Saving Money During Hard Times

You're reading Saving Money During Hard Times, posted on Wednesday, October 8th, 2008 at 2:15 pm in Finance Advice, on BrainBloggers at the Finances And Money blog. More after the jump.

In this time of economic crisis many of us are beginning to feel how hard it can be to try to fend for ourselves. There are simple steps we can take to make sure that we save our money for an emergency.

Get Paid What You Are Worth

Many people will work at a job and get underpaid for it. This happens more often in small towns. Do a job search in your marketplace and compare how much you are getting paid for the skills that you have and how much you contribute to the company. You may find that they are not paying you enough or that you may be in the wrong job. When you are not getting paid what you are worth you could be losing close to a thousand dollars every year.

Spend Less

Spending less is always easier said then done. Many of us will buy things on impulse without thinking of the consequences. Try not to pay out more then what you are worth. This may pertain to the fun things that you do or even to some of the bills that you have. When you cut back on a few things you could save yourself at least a hundred dollars or more a month.

Savings Plan

At the beginning of each month you need to set aside a certain amount of money into a savings account. Make sure you put in enough – but not too much to break you. Don’t wait until the end of the month and after you have paid your bills to do this. Most months you will not have enough or any to put in. If you deposit it at the beginning of the month then it won’t be there for you to spend on other things.