Are you like millions of Americans who struggle to make ends meet each month? In a recent study, 79% said they were “somewhat or incredibly stressed about not having enough money to meet their needs today” [source].

This is no way to live. If you can relate, then there is good news: You can get a month ahead financially – even if you have little to no money in the bank. Follow these tips below, and you’ll be on track before you know it. 

1. Track Everything You Buy

Have you ever reached the end of the month and realized there is nothing left of your paycheck? Do you spend time trying to figure out where all your money went? It’s easy to burn through your paycheck if you don’t pay attention to your spending. Let’s be real: A lot of money leaks out because we mindlessly make impulse buys, whether a high-priced coffee or soda pop.

Put an end to mindless spending by tracking everything you buy. Create a budget and stick to it. Don’t toss receipts or ignore “small” purchases. Instead, deduct these splurges from your budget and see how much money you have left. The goal is to track what you buy so you can ultimately spend less than you earn. Open your eyes to where your money is going and get ahead financially. 

2. Cancel Everything You Don’t Need

The average U.S. household spends $47 a month or $564 a year on streaming service subscriptions [source]. This number does not include any other types of subscriptions, such as gym memberships or food or beauty subscriptions. 

While these things may seem like a good idea at first, they add up quickly. And, sadly, many of them go unused. Save money by canceling old, forgotten subscriptions. 

How to cancel forgotten subscriptions with your iPhone.

Open settings. Search, “Subscriptions.” Click “Subscriptions.” See your active Apple subscriptions. 

3. Be Intentional: Buy Only What You Need

Most people say they create a budget, but the truth is, they don’t follow that budget. And, the results ain’t pretty: They overspend by more than $140 a week. By the end of the year, the average person spent $7,400 more than budgeted [source].

If you want to get a month ahead, avoid overspending by being intentional with your purchases. Make it a goal to only buy what you need. Think of it as a contentment challenge. Every time you are tempted to buy something, ask yourself if it is something you need or something you want. Overspending is stressful. Mindful spending is calming. Buy only what you need.

4. Squirrel Away Extra Cash for Growth

You know that frequent small purchases can wreak havoc on your savings. Flip the script. Small, frequent deposits into your savings really adds up. Try to save 5% of every paycheck. If you receive any financial gifts, put this money away in your savings account. Pick up a side-gig for some extra income. Treat every bit of “extra” as a means to get ahead financially. Squirreling a little bit away at a time will help you save up quicker than you imagined.

5. Cook Your Own Meals

One of the fastest ways to get ahead is to cut back on dining out or avoid fast food drive-thru lanes. Instead, pack lunches for work and cook dinner at home. According to the Bureau of Labor Statistics, the average annual expenditure on groceries in the U.S. is $4,464 per person, while dining out runs Americans an average of $3,459 [source].

You would be amazed at how much you can save by cooking at home. The price markup in restaurants is significant because they have to cover the costs of all staff, benefits, insurance policies, building and equipment maintenance, and so many other items. The average food markup is about 60% and some beverages are marked up as much as 500% [source]. 

Save more money! Read these next…

Save at your favorite stores:

Want more life hacks? Check these out…

Want to save these tips for later? Click here to pin this post!

Be sure to follow us on Pinterest for more money-saving life hacks!

*Capital One Shopping compensates us when you get the Capital One Shopping extension using the links we provided*