Listen, we are still super early in the new year for you to start saving, which is why today I want to share 5 simple ways to save money in 2019 that you can easily implement into your lifestyle. Honestly, it’s never too late or early to start. The right moment is NOW!
The no brainer way has to be that you need to BUDGET. Allocate 10-15 minutes at the beginning of each month to set out your intentions for the rest of the month. The key is to write this down! It can be a quick thing on your phone or a notebook, but writing it down can give you a sense of accountability.
Note your necessities such as rent, bills and costs of that nature. Then the amount you want to allocate to other categories such as eating out, groceries, shopping, etc. To make yourself stay even more on track and accountable for your spending habits, begin tracking your daily expenses so you can see where you are spending the most at the end of the month.
It can be something as easy as this:
PAY OFF DEBT
And on the other side of the spectrum is for you to pay off ANY DEBT. Earnings may differ from person to person but it’s so important to take care of debt as soon as you can. Save as much as you can from your monthly earnings to put towards this fund every month. The interest money that you are paying for borrowing that money racks up fast and multiplies exponentially in most cases over time. That money could instead be left in your bank account for you to spend! Don’t let this be something you oversee because in the long run, this is the most simple way to save money! This ranges from student loans, mortgages, to car payments. You won’t regret it!
Make a list of all the subscriptions that you signed up for. I bet there are a lot, huh? I was in the same exact boat. Too often, we just mindlessly sign up for things that we have absolutely no need for. An email here, an email there…harmless, right? WRONG! This is how retail marketing operates. By signing up for those subscriptions, they are constantly able to show you the “newest” trends, the “best” sales or “hey we miss you” or “hey you left something in your cart” emails. This entices you to go back and BUY MORE. The absolute opposite of what you want to do when you want to save money.
So take a moment, sit down, open up your inbox and start pressing the “unsubscribe” button. Some will take a few steps, again their strategy. Signing up was as simple as typing in your email but as soon as you want to leave they add more steps…to psychologically discourage you from doing all the work. But you CAN do the work! Go through the steps and remove them! In the future, you will hopefully only visit those sites if you really need something.
STOP EATING OUT
This is probably the hardest for most people. And I admit that I go through ebbs and flows with this one. There are periods where I can eat in for weeks at a time and then I start getting lazy…oops. So I suggest to start small. Challenge yourself to eat out one less time a week to begin and then 2 and then limit yourself to only one time a week…and so forth. By eating out one less dinner a week, you can save around $1100 a year! That can easily go into your bank account and imagine if it’s more. This is beneficial not only for your wallet but your health. By cooking at home, you know exactly what you are putting into your body!
For those who aren’t the best at cooking (aka me), I suggest cooking subscription services where you are able to buy meals with recipes to guide you. They are expensive still but definitely cheaper than eating out and it can really help you in the beginning of your journey. Or in your free time, research recipes online! There are so many easy recipes out there and the best part? They are completely free!
Lastly, be completely realistic with yourself. What are you able to afford? Why do you think you absolutely need something? What do you want to accomplish in the future? These questions are so important to touch upon if you want to be as upfront and real with yourself as possible. We probably all know at least one person who spends beyond their means and while it doesn’t necessarily have consequences now, it definitely will catch up to them later. There is no reason to spend beyond your means…that new purse/bag/phone isn’t going to help you achieve your dreams. Don’t feed into the classic consumer attitude!
Having a grasp of what you want to accomplish and where you want to be financially can definitely help you gain a sense of when and where to spend your money. You work hard to earn your money so make sure it’s going into things that aren’t impulse buys. Instead, save save save!
I hope you find these 5 simple ways to save money helpful and easy to implement into your life. It’s so important for everyone to start budgeting and saving for their future. Start today!
A million and one thanks for reading – until my next lil’ thought then!