A Silly Grrl Guide to Saving Money
I’m pretty proud of the fact that I have a talent for saving money. I managed to save a hefty down payment for my house and, last year, saved an emergency fund so I could quit my job. I don’t make a million dollars a year and I’m not on the other end of the spectrum eating cereal for every meal, I’m right in the middle of doing my best to not spend more than I make and allowing myself a few extravagances every once in a while.
Here are the things I do in order to watch my savings account grow instead of my debt.
+ Eat all of the food in the fridge before going grocery shopping. How many times have to had a craving and went to the grocery store when you have a whole fridge full of food at home? And you know if you go to the store you’re coming home with more than what you need. Get creative and make a meal out of what’s already in the house.
+ Hoard gift cards. When I receive gift cards for Christmas or my birthday I hold on to them. Then when I need a new dress for a special occasion or to kill that nagging need to shop every couple months I don’t have to dig into my bank account.
+ Automatically transfer money to a savings account each month. Whether it’s $10 or $100 it will add up and you won’t have to remember to save.
+ Do you really need something new? When I was a kid, my mom was queen of asking “Do you really need that?” before I spent my money on anything. And the majority of the time I put whatever I wanted back on the shelf. If it’s something you’ll only use once in a blue moon, then why not borrow from a friend instead?
+ Stop watching TV and reading magazines. Yep, you read that right! I only watch Netflix and therefore I don’t have to sit through hours of commercials every day and I haven’t read a magazine in years. This keeps me from hearing/seeing all the things I should have, should want, should be.
+ Unsubscribe from daily deal websites. Groupon, Living Social, Gilt Group, etc. How many times have you bought something just because it showed up in your inbox and was a great deal?
+ Money from tax returns, birthdays and bonuses goes into savings. Now I generally bend this rule slightly and buy myself a little something (maybe $50 or less) and then I don’t feel so bad about putting all the rest of my money away for the future.
+ Use cash. Figure out how much money you have in your budget for dining out, shoe shopping, drinks with friends, concert tickets, etc. Then, instead of pulling out your debit card for every purchase, once a week make a trip to the bank and withdraw that amount. Then you know when you’ve hit your limit and will be less likely to over spend.
Do you have any tricks for saving money?
06.12.12 in freelance, silly grrl guide
These are all great!
The “Do I really need this?” tip is golden. I try to practice this however, often fail when I find a really amazing deal while thrifting or vintage shopping. Thanks for reminding me to stick to my guns.
PS. Your blog is gorgeous! xo
Pingback: Lazy Sunday Abraham Linkin’ |
I just take my husband shopping with me. He won’t let me dillydally in the aisles and will only let me get what we’ve specifically gone to the store for…that usually does the trick ;)
These are some great tips! So true that the less you are tempted by things to buy, the less you will actually buy.
Use price comparison sites every time you renew your insurance – and check you’re getting a good deal on your utilities at the same time. If you’re buying anything online, google the shop’s name and “voucher code” just in case. Rent DVDs/Netflix instead of buying. If you get a pay rise, keep living as though you didn’t – put the spare money into savings. Um… I’m sure I could think of more; like you, I saved a hefty deposit for my home at a time when people kept telling me it was “impossible” to buy without financial support from my parents. I have the mindset of saving being an achievement, and I’m quite proud of that.
Honestly, the best thing I ever did was unlink all of my savings, checking, and and credit card accounts from each other. I was developing a bad habit of transferring “just $20″ into my checking account every time I got the urge to shop, and after a month, let me tell you how much that added up! It’s a little inconvenient to have to hit up the ATM every week for cash, but not draining my savings account every month is worth it. :)
Great tips! Sometimes I think I’m good at saving but then suddenly my bank account looks a little worse off than I thought it was. Perhaps because I haven’t been able to give up TV and magazines yet?
This list is great!
To add to the grocery idea, I always only buy for a couple days with meals already in mind so I don’t go crazy buying stuff I don’t need. (I love food and always want to get random things I don’t need because I’m having some craving.)
Also, living in a small studio with my boyfriend helps a lot. If we’re out and about and see something we like, we also have to go, “But where would we put it?” and usually end up putting it back down. Every corner of our placed is already filled with something we need and/or use.
I do a couple of things to save mula. I always go into department stores where sales people work on commission with my earbuds in. It really works to avoid those high pressure sales. I also try to thrift when I can. Why pay $120 for a 90′s style Prairie dress when you can usually pick one up at a thrift store for under $10? Another great thing I love to do is put all of my charges for an entire month on my credit card. I get to see exactly how much I’m spending and where I need to cut back.
I think a big thing is that when I DO go shopping, I try not to touch things or pick them up. It’s kind of weird, but the minute I have something in my hands, it’s just THAT much harder to put it down. I often treat shopping as just an excursion for my eyes.
That’s actually a great idea – only pick up the things you really need to buy.
Wow! These are really great tips! I wish I could have read this a long time ago! I’m broke!
Thanks for sharing!
xo Krystin
my favorite from the list is: do you really need something new? i feel like we are bombarded all the time with new desires and thinks to want that it can be difficult to sift out what will make us happier and what is just a passing want. meditating has really helped me watch my thoughts and part of that is recognizing how passing wants can be. when you get at the root what is actually desired, seems like they aren’t things that can be bought anyways. anyways, though, it is a constant process.
Agreed! Sometimes if I really want something I tell myself if I still want it in a week I’ll go back for it and usually I forget all about whatever that random thing was.
And now I actually have a real comment to contribute: instead of keeping emergency stash money in the bank, consider getting a safety deposit box. This way you’re less likely to use it for impulse “needs,” because you have to actually go to the bank and take the money out. I have terrible self control when it comes to money (if I see it in my account – even the savings account – it’s fair game for spending), and this has helped me a great deal for making sure I have some cash for the “just in case” scenarios.
That’s a great idea Kelsae – the more difficult it is to spend the money the more likely you are to just leave it in the bank.
I just wanted to say that I have that exact same piggy bank. Woah.
I need to write all of this down and remember it every day. I am SO bad with money, as I’m sure you know ;)
Hoarding gift cards is a really good idea. I always want to spend them immediately but it’s such a good feeling when you’re shopping for something months later and realize you have 25 bucks for a store that has what you need.
I usually spend gift cards on random stuff if I use them right away. I end up buying something much more special if I hold on to them.
I use cash and save all my change. It might not seem like it at first, but it adds up quick! Then I cash it in and throw it in savings!
I do the same! My piggy bank is getting pretty heavy now haha