If saving money was one of your 2017 resolutions I applaud you and wish you the best of luck! I have to put this little disclaimer though. I am not a financial expert nor do I claim to be one. I have worked hard not to have lousy credit (anymore) and have found a few simple ways to save money. I’m sharing them below and if you have your own little money-saving tip by all means, share your knowledge! Let’s get this started shall we!
Save your bills!
Now this tip I actually got from a former co-worker. JoAnn and her husband would save $5 bills whenever they received change. I never had cash on me so I thought this was absolutely genius! You can always start with $1 bills. I have been saving both actually. The $1 bills get put away for street people. And by that I mean someone standing on a corner asking for money, a little league football team trying to raise money for their team, or even the local fire department during their “Fill the Boot” campaign. I know I can help if even with just a little bit. The $5 bills I save get put in a special (easy to open) piggy bank. I wanted to be able to have money whenever the kids wanted to flag down the ice cream man or when they wanted extra snack money for school.
Good Ole Fashion Piggy Bank
You can actually use any old jar or container for this one. All of my loose change goes into two separate piggy banks. One is a jar and the other is a 5 gallon water bottle. The jar is mostly quarters that I plan on depositing into my bank when it gets full. The water bottle is pretty big and still needs a while to fill up so I haven’t decided what we’re saving that for. I shouldn’t but I get really excited thinking how much it will total up to!
I know a lot of people do online banking so this tip is for you. It has saved me money and headaches! If you don’t have a savings account, get one! Then schedule an automatic transfer from your checking account to your savings every time you get paid. Now these are just suggestions. You know your financial situation better than I do so you do what’s right for you. If you get paid weekly I suggest starting with at least $20. It’s the fastest way to see your savings account grow to $100 in just a month. If you get paid bi-weekly I recommend starting with $40. You can save until you reach a certain amount or leave it with no ending date.
Now that last tip has several benefits. First, after doing this I realized that I could actually survive if I saved money. It’s funny to me now but that was the main reason I didn’t try to save money. I didn’t think I could survive since we were living paycheck to paycheck. Having that money easily transfer had me disciplined to not count that money in my budget. And second, because I realized that I could survive by saving money this way I was encouraged to increase the transfer amount. By just a little bit but guess what? I’m still surviving! Have I had to dip into my savings since I started? Of course! Life happens! Which brings me to the third benefit. It’s your money and it’ll be there when you need it.
I hope you found at least one of these helpful and please share any tips you’ve learned in the comments. Oh and if you’ve saved money for a session with me, wink wink, click on the contact tab above! You can check out my last session here and on the portfolio tab.
Best of luck to you!