Saving money can be hard.
Its tough to know where to start sometimes. At times it seems impossible to start saving.
I’m here to let you know that it is possible and it doesn’t have to be another chore.
Saving money should be enjoyable and rewarding.
Create a budget plan
I believe that every one should have some sort of budget plan.
Even if you just start with a paycheck planner. You dont have to go all crazy with it. You don’t even have to have a special template or notebook. You can write it out on an old envelope or napkin. Just start somewhere.
So grab a pen and piece of paper right now and i’ll walk you through your first one. Its simple and it will give you a better idea of where your money is going.
Start by writing down your estimated paycheck. You’ll want to have that estimate low.
For example: You make $15 an hour. You work 40 hours a week and are paid on a bi-weekly basis.
$15 x 80= $1,200. But that is your gross estimated pay, not your take home. You have to factor in taxes and things such as insurance.
I like to factor about 20% of my gross pay goes to that. So, your next formula will look something like this
$1,200 x 0.8 = $960. BOOM! There’s your estimated take home amount. Now write that down at the top of the page with the pay date.
Below that number, start writing all of your bills for that pay period. Over estimate the amount that your bills will be.
Dont forget to factor in things such as gas, food, and entertainment. All of those are bills.
Subtract your bills from your take home. With what is left over, decide how much you can put away for savings.
Start a coin jar
Its easier said than done.
Nowadays, every one is using plastic for everyday purchases. That makes it hard to save actual coins in a jar.
If you do carry cash, awesome! We carry cash for the purpose of saving the coins. I’ll even throw a one or five dollar bill in there sometimes.
Another way to save your change is with a great app called “Acorns”.
This app will round up your purchases and stick it away in a little savings account for you. Its in-expensive to start up the app and it puts the money away with out you seeing it.
Pack your lunches and snacks
It can easily cost you $10-$20 a day to eat out for lunch.
It costs about $10 to buy sandwich fixings to get you through the week.
So, you want to save money? Time to start brown bagging it lady.
Skip the coffee shop in the morning.
I know, i know. Nothing beats a caramel macchiato in the morning but lets get real here. You can go to the local grocery store and pick up the caramel coffee creamer and coffee grounds. Shoot, you can even get fancier and buy yourself a keurig. Either way, you save yourself an easy $25 a week by making coffee at home.
Cook and eat at home
Don’t get me wrong. I love going out to eat. Its fun and exciting. Plus, then i don’t have to cook. But i pay for it afterwards… literally.
Going out to eat is expensive.
If you’re trying to save money, you’ll have to cut back on your dinning out expenses.
This is just another reason why i fell inlove with meal planning. It takes the stress away of trying to figure out what to eat that day. Which causes a lot less of spur of the moment going out to eat.
If you want to learn more about meal planning, Check out this post. Its a few tips to help get you stared.
Set a goal and stick to it
Eyes on the prize, darlin’.
The best way to reach a goal, is to start by actually setting a goal.
You wouldn’t make a plan to go on a vacation if you didn’t know where you wanted to go, right?
Set an obtainable, realistic goal. Then create an action plan to reach that goal.
“If you fail to plan, you plan to fail.”
I have attached a free copy of my savings goals work sheet. It has a column for you to specify what you are saving for, when you want to reach that goal, and how much you need to set aside to obtain that goal.
Kick the bad habits
I’m not here to judge you at all. I’ve had my fair share of bad habits.
Hey, no body’s perfect, right?
But drinking too much booze, smoking cigarettes, shopping to relieve stress.
All of those things will NOT help you save money. Plus, drinking and smoking are icky and bad for your health.
Want to save money? Kick the bad habits.
Especially smoking. I was a smoker for 10 years until i finally had enough.
I used a great online program through my work that helped me kick the butt. I highly recommend trying the patches, lozenges and going on looooooong walks. Do what works for you to get that monkey off your back.
Well guys, that’s all i have for today.
Please leave a comment below to let me know what you think. I’d love to hear from you.
Feel free to get a hold of me at firstname.lastname@example.org if you have any questions or if you need further guidance on anything!
‘Till next time,