5 Easy Ways to Save Money

 

People may not know this about me but I am a real stickler about money. I’m no financial advisor, but I definitely like to spend and save wisely. You don’t have to be a baller to build your savings account. Nobody knows that better than me. Below, I’ve listed my top 5 easy ways to save up some cash.

 

  1. Eat at Home
    This one probably seems like it doesn’t have that big of an impact but think about how much we typically spend eating out every day. I know I’m guilty of it. If you average a $10 lunch (and I’m being modest) and a Starbucks coffee or Einstein Bros bagel (approx. $5) during your work week, you’re spending $75 a week on single meals. That’s $300 a month to cover ONE meal per day. That’s just lunch and a coffee. There’s two other meals in a day. You’re probably also spending a couple of dollars on vending machine snacks. Depending on the size of your family, and with some in-season shopping and couponing, you could take that same $300 a month to the grocery store and get 3 meals and snacks in between, which would cause you to have to spend less buying additional food every day. And in turn there’s more to save!
  2. DIY When Possible
    I get that paying someone else to do work for you is way easier than doing it yourself, but if you’re trying to build your savings something’s gotta give. People think things are way more complicated than they actually are. For instance, women love getting beautified. Monthly trips to the hair dresser will run you $150. That’s $1,800 a year on hair. You could spend $200 on a hair dryer, and flat iron that will last you at least 5 or 6 years. All you’ll have to replace is your products every few months (say $400 a year for products) and you’ve cut that cost by $1200. There are tons of YouTube videos on hair styling. I ordered a UV nail dryer on Amazon for $60 so I could do gel nails at home. A set of gel nails at a salon costs $30. You catch my drift.
  3. Plan Your Purchases
    If you know you want to buy something a little on the pricey side, but you’re trying to save money, practice a little delayed gratification and save up for it instead of buying it on impulse. This will give you more time to shift around your spending habits and be able to put more money aside to get what you want. Of course, you won’t get that rush of sporadically buying a new toy, but planning will ensure that you have the money you need in case something unexpected happens instead of being S.O.L.
  4. Stick To Your Budget
    This one is pretty self-explanatory. In any goal you create for yourself, you’re going to have to sacrifice and be accountable for your choices. Saving is no different. The fact of the matter is, how dedicated you are is directly determined by how important it is to you. That, of course, is up to you to decide. No one has to beg any of us to do stuff we want to do. So, be mindful of how you think and speak about money. Be mindful of your goals. And most importantly, be mindful of whether or not your choices line up with your goals.
  5. Direct Deposit
    This one is for those of us who’ve spent a lifetime making poor decisions that have developed into poor habits. It takes quite a bit of effort to undo what we’ve always done. Make it easy for yourself and have a percentage of your check direct deposited into a savings account and forget about it. It takes a one time setup and the heavy lifting is done for you on the front end. The trick is, stay out of the savings account and let it grow!

These tips are super easy beginner tips for saving. They are classic and have endured the test of time. I’ve been using 4 out of 5 for the last couple of years and they’ve worked like a charm for me. Happy saving!

 

Xoxo Kaisha

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