POPSUGAR

The Trick to Saving Money? Slash Costs From Top Down

Feb 25 2020 - 9:05am

Business and financial concept

It's great to cut back on the small stuff [1] by skipping your morning store-bought latte and bringing lunch to work, but what's really going to make a huge difference is saving on the big items. In fact, cutting back on the small purchases can backfire on you [2] because it can feel like you're depriving yourself and may cause you to revert back to old ways.

To make great strides forward, the key is to focus on the big picture, then work your way down to the little things. Start with your biggest expenses, which include housing and transportation, then work your way down to the smaller spending categories, like weekend entertainment. Get started on this top-down saving method with these tips from Forbes:

Before you start plotting to do away with your Starbucks habit, tackle your most expensive purchases first to make greater headway toward your saving goals. But remember to do what works for you and your lifestyle. How have you saved on the costlier expenses in your life?


Source URL
https://www.popsugar.com/money/Most-Efficient-Way-Saving-Money-19147182