How To Save Your Money! Easy Tips!
Saving money is hard. Let alone saving enough money for investing and such. Here are some great tips to make saving easy!
Reminders!
Sometimes just putting the money away doesn't seem worth it over time. You just see a number in your bank account, and it doesn't seem to have any real value. Reminding yourself what you are saving for, Whether it's a vacation or retirement will help you keep going. Some of those "less fun" goals like retirement it's important to reward yourself so you can keep going. So if you want a cute new pair of shoes, Maybe come up with a plan to save 10,000 first in retirement (Base it off your income). Then buy those shoes when you hit your goal.
Have Your Savings In A Second Bank Account
I don't mean have a savings and a checking. I mean have a bank account with a whole new company! Like if your main checking account is with Discover, Have your savings with Capital one. Or whatever you decide. This will allow you to easily save without seeing the money; This will help dramatically with temptation.
You can also set up automatic transfers that move the money into your other account, so you don't' even see it leave. I've been doing this for years, and it makes A HUGE difference. You should avoid using willpower whenever possible. Because willpower can fall apart at some point.
Don't Shop With Friends
Sometimes that peer pressure can encourage you to spend more, or go for some of the more expensive options. If you have other friends, who enjoy shopping avoid shopping with them! Try to shop under pressure or in a hurry; You will avoid certain items that are more expensive. And go for what you have to have.
Keep Your Stuff Organized!
What does this have to do with saving money?
Have you ever "Thought" you had something and you looked everywhere, Unable to find it. You eventually give up and buy another? This adds up fast. And sometimes things expire or go bad, and you can't use the product. When things are organized and clean, It's easier to find and use them. You also will know what products you don't really like, That maybe you should avoid buying again.
Conclusion
Everyone wants to save more money! But it's something easier said than done. We can make a big difference with simple tips such as these. When we are whilling to at least slightly downgrade our lifestyle we can make a big difference in our ability to save.
@lauralemons Drew me!
.png)
@kaylinart This seems to be some pretty great advice! Being financially literate and sound with the way you organize your flow of income is something that we always must pay significant attention to.
Personally, some things that I have been doing is starting another bank account like you said. For instance, with my new job, I was able to provide myself another source of income to use. In order to take advantage of the opportunity, I've started another account in another bank and utilized that for savings and investing/business ventures. I found that it helps me organize my spending habits and decisions better as my expenses and decisions pile up. Just like you diversify your investments, it doesn't hurt to diversify your banks!
One thing that also assists me the most is my personal discipline that I've developed over time with the way I manage my financial habits. For instance, even if I make a small purchase at a gas station, I end up scanning through my options, considering what the benefit/cost and how it will satisfy me in the long run, and short term pleasure. Being considerate of such things has helped me drastically with the way I evaluate and dictate my financial being.
Considering organization still, I also tend to keep a record of my expenses, whether big or small, to remind myself of the opportunities I had and the choices I made according to it. Say for instance that I spend $100 on luxury of snacks for some reason.Keeping record of it would help me understand how I should manage my habits better.
Saving has always been not only a habit, but a lifestyle for me; conserving my earnings for something that matters and spending more so if it's an investment.
Anyway, I enjoyed reading your article. It's definitely advice that many should understand going through any type of financial standing in their lives.
Also, try not to put all your money in fiat form. This is part of the problemin terms of not being able to save. The dollar is eroding. People need to be educated on cryptocurrency, the wave of the future with blockchain technology. Sorry to go off on a tangent, but relying on the dollar to reach your goals is just a facade .
So true!!! I don't think you went off on a tangent! This is a good one! I have some savings in a couple different cryptos too. It's a smart way to go about it!
Love your posts. Filled with delightful content and great topics.
I first got into invest with gold and silver, I price crypto in how much metals they can buy
It is good advices, especially first.
Upvoted))
And don't forget DON"T borrow money!
EXACTLY! No borrowing That interest is brutal
1 - dont have friends
2 - dont buy anything
;)
LOL Perfect hahahaha!!!
story of my life
I used ti first take out the savings from my salary first and then spend on grocery, rent, billing etc. It worked for me!
Wow! Exactly! Pay yourself first.
i find a list keeps me off the impulse.. relatively.. lol
Wow! Thats the same as Me! Lists really help too Why didn't I think of that one.
I like these. Good tips! I will be doing daily money-saving tips soon myself!
Thank you! You should and when you write it let me know :)
I never thought that a second bank account would make a difference but it makes sense to open one in another bank to keep it completely separate and less accessible. Not shopping with friends seems to be another way to avoid impulsive shopping and overspending which does tend to happen. I never thought of that one either!
Exactly! I'm glad I came up with new ones you haven't heard before :)
Thanks for sharing! I like to think that I'm pretty thrifty, but you had some good tips that I hadn't seen before!
Aww good! Thrifty is the best way to be :) Thank you I'm glad I came up with new ones.