If you don’t like the hassle of going to the grocery store every week, try ordering your vitamins, supplements, and healthy foods online with Vitacost.
Vitacost offers up to a 50% savings on healthy retail products that you want and need. Also, you can enjoy Free shipping on all order over $49.
If you want to save an additional 20% on all of your health products, join Vitacost today!
18. Save Money on Household Items and Food Purchases
If you thought Overstock was just for household items and furniture, think again. Overstock lets you save on everything from gourmet cheese products to juicy steaks.
If you want healthy and inexpensive food delivered right to your front door, try shopping on Overstock.
Habit #8: Spend Money With a Budget
One of the best ways to avoid being poor, is to make and stick to a budget. Developing and sticking to a budget may seem mundane and restrictive, but it can be one of the best ways to get your spending under control.
There are many different budgeting strategies that can fit your lifestyle and spending habits. One of the more popular methods is using the 50/30/20 rule. This means you will use 50% of your income on necessities, 30% on luxuries, and 20% on savings.
Using this method will help you organize your finances. It can also help you determine where you may be overextending your income.
Here are some other budgeting tips that can help you avoid being broke.
19. Live Below Your Means
Many Americans struggle to love within their means, not because they don’t make enough, but because they spend more than they earn. According to Bankrate, most Americans don’t have enough to cover a $1,000 unexpected expense.
To avoid going into debt due to an unexpected expense, you will need to review your income and expenses. Review you budget and make sure your spending less than you earn. If you’re spending more than you earn, you may need to cut your expenses.
20. Track Spending Habits
If you don’t know where your money is going, how can you expect to make adjustments. In order quit your poor spending habits, you will need to track your purchases.
Start by reviewing your bank and credit card statements for a few months. This will help you check where your money is going and determine your poor money habits.
Once you discover the spending habits that are keeping you poor, you can begin to making adjustments.
For example, if you discover you’re visiting Starbuck 5 times a week, try cutting your visits to once a week.
21. Make Investing Part of Your Overall Financial Plan
Earning more income, cutting expenses, and saving more money can only go so far when it comes to building wealth and saying goodbye to being broke. At some point, you need to invest a portion of your income to provide long-term financial gains. While there are ups and downs in the stock market, generally a long horizon the market will be higher. That’s why so many people invest.
You have available several avenues to invest. Many workers’ first introduction to investing is with a 401(k) retirement account offered by their employers. There are apps to get you investing, and there are financial advisors. The key is to get started as early as possible and be consistent while understanding there is a risk.
Mainvest Provides Regular Folks Chance to Invest in Local Companies
The American Dream embraces many ideals, like building your own successful business. Not everyone can risk what it takes to be a business owner, but you can be part of a winning team that invests in local businesses, helping them launch or expand.
Mainvest is a crowdfunding platform that joins small- to medium-businesses and willing investors. For many companies, all it takes is $100 to become an investor. Like all investments, there are risks. But with Mainvest, they vet businesses to ensure they have a high probability of returning money to investors.
22. Automate Your Savings
Automating your savings can help you drop the temptation to skip a contribution or use your savings for other purposes. To set up automatic contributions, visit your bank or financial institution to set up an automatic bank transfer from your checking to savings account.
Even if you have to start with a small contribution, the goals is to simply start. You can increase your contribution amount, as you become more comfortable working within a budget.
Alright, those are the easiest ways to stop being broke and start saving money!
Save More Money! Read These Next:
- 9 Dave Ramsey Tips You’ll Wish You Knew Sooner
- 5 Things Frugal People Never Buy (and you shouldn’t either)
- 7 Bad Habits That Are Keeping Your Poor Without Realizing It
Save Money At Your Favorite Stores:
- 9 Ways to Save Money at Aldi
- 10+ Things to Always Buy At Dollar Tree (+ what to avoid)
- 6 Must-Try Walmart Shopping Hacks
