As you get older, you start to realize the true value of a dollar. When you’re young and getting allowances, or young and not having to pay tons of bills – you don’t realize how fast you spend your money once you get it. But, then adulthood creeps up on you and you’re clipping coupons for groceries because the bills won’t stop piling up. Yet, you are day-dreaming about finally getting that weekend vacation and have no idea how to swing the cash for it.
Thanks to Reddit, here are some helpful tips to help you in saving your mulah.
A trick that always works for me is to think about how many hours wages I am spending on something. As someone who previously had a huge spending problem, this has helped me realise that I’ve worked hard for my money, and I’d rather be working my ass off for a stress free life financially than living pay day to pay day buying meaningless shit.
Whenever you feel the urge to buy a non necessity, give yourself a couple of days before you buy it. Often times, the impulse will have passed and you’ll be glad to still have the money.
- If you are a student – Learn to cook.
- If you are working – Bring lunch to work every day. You’ll save a lot of money.
- When you go shopping, especially grocery shopping: make a list and stick to it. And never grocery shop on an empty stomach. Or after a busy day or week. You’ll be more inclined to buy bad food and make poorer purchasing decisions
Pay your credit card off completely every month. Don’t let it accumulate interest. Don’t purchase things you don’t have the cash for. Too many people get over their heads in credit card debt and its hard to dig yourself out at 18% interest.
I was quite bad for really wanting things and buying them as soon as I got paid, of course as the end of the month came near I had barely any money left and struggled. To fix this, instead of buying things at the start of the month I decided to buy things at the end of the month if I still had enough of that months wages left over to do so. If I didn’t then I did the same again and wait till the end of the next month, and of course last months leftovers plus the new months wage by the end of the 2nd month I had enough, and sometimes saved money as the item was now cheaper.
Basically patience and timing means I can still have the things I want and not be struggling near the end of the month, I’m in a much better place financially now.
Rice. That son of a bitch goes with everything.
Potatoes. Keep plenty of them in stock – they can sit for a long time in the pantry or fridge, they’re versatile, easy to cook, and filling.
On every payday, I move half of what I had leftover from last pay period over into my savings account. (Paying yourself). Sometimes it’s not a lot but it has added up quickly. I also add 5$ to each of my kids savings accounts every payday. They each have over $1,000 and my personal savings has just reached 5 figures. As a single mom, who has always lived paycheck to paycheck, I have surprised myself.
Look at your bank statement. Actually look at where your money goes.
I made an Excel spreadsheet to budget with. Has all my bills, what I make each month, and what to put aside to save any specific amount. So far this year alone, I’ve managed to save $4,000.
Make coffee at home instead of buying it daily.
Buy dry/long life food in bulk. Want pasta? Tesco stocks it at about £2.15 for a kilo or £2.91 for three kilos. Always think in the long term, and try to spread out your shopping, i.e. buy the pasta one week when you have the money for that, and your rice the next week, when you’ve got the money for a 5kg sack (though obviously scaled up to include everything you need).
Staggering your purchases to buy in bulk means your weekly cost will go down and you’ll get more for your money.
Save all your singles separately. Singles are the new change.
Go to the [ETC] section of Craigslist a few times a week to see if there are any focus groups. They basically ask you a bunch of questions about a new product, or make you write a diary about your shaving habits for a week, things like that. They pay $75–$300. Many more opportunities if you live in a city. A good way to have some burner money and save your paychecks from drunken waste.
I saw someone on here who put all their five dollar bills in an envelope for a year. I started doing that in February. I’m not going to count them until next February. That envelope is already getting thick with bills!!!
Drink at home, alone. No buying drinks, no tipping, and nobody will judge you for drinking the cheapest stuff you can.
Every time you go to buy something, ask yourself whether you’d rather have that money in your wallet, or you’d rather have whatever you’re about to buy. It’s very easy for me to go out and spend $100+ on dinner without thinking about it, but not when I think about how much better it feels to have that $100 in my wallet.
Have multiple accounts with companies that give you free stuff. For example have 5 Starbucks accounts and when they send out a promo code for a free drink once in a while you get 5.
I always get my change at put it in my piggy bank – yes it’s a pug, a chalkboard pig so it’s tons of fun to draw on. I very rarely use cash as I like my reward points but it still comes out to $100+ every year.
Don’t feel bad for getting your change. So many people walk out without it thinking it’s what you’re supposed to do. . .but now your $2.56 coffee every morning costs $3, that’s 20% more!
Don’t be afraid to buy the cheap stuff in shops. Often your paying more for the brand rather than the actual quality of the item.
Thrift stores. Seriously my entire wardrobe is thrift and I don’t look like trailer trash. I have a professional suit I use for interviews, very nice blouses, jeans, dress pants, exc. Look for the half-off tags and be willing to spend some time and you can get brand-name clothing for like $3 a piece.