60 Genius Tips To Save Money Before Turning 40 In 
The costly living of today put a lot of strain in your pocket. It is likely possible to make bad financial decisions in life but by forming a good savings habit you can able to enjoy your life in a stress-free manner. It is important to keep a track on your income and expenses. Spending and saving money is all about choices. Therefore, it is important to learn about allocation of your finances, so as to make way for satisfying your wants and needs.
Here is the ultimate guide to save money before turning 40
1.) Be Realistic About Your Incomings And Outgoings
For developing a habit of saving money, the first and foremost thing that you should do is create a budget. You need to be realistic about all your income and spending. You should exactly know what money you have and when you will have it.
2.) Check For Interest Rate For Savings Account Both Offline And Online
Make sure you are getting the best interest rate for your savings account in a bank or from online saving account.
3.) Know Your Net Worth
This is the sum total of your assets (bank account balances and investments, etc.) minus your debts (personal loans, home loans and credit card debt, etc.). Get a big-picture perspective on your finances by knowing your net worth.
4.) Not To Miss Credit Card Payment Dues
Missing out on your credit card payment dues will hit you with a big charge. Therefore, you should set up a direct debit payment option to make sure you never miss the due date.
5.) Pay Your Credit Card Bills In Lump Sum
It is easy to pay a minimum credit card bill payment but that will hurt you in future when you need to pay a whole lot of money. Therefore, it is important to pay off the entire credit card bill at a time.
6.) Use Credit Card Rewards Wisely
A lot of credit cards now offer cash back and reward points that you should use wisely to make an important purchase. Make sure you research carefully about what you can do with the reward points.
7.) Know Your Credit Score
It is important to have good knowledge about your credit score. The more you pay your bills on time the more you can build your credit history strong. Having a good credit score can help you apply for a loan with best possible rates.
8.) When Possible, Pay With Cash
This may not be possible every time but when making purchases at local retailer outlets you must use cash. You will see a big difference in your credit card bills when you use cash for small day to day purchases.
9.) Avoid Signing Up For Department Credit Cards
For your first purchase many departmental store credit cards offer you 10% off on all your purchases but they can be too tempting for your pocket. They charge you a very high interest rate and there will also be high late payment charges.
10.) Make A Grocery List And Stick To It
As far as grocery shopping is concerned, there are number of things you can do to cut down your spending. First don’t shop without a list. Make a list of all those daily day-to-day things that you may need in a home. If you don’t have a list, you may end up buying more than you need. Avoid impulse buying and instead go for smart buying. Remember to stick to your list. Don’t be tempted towards ongoing offers or expensive purchases.
11.) Cut Down On Outside Food
Avoid dining out every alternate day. Keep it for special occasions only. A lot of money can be saved when you cook food at home. When you feel like going out with friends, call them at your place and indulge in some cooking which can be fun and cost-saving.
12.) Put A Portion of Your Income To Savings Every Month
Try to put a portion of your income to savings account each month. It has been recommended to save 20% of your income every month. You should reserve 50 percent of your budget for essentials like rent and food, 30 percent for discretionary spending, and at least 20 percent for savings.
13.) Know How Much You Earn And How Much You Spend Each Month
It is important to know how much money that have coming in and going out. Make a proper list to see your incoming verses outgoing finances.
14.) Cut down on electricity consumption
Reduce the need of electricity and unplug the appliances when not in use. When you are planning to buy new electronic appliances, make sure to buy the ones that have energy-saving features.
15.) Reduce Service Levels
Look for better service plans for insurance, phone and the Internet. Due to huge competition among almost all carriers, they offer huge discounts and special packages. So, try to negotiate with your current service provider for a lower rate.
16.) Buy A Car With High Value
If you are planning to buy a new car, make sure your purchase has high value. Buy a latest model that last a long time with low maintenance costs.
17.) Try To Spend Less On Entertainment
Many people are in a habit to spend large portion of their income on entertainment. Luckily, these costs are easy to cut down and control. Start suggesting your friends for lower cost get together, have a movie night at home instead of the theatre and cook food at home instead catching up at an expensive restaurant.
18.) Cancel Your Expensive Gym Membership
Go to Public Park, practice yoga and indulge in some good exercises at home instead of maintaining an expensive gym membership. This would help you in saving money with ease.
