We all know the importance of saving money and that we should be actively doing it on a regular basis. However, the reality is that it’s easier said than done. The cost of living continues to rise faster than incomes are. Most families need both parents working just to keep up with the necessities. I do not have little ones…but when I have been told by those that do the amount of their money that goes to childcare, I almost can’t believe it. Unless you are really bringing home the big bucks, it’s easy to see why saving money is challenging. So what’s the average person to do? I went searching online to see what people say are the most helpful tips to save money and tricks to grow that bank account.
#1 Make It Automatic
By and large, one of the top ways the experts say to start saving money is to make it automatic…as in taken out of your paycheck before you even see it. I guess the theory here is you can’t miss what was never in you hand. I like it…however, for people like my husband and I who are self-employed, there is no regular paycheck. Makes this money saving method a little more difficult for our group.
#2 Write Down Your Goal
I think this is a theory that applies to many of your goals, not just saving money. Everything I have ever read about getting what you want and being successful has mentioned how you should write it down and be specific about it. There must be something to it since many experts on a multitude of aspects of life recommend putting pen to paper when it comes to any goal you may have…including saving money. I need to try this.
#3 Pay Yourself First
This method of saving money should be everyones favorite! Pay myself!! Sounds good to me!! The thought here is that you should decide on an amount of money that you get to keep no matter what. You earned your paycheck, you should at least get to keep a crumb of it right! I like this idea. Everyone works hard for their money…and deserves to keep a portion for themselves and their family.
#4 Stop Eating Out As Often
I have to say that I noticed firsthand during the Covid-19 quarantine how much we were saving by cooking and eating every meal at home. I’m sure a lot of people did. Eating out is expensive! So is that daily $6 coffee habit! When you are suddenly cut off, you realize just how much you spend every month “treating yourself”. It might not be easy to deny yourself when you would kill for a Café Mocha, but I feel this is solid good advice when it comes to saving you money.
#5 Take A Closer Look At Your Cell Phone & Cable/TV Bills
If you haven’t looked at these bills lately, you might find that you are paying for things that you don’t need or use. I’m shocked when people tell me how much they are paying for tv entertainment packages…like to the tune of $180 a month!! What?! And then they admit that they really only watch a few channels! My husband and I have never paid for any cable or dish. We only use Netflix and Amazon. Which comes in around $22 a month when you average your Prime membership over the 12 months of the year and add it to the Netflix monthly fee. Not bad right? Cell phone bills can really get into your wallet too. Again, it might be worth it to see if you really need the plan that you have. Especially considering that 25 years ago this bill did not exist, so it was not stealing our money.
#6 Plan Your Meals & Grocery Shopping
The experts claim that people who grocery shop with a list and stick to it spend much less than those who don’t use a list. Personally, I could never manage to shop without a list…I would come home and be annoyed at how many items I really needed and forgot! I can’t remember what day it is if I don’t write it down. So this makes sense to me. I will also say that I think grocery pickups save money. I can’t just put extra crap in the cart! And when you are a foodie like me, planning meals is kinda fun. I like to look forward to a favorite meal!
#7 Live Below Your Means
Put simply…you could afford more or better, but choose to live with less. This should probably be #1. Not only would saving money become easier because your bills would take up less % of your paycheck, but I also think that it might possibly reduce stress. When you are worried about not having enough money to pay bills, you can’t help but to get a little stressed. My husband and I have been living below our means in terms of housing for the last couple of years. What I have learned is that less can really be more.
When you ask Google about saving money, the list seems almost endless with tips and tricks. In my opinion, it seems like the best way to save money is whatever way you are actually going to do and stick with. Have we always been successful and consistent at saving money…HELL NO. But you know what, I will keep trying. Progress over perfection right. In fact, I wanted to write this post to remind myself just how important saving money is. If you have any money saving tricks up your sleeve, tell us below! We all could use a little extra cash for that rainy day!
And if you’re interested… Here are a couple links to some good articles on saving money! This one and this one!
I hope you enjoyed this and have a great day!