'Like A Boss' - Four Steps to Prepare For Savings In 2013 | My Debt ...

Have you heard the phrase ?Like a boss?? It?s quite a phrase, since its 2009 release it?s become an internet meme and made stars of the band The Lonely Island.

But with 2013 coming ever, maybe it?s time to stop trying to save money, and time to start saving money ?like a boss?. Here are a few tips that might help

Step One: Budget Like A Boss

The first step on your savings plan is to work out what you?re spending and where you?re spending it.

There are many people that just start spending money from payday, and they only start looking at their bills when the money is gone; this is less than ideal and leaves you open to getting caught short by an unexpected bill.

There?s a more sensible approach you can take here by working out how much cash you?re going to have on hand each month, and how much you?re going to have after you?ve paid all of your bills. Devote a portion of this to your savings each month, and you should have a concrete amount of how much money you have to spend. Only your essentials like rent and transport should be on the budget, going to the cinema is great fun but not quite a luxury.

Is your budget looking ready to go? On with the savings!

Step Two: Shop Like A Boss

Everyone needs to eat, but that doesn?t mean you need to pay over the odds for food. Your weekly food shop could be eating into more than its fair share of your budget.

Unfortunately, not all products were created equal, and they?ve got the prices to match. While there are some items you buy for taste you should try to ?buy down? a level, instead of the premium brand you could try buying the supermarkets own. For your basics just stick to buying the value brand.

Conventional wisdom holds that by planning your meals in advance will save you plenty; but if you?re not fussy about what you eat, you can usually find an evening meal for a fraction of a price in the reduced section of the supermarket.

Step Three: Buying Like A Boss

No matter how well you save, eventually you?re going to spend some serious money on something. Don?t stress about it, just make sure you?re making the right purchase.

There are 3 questions to ask yourself before you spend big.

The first, ?Do I really need this item?? if you only need the item for a short time, renting could be a better option. If you?re buying it because it looks cool, you don?t need it. Save the money for other important items.

Secondly, when you?ve decided you need it. Is ?am I spending money on features I don?t need?? as any good salesman will try to sell you the most expensive thing they can. While that super expensive digital camera might wow you in the shop, but do you really need that 42x zoom and 6 lenses? Buy what you need, not what you think you need.

Your final question is ?Am I spending too much on something I?ll barely use?? this isn?t quite the same as making sure you?re not overspending on features you don?t need, but spending ?500 pounds on a bike you?ll barely use. Compare your need for the product with the price, and consider buying cheaper.

Step Four: Keep At It!

So, you?ve started shopping like a boss and buying like a boss; with a bit of luck your finances should be looking up already. Just remember to keep saving so you can enjoy financial security!?

About the author : Amie currently works as a freelance finance consultant in the UK. In her spare time she enjoys learning about Fixed Rate Savings on sites like Fair Investment Company ? Click Here to find out more.?

Source: http://www.mydebtreliefplan.com/2012/12/like-boss-four-steps-to-prepare-for.html

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