19.) Weigh Up Your Subscription Services
Cancel anything you don’t find worth the cost. In the age of high speed Internet, you can choose to withdraw your cable connection and save money. Also, video games subscription, magazines and other similar expenses can also be eliminated.
20.) Sell Items You No Longer Need
Go through your belongings and see things you are no longer using and sell them. Sell unwanted clothes and old furniture instead of throwing them. This can be a good way to earn extra income.
21.) Start A Side Job
Use your free time to start some simple side business like babysitting, dog walking, content writing etc. You can even start selling some art and craft work online and can indulge in some beauty products or jewelry selling business.
22.) Rent Your Extra Space At Home
It is difficult to adjust with high cost of living with single and restricted monthly income. Therefore, the more you earn the more you can save. For such purpose you can rent out second or third bedroom or any extra property you own. This could potentially increase your income and help you to save more for brighter future.
23.) Save Money For Retirement
Smart spending of today will provide the foundation for saving good amount of funds for retirement. Create a budget to save as much money as possible and make a goal avoiding unnecessary spending to save for your retirement.
24.) Develop An Investment Plan For Your Saved Finance
Invest in stocks, buy some bonds and save portion of your income on buying gold and silver and put some portion of your income in cash in the form of savings account.
25.) Save Money On Transportation
Carpooling to work, using public transport to visit friends can be a great trick to save money. You can also save money by washing car yourself.
26.) Curb Your Holiday Expenses
In order to save money for buying a home or car before you turn 40, it is importance to cut down your holiday trips with your friends and family. Just make sure you go on a holiday once or twice a year. You also need to learn about the tricks and ways to save money while travelling.
27.) Find Free Coupons And Discounted Offers
Thanks to the popularity of Internet, one can easily find a number of free coupons like for grocery items, discounts on flight tickets, shopping, beauty products and more. Using coupons for free online or collected from local store will save you tons of money. Make sure you only use coupons for the items you need.
28.) Set Your Spending Tone Each Day
Create a budget for a day. Keep track of your goal progress and set your spending tone for rest of the day. This daily money routine will help you finding the financial problems immediately.
29.) Budget About 20-30 Percent Of Your Income For Lifestyle Spending
The lifestyle budgeting includes movies, restaurants, and happy hours that doesn’t cover basic necessities. By sticking with the 30% spending rule, you can save and splurge at the same time.
30.) Adopt Better Money Habits
You need to start adopting better money habits and for that you need to make a financial vision board. It can help you in reminding to stay on track with your financial goals.
31.) Be Specific With Your Earnings And Spending
Be specific with what you want o accomplish with your money. See how much debt you have to pay to pay off and when and how much do you want to save and by when. This will let you know how much you can actually save by the end of each month.
32.) Keep Motivating Yourself
It is important to have some motivation behind saving money. Savings habit needs to be practiced with strong will and patience. Keep pushing yourself by thinking about a trip to Bali, buying your favorite car or owning a home. So, you must adopt a spending and saving mantra now.
33.) Start With Tiny Financial Goals To Bigger Ones
The hard we try to save money, the more we likely to give up. So instead of taking big steps of achieving bigger financial goals, one should focus on short-term goals for quicker and positive results.
34.) Sometimes You May Fail, But That’s OK
Life is all about unexpected turns and events. There are some unexpected expenses and situations come in life that may put a hole on your planned monthly budget. But as time passes, you can once again keep your budgeting back on track.
35.) Start Paying With Small Debts To Conquer The Big Ones
If you have a long list of debts, then you should start paying off little debts. This will give you the confidence to tackle with the bigger ones.
36.) Evaluate Purchases By Cost
It may be a big compromise on your wishes and wants. But to become more financially responsible you will have to evaluate the cost of your purchase and must learn whether it is worth the cost. How many times you will wear an expensive shirt or a dress. For that better, you can settle with less cost shopping items.
37.) Don’t Take Your Friends With You For Shopping
It is better to go solo for shopping and treat your shopping with serious attention on cost of the product. Your friends may disturb your certain budget for shopping and instigate you to shop more by saying this looks so good on you.
38.) Delete Shopping Apps From Your Phone
By deleting all shopping and beauty apps from your phone, you may able to save yourself from doing impulse shopping. By staying away from such apps you no longer able to receive any notifications and updates on deals available.
