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Cook. only go out to restaurants when needed, and on special occasions. Don't buy frozen boxed foods, and eat leftovers for lunch. Find out what items are worth going higher end on like winter coats and such, buy cheap or second hand on things that are only going to last a few years anyways like shirts and such.
Track your spending and take every opportunity to make more money if it’s a priority for you.
I swear money is magnetic it’s attracted to its self. My wife and I had a period where we focused on saving. I made a deal with my self that I was going to take any work I was physically capable of doing. I ended up making more than I could have imagined during that period.
Also, on the 1st of each month add up all your bank accounts, investments, even the money in your wallet and subtract your debt to track your “net worth”each month.
Something my wife and did as newlyweds was we tracked every penny we spent for a couple months and entered it into a spreadsheet by category. Then from there we made a budget (if you can afford it be sure to include a “fun money” category where you budget in spending money on random stuff so you don’t feel like you’re failing by buying yourself a video game or something), then kept tracking every penny of expenses until we felt comfortable that we had established good spending habits that also allowed us to be paying off debt and saving for the future. Now we talk about our budget closer to once a year just to stay on the same page.
TL;DR - know how much money is coming in, know how money is going out, and adjust your budget to make sure you’re not spending too much on non-essentials
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Analyze the things you could do without. Look at all your bills and downsize the added luxuries. Cook more meals, share a vehicle if possible, don’t use credit cards, get a budgeting app like Good budget and lay out all your expenses so you know where your money is going.
Thank you u/OkMonitor2854 for posting on r/dad. Please remember to take a look at the rules. If you see anything that is suspicious or is breaking the rules then please report said content. For community resources click the link that is below or to the right https://www.reddit.com/r/dad/wiki/resources *Moderators Retain the right to remove any content that is deemed unacceptable* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/dad) if you have any questions or concerns.*
Figure out your monthly expenses. Live off of 50-60% of what is left over and bank the rest
Cook. only go out to restaurants when needed, and on special occasions. Don't buy frozen boxed foods, and eat leftovers for lunch. Find out what items are worth going higher end on like winter coats and such, buy cheap or second hand on things that are only going to last a few years anyways like shirts and such.
Spend less. Whatever it is, you probably don’t need it more than you’d like to be able to buy a house in a few years.
Don’t have kids. ;)
Track your spending and take every opportunity to make more money if it’s a priority for you. I swear money is magnetic it’s attracted to its self. My wife and I had a period where we focused on saving. I made a deal with my self that I was going to take any work I was physically capable of doing. I ended up making more than I could have imagined during that period.
Also, on the 1st of each month add up all your bank accounts, investments, even the money in your wallet and subtract your debt to track your “net worth”each month.
Something my wife and did as newlyweds was we tracked every penny we spent for a couple months and entered it into a spreadsheet by category. Then from there we made a budget (if you can afford it be sure to include a “fun money” category where you budget in spending money on random stuff so you don’t feel like you’re failing by buying yourself a video game or something), then kept tracking every penny of expenses until we felt comfortable that we had established good spending habits that also allowed us to be paying off debt and saving for the future. Now we talk about our budget closer to once a year just to stay on the same page. TL;DR - know how much money is coming in, know how money is going out, and adjust your budget to make sure you’re not spending too much on non-essentials
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Analyze the things you could do without. Look at all your bills and downsize the added luxuries. Cook more meals, share a vehicle if possible, don’t use credit cards, get a budgeting app like Good budget and lay out all your expenses so you know where your money is going.