The saying goes ‘the more money you have the more money you spend’ and if as soon as pay day rolls around you and your bank card are headed towards the shops for a spending spree it is so difficult to resist the urge to spend all that hard earned cash, however here are some ways to save and scrimp so that your savings account rightfully earns its name.
1. Save on Food & Drinks
Food and drink purchases pop up all too often; when you’re on lunch break at work, when you would rather drink something from the vending machine instead of water or when Mcdonalds appears in your recent transactions more than once… Just like healthy eating spending money on food and drinks is all about moderation. Start off small and try bringing lunch from home maybe 2 or 3 times a week to work or uni. It might get a little bit boring but you can end up saving yourself roughly $30 by the end of the week. Do it for a whole month and that is $120 in your back pocket.
2. Go To Places that cost nothing
(Much more difficult in Winter I know) Hit up a library, park, beach, lake or market. You will also be more happier as it is a moment and experience bringing you joy and not a million clothing racks.
3. Get Cash Out
Next time you have a stack of cash pay attention and notice how much more you don’t want to spend it because you can physically see it. When you can visualise the cash decreasing you are less likely to spend it. It tricks your brain. It is so very easy to swipe or even spend a whole lot of money with paypass as your debit card remains the same.
4. No, You Don’t NEED That, You WANT That
One of the most annoying things to hear when shopping with someone else (guys literally say this all the time) however it sometimes is true. Try as best as you can to learn the difference between a ‘need to buy‘ item and a ‘want to buy item‘ I like to classify ‘need’ items under the 3 ‘B’s; Bills, Birthday’s and Basics. Bills for me are things like phone, gym and car payments. They have to be paid for no matter how boring spending money on them is. Birthdays are for gifts and cards and Basics are for things such as underwear, socks, t-shirts and jeans. Basic items you are always going to need and wear. As much as it is easy to think we need that new pair of heels or that new handbag we don’t.
5. Value = Hours
This is something new I have started to do, when I see something and I am thinking of buying it, I calculate the price in terms of how many hours of work I had to do to get that much money. This helps a lot as 95% of the time I end up thinking too much of my energy and time had to be put in to earning enough money for that and I don’t really want to spend it and if I do still want the item even though I may have worked a long shift for it that just means it will definitely be worn, used and loved!
6. Shop The Sales Wisely
Sales are great when you still want to shop a little as you save more money because stock is at a reduced or discounted price however be very smart and don’t buy something just because it is on sale otherwise you aren’t actually saving money. Buying something on sale that you never wear or something that doesn’t fit properly is not worth it and you may aswell buy something full price.
7. Temporary Spending Ban
These can be difficult for even the most dedicated saver but become a temporary tightass and only spend money on the things you absolutely have to spend money on. The things necessary for you to live.
8. Avoid & Forget
When and where you can avoid the shops and try not to browse online stores (goodbye asos *sad face*) Another quick tip is to leave your bank card at home/ in the car somewhere safe or with your mum so it takes more effort to get it if you feel like spending by then you may end up being lazy or having someone talk you out of it that you don’t spend the money.
9. Lists For Days
Write a list of all the monthly payments and costs you have to pay for on essential items like bills and petrol add them all up and take it away from what you earn. What you have left over is your saving/spending money. Be sure to leave a little for life events (birthdays, anniversaries and all the celebrations that seem to pop up!) as well as some spending money to treat yourself at the end of the month to something special because you do deserve a treat. The rest is savings that can get put straight into your account. If that is a little more complicated just half your pay every time you get paid and put half away to save.
10. Have a goal
It is so much easier to save when you have a set amount, set goal or set thing to save for. It could be a smaller thing to save for like a new iPad or something bigger like an overseas holiday or a payment on a house. No matter the goal you will get there eventually and the saving will be well worth every penny.
Do you struggle with saving money? What are you saving for?
When Bethany isn't writing lifestyle or fashion content here on More Than Adored you'll most likely find her chilling at the beach. Bethany pens her own personal beauty, fashion and lifestyle blog Little White Lane and is also over on Twitter!