According to various financial institutions, about 20% of Americans have no retirement savings and about 70% have less than $ 1,000 in a savings account.
But the age-old question is, how do you save money when you have nothing to save?
Here are some simple things you can do.
If you haven’t already, try changing your TV service first.
Of course, there are apps like Netflix and Disney + that are significantly cheaper than cable, but there are even apps like KSAT-TV that are completely free. Don’t forget that broadcasting wireless channels is also a free way to receive local television.
According to the balanceAnother thing you can do is stop or cut back on eating or find ways to freshen up leftovers. You can also save money by buying frozen or canned fruits, beans, and vegetables.
Next, use cash.
Many financial experts agree that using cash gives you a real limit on your spending and helps you make better decisions. When you need to give your money away, think twice about spending it more easily.
Food and entertainment are two categories where you can try this out.
The fourth thing you can do is try to lower your credit card debt. Interest in credit cards can be a budget killer. Top money experts say you start with the card with the lowest balance first, and then when that pays off, use the money you spent on that card and put it in another card.
After all, you can pay off things and put money into savings.
Finally, ask about discounts.
Whether it’s your phone bill, medical bill, or student loan, sometimes it can actually be helpful if you ask nicely for help. It never hurts to try and the worst thing they can say is “no”. But if they say yes, use what you have saved.
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