39.) Avoid The Overdraft Facility By Banks
Banks usually provide you a facility to open an overdraft account and you tempt to overspend. They will then charge a fee for the privilege.
40.) Start Saving Now, Right Away
Stop postponing it, not by next week and not when you get a next raise. Whatever you have in your checking account, put the portion of it right away in your savings account.
41.) Make Room For Emergency Funds
It is not easy to spare some amount every month for unexpected expenses. But whenever possible for whatever portion of your income, do save it for emergencies. With having funds for emergencies you can save yourself from applying for short-term loans.
42.) Give Money To Get Money
If you have the facility of Canadian RRSP match, then do not miss it at any cost. Here the employer contributes money to your retirement account. But you will only get the employer contribution when you contribute first.
43.) When You Get A Raise, Raise Your Savings Too
When you earn more, do not spend more. Instead you should use the raise to raise your retirement savings. Opt for an auto saving option. Whenever you get a pay, it will automatically transfer to savings and retirement account.
44.) Go For LED Bulbs
The LED bulbs are more energy efficient and will last as long as 20 years. Such bulbs use a fraction of the electricity that incandescent bulbs needs, and thereby cut your energy bill.
45.) Opt For No Fee International Credit Card
While on a holiday, you must see if you have a no fee credit card. Some credit card charge 2.5% for using it in a foreign country. Shop around for cards that don’t have such fee charges.
46.) Make Use Of Price Comparison Website
Whenever you are applying for a loan, getting any policy or doing a shopping, use a price comparison website before you buy anything. Just make sure you are getting the best prices.
47.) Go For Small Supermarket Than The Fancy Ones
When going for grocery shopping, try the supermarket economy range than visiting the fancy ones with big names. There you will find same products from less popular brands but you will surprise you know that they tastes almost same but is half the price. So, don’t be put off by the packaging.
48.) Visit Supermarkets At Night
Most of the supermarkets often offer reduced prices for various food products like bread, milk or cakes at the end of the day to make sure they sell it.
49.) Take A Flask And Make Your Own Coffee
Visiting expensive coffee shops will cost you £60 over the whole month. So, you must buy a good coffee making machine and make your own coffee.
50.) Pack Your Own Food For Office
Take a packed lunch to work instead of buying it daily. You can also take leftover food from the night to office and can save tons of money.
51.) Stop Buying Or Preparing Too Much Food
It is likely possible that you order quite much or may cook some extra food which you will not going to have again. So, be careful about buying or cooking what you need to eat. Buying too much food means you lose money on it.
52.) Bulk Buy Only On Something You Regularly Use
It is important to understand your day to day needs. There is always some or other special offers, coupons and discounts are going on super markets as well as online. Bulk if there is a special offer on something you regularly use.
53.) Buy The Gifts In Advance During The Sales
It is important to be a smart buyer. Therefore, you should plan to buy gifts for your family and friend’s birthday and also for Christmas in advance during the sales. Make sure you have enough storage space at your place to keep them safe.
54.) Settle With The Main Course For Dinner Outing
When you are dining out with family and friends just try to skip the starter and only have main course means. This way you can save much of your money without running your evening.
55.) Take Your Kids To Library Instead Of Movies
Libraries are a take place to take the children as they only have books but CDs, DVDs and magazines which is a great source of knowledge as well as knowledge.
56.) Save Your Shopping Trips Until The Sales Are On
It is important to do smart shopping and not impulse shopping. You must save your shopping trip until the sale begins. Make sure you don’t buy things just because they are cheap. Buy the stuff that you actually need.
57.) Learn To Fix Clothes On Your Own
Got hole on your favorite shirt? Get it done by your own instead of paying a lot of amount on outside alternations. Learn how to sew and fix your clothes.
58.) Lower Down Your Heating Thermostat
To save money you must lower your heating thermostat. If there are rooms that you don't use in your home then turn off the radiator and close the door. By taking this stop step you will be surprised at how much energy you can save per year.
59.) Cut Down On Smoking And Drinking
If you smoke and drink, try to quit or slow down. There are lots of free services available that will let you cut back on smoking and drinking habits which not only helps in saving tons of money but help you to live a healthy life.
60.) Save Your Loose Pennies
Don’t keep loose pennies here and there and instead you should keep them safely in a jar. At the end of the year you will be surprised to see how much money you have saved.