It is really hard to save money when there are so many things to buy, but looking at tips to save money and still spend should help us control ourselves! Spending is so much easier than saving, but we feel guilty after we realize that we have spent so much on things we didn’t need. Let’s save ourselves the heartache of spending all of our money and then questioning where it all went. Learning to live on a budget is smart no matter your income, because we could all use some tips to save money and still spend.
1. Give Yourself a Limit
When you receive your paycheck you should limit yourself as to how much you will spend on things you want. You don’t need to spend your entire check on wants because we all have things we need to buy. Giving yourself a limit is great if you have self-control and know that you won’t exceed the limit you set for yourself. Giving yourself a limit will also keep you from spending impulsively, because if you limit yourself to $100 then you can’t buy that $150 dollar bag that you don’t really need. Limiting yourself is one of the great tips to save money and still spend.
2. Set Money Aside
If mentally giving yourself a limit doesn’t work for you then actually set some money aside. Separating money to save from the amount of money you plan on spending gives you a better chance of not touching those funds. That money won’t be in your active bank account or wallet where you could spend it right away. If you don’t trust yourself let someone else that you do trust hold your money. I let my great grandmother hold my money, because she won’t let me touch it unless I absolutely need it.
3. Separate Your Money
If it is possible, separate your money into different accounts/banks. My mom uses this tip and sends all of the money she wants to save into an account she has with a bank that is only in Washington D.C. When she wants to touch that money it is very tedious to get it out so she only uses it when she needs to. Make yourself another account it will be worth it when you start to see your money pile up.
4. Just Buy One
When I go shopping I sometimes have an issue with wanting to buy more than one color of an item I like. If I see a pair of sweatpants that I like I feel the need to buy them in every color. Just buy the one that looks the best on you, so that you can save some money. Say to yourself, "This is money that I could be saving," or "Do I really need this in more than one color?" Plus who needs a wardrobe full of the same outfit in different colors?
5. Take Advantage of Discounts
Before you shop do a little online research to see who has deals going on. If you love buying new shoes, see what store has shoes on sale that week. Stores like Target and Wal-Mart have weekly sales so maybe they will put what you want on sale that week. You could also shop in bulk at stores like Costco and Sam’s club, which require you to have a membership, but save you money shopping with them, especially if you are buying for a big family.
6. Clip Coupons
If you have ever watched that show «Extreme Couponing» then you know how much money coupons can save you. Buy the Sunday newspaper and clip coupons from the coupon section that will benefit you. If there is a coupon for a different brand of something than you usually use, try it out, you might like it. You can also go online and print coupons off, and have a better chance of finding ones that fit what you are looking for. Some stores will even double coupons up to a dollar so couponing is a great idea to save money.
7. Track Your Spending
Keeping your receipts or recording what you are spending monthly will help you see where all of your money is going. You can then assess the list you made, eliminating some things that you did not need to spend money on. Next month you will better manage your money because you know where all your extra money went the month before. Hopefully you will put that money aside next time.
8. Save Your Loose Change
Saving all of your loose change adds up. Just putting away seventy-five cents a day, for a year, will add up to almost $300. Take all of the change you receive while out shopping and put it away in a jar. Just let your spare change add up, and cash it in when you fill a couple of jars. You can turn your loose change into dollars so keep up with yours!
9. Buy Generic Brands
Name Brand items always seem to be the best choice, but they can get expensive. There is nothing wrong with buying the generic brand of toothpaste or mouthwash. If you compare the ingredients of both name brand and generic items you will find that most of the time they have the exact same ingredients. So the next time you go shopping check out the generic versions of the products you use and save yourself a couple of dollars.
Now that you have some ideas on how to save, get started! It is very hard for me to save, but doing some of these tips really helps me put money away. Hopefully they will help you save, when you want to spend all of your money, as well. Which tip do you think will help you the most?