How to save money every week
The biggest cost-expensive post for most people is food & beverage. At the same time, we throw between 30%-50% off all foods that is produced. Americans er throwing away 40m tons of food every year, and is one the countries that throws away the most. Norwegians however spend 11% of their consumption on this post, that is quite high.
So therefore, my guess is that most people are buying more food & beverage then they actually need. When I lived with my parents I noticed this first hand, the fridge was always full, and we ended up throwing a lot of food just because my parents were bad at planning ahead and making full use of the items stored. I realized later when I moved in with my girlfriend, that throwing away unused items/food is like throwing away money, and that is bad for business.
House, Fuel & Lightning
Norwegians are also very good at spending money on fixing their apartments/houses, lights and fuel. As much as 22% of the consumption goes to this.
This is not something me and my girlfriend spends much money on, mainly because we do not own our own house/apartment yet & also because we want to live minimalistic and save as much money as we can. We also do not have a car, so not using anything on fuel. Lights however is gonna be a thing I am gonna spend some money n later, because I want a smart home.
Transportation, cars & fuel
It is not a surprise that the second largest post is transportation, car purchases & fuel for the car. Norwegians spend as much as 15% of the consumption on these things every single year.
That is quite a lot, and yet again me and my girlfriend is coming out of it great again, since we do not have a car. We do not have to buy fuel, and we also live close to the centre & to the school, so we do not spend anthing on transportation either.
Easy ways of saving more
How do I save money?
I save money where I can. The first post I am looking at, is the food & beverage post. Me and my girlfriend are always planning ahead and making sure we are buying items that can be used together in different kinds of dishes, that way you can make the most out of the items buy & and you get more dishes/dinners every day. Perfect example to this, is that we purchased all we needed for this weeks dinners on monday, and the total ended up with $50.30 for the whole week.
And the crazy part about this, is that the total is for two people. Two people spent $50.30 on dinners for the whole week. In norwegian crowns that amount equals 468 NOK.
Make a budget
Making a budget is a great thing to see your expenses and income. It is also a fantastic way to see what categories you spend the most money on and what category you spend the least at. This way you can easily track your numbers and make cuts on several categories that you do not need to spend as much as you are.
Stay focused and motivated on your budget
A budget is only a tool, in the end you are the one that needs to make sure that you stay on course and actually track the numbers. Also make sure to make changes on the categories if you can, such as me and my girlfriend did. We spent that little now, but we did not start at that amount when we started budgeting.
Tools for budgeting
There are many great tools out there to make budgeting easy. Me for instance is using Numbers app on my apple products & Revolut as my bank account. Revolut offers amazing tracking functions on your spendings. It lets you make categories, or place your purchases in already existing categories.
Numbers app/ExCel is also a perfect way to to track your budget. And the fact that both can be found on your phone too makes everything easier. What is better than to have a portable budget? Not much.
Dronning Mauds gate 12