Everyone needs to save money. The only way to get ahead is make more money, spend less! There are ALWAYS going to be rainy days so how prepared are you? What happens if you broke your arm and you have to go on disability and your pay check is cut in half? Are you prepared or have any wiggle room financially? In the real world, rainy days and storms happen. The best way to deal with them is to be prepared! Your life would be so much better if you weren’t living paycheck to paycheck. That’s a dangerous lifestyle to live and you will never be fully independent. If you are in your 20’s then it’s time to have an emergency fund. You don’t want to keep going back to your parents and asking for money. SO here are a couple ways to help save money!
- Save every $5 bill.
Saving every $5 dollar bill that you come in possession of is a great way to save money without feeling like you are. Put it in a coin bank or save it somewhere safe! It adds up really quickly! If you come in possession of 10 $5 bills a week, that’s about $50/week and over a year time span you can save close to $2,500 of five dollar bills! I say its worth it!
I’m currently saving all my coins, $1 and $5. I’m going to save up for 3 month and come back with an update of my average savings!
- Coin bank- keep lose change, it ads up!
Of course the gold old fashion coin banks. It really does add up! You can start saving for a trip, vacation, event ect. After a year that adds up as well. I used to know a couple who saved all their coins and at the end of the year they would put it towards their mortgage of their house! They said it helped tremendously!
- Break down a small daily goals!
Break down everything to a daily or weekly savings goal. For example, if you want to save $3,000 in one year, that means you have to save $250 per month, $62.50 per week and $9 per day. I think that is pretty doable! That’s like just not spending the extra money at 7/11 or at the gas station, or not spending on an extra beer. Imagine how good you will feel and how financially secure you will feel with $3,000 in your bank account after a year. You will feel confident and less stressed for just $9 a day.
- Automatic withdraws for savings.
If you get direct deposit this is a great way! ESPECIALLY if you just can’t put away money. If you are the type who has money in their bank account, and they spend every last dime and can’t help it, then get a small amount withdrawn from your paycheck and have it go into a different account. For me I can’t just have it in my savings, I have to have it directed to a completely different bank and I never carry that debit card on me. I know myself well and I don’t deny it. If I have money in my hands, I will spend it all. So I take precautions and that works great for me.
- Do 10 day challenges for no spending!
Grab a friend and do a 10 day no spending challenge! It’s way easier if you do it with a friend especially you hang out with because then their will be less temptation! And I’m sure you have a friend that wouldn’t mind the idea of saving some money! Think about how much money you spend EVERY day! And on stupid stuff too. Toughen up a little and do 10 days! You will survive I promise! Instead of going out to the bar, do a 10 day gym binge, instead of going out to eat, cook with your friends at home, instead of going to a hookah lounge, have movie night at the house! The pay off is so much more valuable in the end. If you don’t spend any money for 10 days, and do that once a month, you could cut your costs down! Financial security really is freedom.
- Only carry a certain amount on you when going out to avoid over spending.
It’s proven that if you carry cash on you that you will likely not spend as much as if you just had a debit card. I know personally when I have a debit card, I never look at how much i’m spending, I just act like its magic and its never ending. Let’s face it, we all want to act like we can swipe our credit cards repeatedly like it’s a magic wand. But, the next day when you forgot you have a bill to pay for, you really regret that! When I go out to a bar and I have a debit card, I literally will spend hundreds of dollars. And the more drinks I have, the more rich I THINK I am when I really am not. Then I wake up the next morning cussing myself out for buying the whole bar drinks when it does nothing for me but make me broke. The alternative to that is I only bring enough cash on me when going out. Through the whole night I am conscious of how much I have left and it keeps me from over drinking. It a win win situation.
Hope all these tips Helped!! I’m going to be doing Challenges for no spending and saving challenges. If you want to follow my daily progress and join with me then Follow me on Snapchat: Nikki.Eve
Comment with any other tips, tricks or ideas you have for saving money!!
PRETTY SUC 