Save money
Photo by RODNAE Productions from Pexels

Save money: 5 simple tricks to have cash for a rainy day

Having money stored away safely while you manage your daily expenses is one of the best feelings in the world. Some people save money for specific reasons like making a down payment on a car or house while others do it for retirement or peace of mind in case of an emergency. It is great to know that you can fall back on your savings if you have medical bills, you need to travel for an amazing opportunity, or you happen to lose your job.

Trying to save money on a tight budget however can be very frustrating. You feel like you do not enjoy the luxuries in life and you have nothing left over for a rainy day. You may feel hopeless when it comes to saving money and simply live from pay cheque to pay cheque.

But, have you ever noticed that whenever an emergency arises, you suddenly find a way to pull through? You either allocate your money for expenses differently or you borrow it from someone and pay it back as soon as possible. If this happens to you, then why is saving money so hard? Here are 5 simple tricks for you to save money and make your life a whole lot more comfortable.

5 simple tricks for you to save money

1. Cut back on expenses

This may come as a surprise, but some of the expenses you have are really not things that you need. If you have more than one TV, cable, air condition units, incandescent bulbs, a water heater, or water pump, then you can cut your electricity bill drastically by living without these things. You can also replace a high-maintenance vehicle, prepare meals at home, and find cheaper forms of entertainment to save money.

2. Hold off on upgrading

Another way to have cash to save is to change your mindset when it comes to upgrading things. Having the latest of everything is a lifestyle choice and not a requirement. If you have a functioning phone, car, TV, game console or wardrobe, you can survive without a new one. Saving money is far more important than looking good and impressing friends so think about your future before you think about upgrading.

db3dba8f b1d7 40a8 a775 978a11a850a8.b5ebab5ef29a3f5da2a7d2f0334ce676

Apple MacBook Pro, 13.3″ Laptop, Intel Core i5-3210M, 4GB RAM, 500GB HD, DVD-RW, Mac OS, Silver, MD101LL/A (Certified Refurbished)

The MacBook Pro features a sharp LED 13.3″ TFT glossy display and a powerful Intel i5 Dual Core 2.5GHz processor with 4 GB of RAM and 500 GB SATA hard drive to accommodate all of your needs, It’s integrated Intel HD Graphics 4000 processor provides beautiful graphics. With the integrated 720p FaceTime HD webcam and AirPort Extreme (802. 11a/b/g/n) Connectivity you could keep in touch with your loved ones on the go.


3. Set aside a fixed amount

Once you have reduced your unnecessary spending, you are ready to set aside a fixed amount of money to save. Make a realistic budget that covers all your basic needs and make plans for the remaining money no matter how small the amount. Hide at least $500 a month if you have a small salary. Aim for $1,000 if your income allows it. This type of saving has absolutely no risks except you being tempted to spend it before it accumulates. Control yourself and save money wisely.

4. Invest in trustworthy opportunities

You can also save money by putting your earnings in a low yield, low risk, long-term investment plan that has a guarantee on the initial investment. Many financial institutions offer different plans that allow you to store your money with them for a long time and get interest on it. Talk to a reputable financial advisor about an investment package that is suitable for your needs.

18423716 1462464370440695 4406336226492709511 n 1

At Personal Capital our advisors are here for you online or by phone.

Thanks to our technology, which we’ve been refining for over a decade, you and your advisor can work together seamlessly—no matter where you are. You both see virtually the same information in real time, so you can make informed decisions about your financial strategy.

5. Take a loan to save

Taking out a loan from a financial institution to save money is an effective way to ensure that you stick to your plan. The interest that you pay on the loan may sound unreasonable if you think you could save money on your own. However, if you still have no savings, then the interest you pay is worth having a fixed deposit full of money in the end. Here is what to do. Save money and open a fixed deposit. Use it to secure a loan for almost the same amount for 6 months. Add the borrowed money to the fixed deposit. Pay back the loan within the period and reinvest it. Do this repeatedly.

Every month in 2023 we will be giving away one PlayStation 5. To qualify join our Facebook group, TikTok and Subscribe to our Sweet TnT Magazine YouTube channel

When you buy something through our retail links, we may earn commission and the retailer may receive certain auditable data for accounting purposes.


You may also like:

Pros and Cons of Investing in Renewable Energy

How to save money on a low income

Adulting: 6 unquestionable things you should be doing at 18

Graphic Artists can make money from home

Honeygain: Earn money for your unused data

Make money while being realistic

6 Benefits of having an international merchant account

The importance of cybersecurity in mobile banking

samsung galaxy s21 5g phantom grey 128gb and 8gb ram sm g991b

Galaxy S21 | S21+ | S21 Ultra

Galaxy S21 Ultra

5G6.8-inch Display From $599.99ᶿOriginal Price:$1199.99

Galaxy S21+ 5G

6.7-inch Display From $399.99ᶿOriginal Price:$999.99

Galaxy S21 5G

6.2-inch Display From $199.99ᶿOriginal Price:$799.99

About Sweet TnT

Our global audience visits daily for the positive content about almost any topic. We at Culturama Publishing Company publish useful and entertaining articles, photos and videos in the categories Lifestyle, Places, Food, Health, Education, Tech, Finance, Local Writings and Books. Our content comes from writers in-house and readers all over the world who share experiences, recipes, tips and tricks on home remedies for health, tech, finance and education. We feature new talent and businesses in Trinidad and Tobago in all areas including food, photography, videography, music, art, literature and crafts. Submissions and press releases are welcomed. Send to Contact us about marketing Send us an email at to discuss marketing and advertising needs with Sweet TnT Magazine. Request our media kit to choose the package that suits you.

Check Also

Nomadic money mastery

Nomadic money mastery: Balancing work and travel for young professionals

Are you a young professional who wants to travel the world and have a reliable …

Agricultural equipment finance

Agricultural equipment: The value for farmers in finding the right finance professionals

The farming and agricultural industries provide a tough way to make a living. Hours spent …

Leave a Reply