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Laurie Blank of Clark.com reveals smart tips on how to avoid spending & start saving when on a tight budget! No matter your budget, here are 4 tips to ensure you are adding to your savings account every paycheck.

1. Create & Adhere To A Budget: Believe it or not, a budget will give you more control of your spending, not less. Along with a budget, make sure you track every single purchase. Once you start to budget and track your spending, you’ll be able to see where your money goes.
2. Make Saving Non-negotiable: Treat your savings like it’s a bill. Imagine your savings as a credit collector who comes to your door to collect their money. The second you get your paycheck, add your savings right then and there. Laurie Blank writes, “You would never let a car payment, house payment, or rent go unpaid… Have that same attitude with your saving. Treat it like a bill, and pay yourself first — even if it’s just 1%-2% of your income each payday.”
3. Reduce Unnecessary Expenses To Increase Savings: If adding money to your savings every paycheck is becoming difficult, you may need to cut down on some unnecessary expenses. Go through your bank statements and cut down on the monthly expenses that you rarely use. You don’t need Hulu, Netflix, HBO Max, Disney Plus, AND Amazon Prime. Instead, narrow it down to 1 or 2 streaming services. Also, do you find yourself eating out a lot? That’s usually around $11-15 for a meal plus a 20% tip for your server. That turns into $15-20 for lunch every day. Make your lunch at home a few times a week and you’ll see a lot more money in your bank account.
4. Put “Found” Money Into Savings: ‘”Found’ money is money you didn’t plan on having in the first place”. Some examples of “found” money are tax returns, birthday money, Christmas money, the money you found in your jean pocket, the money you receive from selling used items, etc. Since it is extra money, promise yourself to use it for good and put it in your savings.

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