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No matter where you are on your financial journey, you need to know that it’s possible for anyone to turn their financial life around. Sometimes all it takes is that first step in the right direction to get things moving. But, as with most things, sometimes the hardest thing about saving money is just getting started. It can be difficult to figure out ways to save money and how to best use your savings. Some of these suggestions take just a few minutes, while others require a bit of regular effort. Still, they’re all doable.
- Record your expenses – figure out how much you spend.
- Make a budget – be sure to include an amount to save,
- Choose something to save for – down payment on a house, a vacation, a car, education, retirement, etc
- Make saving automatic – keep your savings account at a different bank than your checking account
- Be smarter with shopping – take advantage of apps, sign up for loyalty programs, join a warehouse club and buy in bulk, clip coupons, plan your purchases around sales and daily deals
- Write a list before you go shopping and stick to it – Only shop when you have a list because when you’re without one, you typically end up making impulse buys and unplanned purchases.
- Quit using credit cards – Stop carrying your credit cards and remove your credit card numbers from your online accounts – It’s easy to spend when you have your credit card in your wallet or card information stored in an account – just pull it out or click and buy.
- Consider a flexible spending account – they can save you money on health care costs not covered by insurance, including co-pays and deductibles.
- Create a visual reminder of your debt – make a giant progress bar that starts with the amount of debt you have and ends with zero. Each time you pay down a little bit, fill in a little more of that progress bar.
- Check your progress – make a “money date” with yourself every week.
- Online Shopping – When shopping online, check out price-comparison websites or use browser plugins to make sure you’re getting the best deal. Just because something is advertised as being discounted doesn’t necessarily mean it’s a good deal. Read this post to learn where to find the best online deals.
- Money Education – The sooner kids learn about how to manage and save money, the better off they will be. So start their financial independence education early.
- How to Splurge – When you’ve got your eye on a splurge item, jot it down as a goal and increase the amount you set aside for savings. Check back in a few months. Still, want it? Great. If not, even better! Buyer’s remorse averted and a healthier savings account.
- Holiday Shopping – Do your holiday shopping right after the holiday. Many of us already use this technique for Christmas, but it works for every holiday. Just wait until about two days after a holiday, then go out shopping for items you need that are themed for that day. The discounts are tremendous, and you can just put this stuff in the closet until next year.
- Grocery Shopping – There are lots of ways to save when it comes to feeding your family. Check out my post to find out how to save on groceries with the tips and tricks that I put together.
- 10 Second Rule – Whenever you pick up an item and add it to your cart or to take it to the checkout, stop for 10 seconds and ask yourself why you’re buying it and whether you actually need it or not. If you can’t find a good answer, put the item back. This can be a great way to keep from making impulse buys.
- Strategize – Sit down and plot out which debts you’re going to pay off and in what order. Simply having a plan goes a long way toward putting that plan into action, and paying off debts.
- DIY & Homemade Gifts – To save money and still give generously, create your own homemade gifts. You can make food mixes, candles, bath scrubs, fresh-baked bread or cookies, soap, and all kinds of other things at home quite easily and inexpensively. Include a personal handwritten note to complete the gift.
Money Saving Thought
Look where your money is going and find areas that you can trim your expenses. Shift your spending priorities and saving money will follow.
I’d love to hear your money saving tips and stories. Please share your thoughts below or on my Facebook fan page.
Thanks for amazing tips. As somebody who loves fashion and writes about plus size fashion ideas https://fashiononey.com/plus-size-fashion-ideas/ sometimes it really become difficult to manage my all expenses. I always spend up more than I should. I think it because lack of planning. So definitely hands down to you for sharing these
Thanks for the valuable content. As a teenager I really got to know some great ideas for saving money. Though I have been trying to make a budget and make a list before go to shopping. But I still end up buying some stuff that I do not need. I have noted down your grocery shopping point as I really spend on some unhealthy things. https://flowtobacco.com/blog/how-much-americans-spend-on-unhealthy-things/. Have a great day!
These are some really good tips. I’m quite good with money and do a lot of these things already but there’s always more I could do x
What a cool post! I love this.. It such a helpful post. I wish I could have read this right after college. Thanks for sharing! 🙂
I find that I save more when it’s automated. Otherwise, I don’t think to put it away. But, always pay yourself first, I say!
These are all great suggestions on how to save. I love your tip on how to splurge. Thank you for sharing!
For me when I write down what I’m spending it makes a big difference. Not only is it great to know what you’re spending but the accountability makes a big difference.
Saving money is something I really wish I was better at. These tips are a really great start for me!
This was great! I will definitely be making a debt progress bar. This would be incredibly helpful for both my husband and I
2 of those points really resonate with me. Aiming for a goal really helps keeping spending in check I’ve found, especially when you know your giving up something else. I also think keeping a budget it critical. No easier way to go broke.
I always, ALWAYS shop with a list! I would honestly forget so many things otherwise! I do make some unnecessary purchases now and then but I think I make up for it by meal planning and using groceries I buy for multiple meals.
Thank you for this article. I am at a stage right now where I need to take hold of my finances and recognize that I am an impulse buyer. I can go to the supermarket for one item and leave with a cart full of “stuff”. This trickles down to other area of spending as well. So, for me, I will be implementing the 3rd to last recommendation you gave in this post and apply the 10 sec. rule. Thank you so much again for this article. It is just what I needed to read to start getting my act together.
I just started using MS Money this year to track where we spend our money, and what an eye-opener! A good 25% of our spending we cannot account for – so obviously we aren’t benefiting from it! Now that we are looking at more detail every month, we are actually spending less!
In my case I found this to be quite ideal to share as it was very informative – as saving money has been within a top priority in my family. For I have medical conditions; known as RSD / CRPS, Rapid Heart and Epilepsy. But I come from a background where we arent able to afford that of the other possible procedures / tests. And mine (of the RSD / CRPS) was the result of a driver that had no insurance & didnt own the vehicle being driven when I was injured in a car & pedestrian accident.
Best of wishes!
computertech2you (at) live (dot) com
(Love Saving Money? Don’t Miss this MUST READ! MONEY SAVING TIPS Post) These are all great tips to live by, my husband will be going through two separate carpal tunnel surgeries coming up at different times this summer. Both times he will be out of work for four to five weeks, so we will have to cut back some and watch our spending.
Best of wishes and a speedy recovery! May the angels of good health visit him as he undergoes the procedure and raise him from every sickness. I ask that you remind him; there are several reason why he shouldn’t remain on that sick bed; his (your) friends and family loves, his (your) friends and family miss him, your friends and family.
I can understand as I have a medical condition; known as RSD / CRPS, Rapid Heart and Epilepsy. But I come from a background where we arent able to afford that of the other possible procedures. And mine (of the RSD / CRPS) was the result of a driver that had no insurance & didnt own the vehicle being driven when I was injured in a car & pedestrian accident. In that we have had to pay the bills entirely so all funds that were not a necessity were dropped.
Best of wishes!
computertech2you (at) live (dot) com