I honestly can’t believe New Years is in a couple of months. Have you started thinking about your money saving goals for this upcoming year? Looking back at the past year, I have achieved my ultimate saving money goal – paying off my entire student loan within one year. I wouldn’t have been able to do it without some of the habits that I implemented this year. If you are looking to save money & create good money habits in your life as well, then this blog post is for you. Today I’ve compiled my top money saving tips so that you can achieve your money saving goals. Keep reading.
If you don’t have a savings account, open one today
No matter if you’re 18, 25, 35 or 65, it’s important to start saving your money today. If possible, try to save a certain percentage of every single one of your paychecks. Your future-self will be so happy & will thank you. Take a look at how much money you spend every single month. Experts recommend having 3 to 6 months’ worth of living expenses in your saving account. Take a look at your finances & write down how much you spend on housing, food, healthcare, etc. every single month – make sure you have 3 to 6 months’ worth in your savings account.
If you are having problems with overspending, get rid of your credit card
If you are an over-spender, it may be time to get rid of your credit card. If you don’t have a credit card, then you will be forced to use your debit card or use cash. This will prevent you from making purchases that you are unable to afford.
Bonus tip: take out a certain amount of cash every single week & have a goal to only spend that amount during the week. For example, take out $50 dollars & then have a goal of only spending that amount on coffee, food, or miscellaneous expenses.
Start a side hustle
This is one of my favorite tips. If you are looking to earn some extra money, then I definitely recommend starting a side hustle. If you enjoy writing, you could start a blog or try freelance writing on websites such as UpWork. If you enjoy driving, then you could become an Uber driver or an Uber Eats driver. There are many different side hustles depending on your skillset.
Unsubscribe to sale emails
Anyone else subscribe to a bunch of fashion brands’ email blasts? I loved it as first because I was aware of every sale, but then it ended up not being a good thing for my budget. I would buy just because something was on sale. I was left then with a bunch of unnecessary clothing items. Only buy things that you absolutely need. There are certain times of year when many brands run sales yearly. Only buy during those sales after you know that you want the item & you have saved up for it.
Paint your own nails
If you get your nails done every single month, then it might be time to rethink this expensive habit. If you do your own nails at home, you can use that money towards your savings. Think about how much money you’ll save if you paint your own nails for the next year.
What are you saving goals for the upcoming goals? Do you have any saving habits? Let me know in the comments below!
How To Plan For A Productive Week
I’ve been thinking lately that I really need to unsubscribe to a lot of emails because it’s so tempting to buy stuff when they’re on sale!!!!!!
I like to ask myself questions when I go shopping – do I really need this or do I want it? Do I have something similar? Does it fall within my budget this month? How much do I love it?
The questions help most of the time but sometimes, the temptation is just too high haha
Yesssss! I have been making my own coffee and using a resuable travel mug for the mornings as well to cut down on wasted $ and excess trash (I still love Dunkin).
I remember that when I was in college I became very skilled painting my own nails and to this day I actually enjoy doing, if i have the time. Great tips!
I have been trying to increase my side hustles and also reduce recurring bills. Thanks for all the great tips, I can never get enough money saving ideas!
I love your simple steps to flee from paycheck to paycheck and become financially free by living below your means. Nice work.
I have something similar in my blog too;
This is the concluding part of living below your means to be financially free and how do you go about it. Find out and share.Thanks.
I have one more method how I save. After shopping for something if you left coins, when you get home and put it some box and do that every time. After one month you’ll be surprised how much coins (cents) you have.
I feel like you are speaking to me!! I was just sitting here deciding whether or not to paint my own toes and trying to convince myself to suck it up and save the money!! I can’t believe you paid off your student loans in one year!
Great post and advice!! Congrats on paying off your student loans! That’s a huge milestone!