I’m having a hard time saving money. Do you have any practical advice for saving when you have an average income?
One thing I’ve learned over the years is that people only start saving money when they learn healthy money habits — like living on a written, monthly budget — and let their future needs become more important than their current wants. What I’m saying here is it will only happen when you make saving a priority.
Everything doesn’t have to magically line up before you start saving, and there are plenty of easy, practical ways to save money and breathe a little extra air into your finances. The biggest one is by saying goodbye to debt. Monthly payments are the biggest drain I can think of when it comes to saving money, because debt robs you of your income.
Most people are shocked when they realize how much they’re actually spending at the grocery store. It’s easy to walk through the aisles grabbing things on impulse, but it all adds up. Save money on groceries by planning out your meals each week. Here are some other good ideas:
If your goal is to save money, a vacation is just about the worst thing you can do. Finding fun close to home will save hundreds, if not thousands of dollars.
When it comes to saving, Nikki, how carefully and intentionally you spend can be more important than how much you make!
Dave Ramsey is a seven-time #1 national best-selling author, personal finance expert, and host of The Dave Ramsey Show, heard by more than 16 million listeners each week.
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