How many of you make enough money right now to save some of it? By saving some money now, – it will amount to a big deal pretty quick.
Simple Ways to Save:
Overinflate Your Budget/Spending – given the fact that your life experience is less than those that have “lived that lesson”, how do you really know how much living costs? If you have a car, and budget for the payment, insurance, gas – include the cost of maintenance. Although you won’t need tires or oil changed on a monthly basis – plan for SOME additional expense each month and when you do NOT need it…SAVE IT!
Saving is Automatic – whether you get paid once or twice a month, save some extra just for YOU. Because savings is for you. If you’re saving for a specific thing, like a wedding, house, trip, whatever, save for this and save extra for YOU. Otherwise you’ve met that specific goal, and you have to start saving all over again. For the immediate need, (car needs a tune up), put it in your savings account.
There are better places for you to save than others. I am a big fan of the Indexed Universal Life plan, (this is a YOU savings).
We don’t save because we think something is going to go wrong; we save to meet our wants & our needs. So if something does go wrong with the car, because you overinflated your budget/spending, the money is there when you need it.
Skip Spontaneous Purchases – Online shopping is a whole new way to spend. We often spend without thinking about it as much as you would when you hand over cash at the store. Try stepping away and coming back to your cart a day later and reassess if you still want that stuff. There’s no shame in still buying something but now you’ll skip the buyer’s remorse and save what you were going to spend on that Amazon purchase you really didn’t need.
Spend Less to Impress – I remember the last pricey dinner that I had, but give me some time and I won’t have a clue as to what I ordered. I believe in spending money on memories; trips, going somewhere I’ve never been, special occasions. Just don’t forget that there are so many fun things to do that don’t cost a thing…going for a bike ride, playing some tennis. Look for deals; they’re everywhere, from Happy Hours to Living Social.
There’s No Place Like Home – have you ever gone out to dinner and pay for mediocre food? Or go to a movie and walk out before it’s over? I’ve had some of my best times inviting the girls over, making appetizers, and laughing until our stomachs hurt.
Carry CASH – I notice when I have a few 20’s in my wallet, that I pay more attention to what I spend. If you are constantly living on plastic, including your debit card, it’s easier not to add it up until there’s nothing left.
Change Jars & Dollar Jars Work! – It really might not seem like much but you’ve heard the saying “Every penny counts” because it does! Saving just the change from your Starbucks order won’t make a difference to you now but it will add up. Saving just the smallest amount is always better than not at all. One thing that I didn’t learn in school was the importance of saving early in life. Sure they taught us how to write a check, and balance a checkbook (who even does this anymore)? We learned the skills needed to get a ‘good job’, one that included benefits, pensions…those days are gone.
Ask yourself this, who is saving for YOU if you’re not?