When you are stuck at a certain salary where your annual increases may be little or none, it sometimes can feel discouraging to think about any opportunity to save money.

There are many benefits to increasing your bank balance and if you are dealing with this scenario, we want to help you so that you can make moves to get ahead and become more financially stable.

When you are on a tight budget, it could seem impossible to accomplish this goal but with some changes in your daily routines and habits, you CAN see results. Below are some strategies that we first began to use when we first started our journey to create a little more cushion in our bank account.

Take Notice Of Your Spending Habits

You know when you are making unnecessary purchases and it is up to you to change this. Sometimes we even have to look into our reasons for wanting to spend money that we know we should be saving. You have to come to the realization that you need to change your spending habits so that you can work towards obtaining your financial goals. Consider changing your way of thinking so that you can develop the mindset of one who saves versus one who constantly spends. When it comes to a moment where you feel the need to buy something, ask yourself “is this a need or a want”? The answer to this question should help in making that purchasing decision. If there is a ‘want’ that you have, look at rewarding yourself with it after you’ve completed a goal.

For instance, commit yourself to saving a certain amount of money in 30 days and if you’ve done it, reward yourself but be smart about it so that you don’t end up having to start back over with financial goal journey.

Stop Eating Out

Take a week and test this out so you can see for yourself how much you save by using this one tip. For one week, eat your breakfast at home, take a sack lunch to work and cook a meal at home. Many stop by coffee and donut places in the morning or fast food restaurants to grab a quick breakfast before work. For one week, eat breakfast at home and brew your own coffee. Pack a sack lunch instead of going out each day and bring healthy fruit to munch on throughout the day. The benefit of this tip is that you not only improve your finances, but you also have the opportunity to improve your health by cutting out all of the fast food purchases.

Cancel Any Subscriptions Or Freeze Gym Memberships

Your focus right now is saving money so any extra money spent on magazine subscriptions and gym memberships can be cut out and alternatives that are free can be obtained. Instead of going to the gym, begin looking into taking a walk or jog. You can also lift weights or do exercises at home. There are also many free workout facilities or trial programs that are free or much less costly that you can consider as well.

Cut Out Entertainment Expenses

If you enjoy going out for entertainment, consider putting a halt to this for a month to see how much you save. Consider taking advantage of FREE things to do instead. Go to a park or lake and enjoy time with family. Look up FREE THINGS TO DO online in your city to find listings. You can also take this opportunity to complete unfinished projects around the house or fulfilling your “things to do” list.

Adjust Your Cable, Phone and Energy Contracts

Are you paying for cable movie channels that you rarely watch? Look into downgrading your service to a plan that fits. You can even consider purchasing a streaming tv and media player and cutting out your cable all together to avoid that monthly cost. I purchased Roku as a gift for a relative and they are so grateful because it has allowed them to really save on their cable bill. Go online and research the different options that are available and see what option would work best for you! Start paying attention to your phone, energy and internet contracts as well. There are many competitors competing for your business. Be sure that you completely understand the terms of each contract that you sign. Also, be sure that you pay attention to any contract you are currently in because some companies charge high fees when you break your contracts so it is important to read your contract thoroughly and understand them completely before making any moves.

Obtaining your financial goals can be very rewarding. The key is to have the willingness and commitment to do what is required. Once you begin to make changes and better decisions with your spending, you can be on your way to obtaining a life that feels more fulfilled. You can have more time to spend time on things that matter versus worrying about bills and debt. It doesn’t happen overnight, but when you start applying some of these strategies, you begin to pay attention to your spending habits more and you also begin to see how you are able to put a little cushion in your bank balance. When you see what you’ve accomplished, it’s such an empowering feeling and it motivates you to do more. We can actually take you on the same journey that we took to improving our finances if you are willing and committed to put in the work. Discipline is required! We are the first to tell you that it’s not easy, but at the end…the rewards can be so plentiful.