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Save Money Right Out of College

30 March 2016 No Comment

canstockphoto3552411Finding ways to save money is important for everyone, but especially for those younger people who are just starting out on their own. If you are a recent college graduate, or moved out on your own for the first time, finding a way to pay all the bills can be difficult, if not seemingly impossible. If you find yourself living paycheck to paycheck, there are a few simple steps that you can take to keep your income flexible and the bills paid on time.

One of the easiest ways for you to save some extra money is to create a budget. The simple act of tracking every dollar that you spend provides a good way for you to determine what can be reduced or eliminated from your life altogether. For example, if you find yourself eating out at restaurants, keep a monthly tab of the bills. Chances are you can take that money spent at restaurants and buy groceries for a whole month. Making your own meals saves you money and can be healthier in the long run. Take a similar inventory of your social activities and look for ways your can cut your spending back.

Another way to keep more money in your pocket is to turn towards your wardrobe. Heading into a professional atmosphere, you will need to have new clothing. Instead of turning to high priced designers, shop at a store like Kohl’s. You can get quality and stylish clothing for a fraction of the cost. You don’t need to dress like you just got of a Paris runway when you are heading into your office or for a night out on the town. You’ll still look great and your bank account will thank you.

Finally, you may have to consider getting an additional job. Many people work part time jobs in addition to a regular nine to five to either pay bills, earn a little extra spending money, or both. If you need another gig to make your rent, then you may have to settle for whatever is available. If you are simply looking for spending money, or a way to set aside extra for savings, you have the luxury of being more flexible with your decisions.

Saving money isn’t always easy, especially when you are young. If you commit to spending less and saving more, you will find yourself in good shape further on down the road.

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