We all love having money am I, right?
But many of us struggle to even hold on to a dollar. Saving money can be a hard thing to do. That’s why I’m going to share a few of my favorite ways to save money!
As a college student, saving money is extremely important, I never know when I’m going to have to randomly buy something (or treat myself). My favorite thing to remember when having money is that there can always be a rainy day. Keeping that in mind it should be easier to begin creating a stash!
- To begin saving my biggest piece of advice is that if you can, open a savings account. I have one that is not attached to my checking account, that way I can never be tempted to take money from it with my debit card. This is a good option because it forces you to actually save and not spend your money too often. PRO TIP: If you have regular income set aside an amount that you will take from each paycheck and place into your savings. I divide every paycheck by 2, to equally share with my savings.
- Keep track of your spending habits. When you know where your money is going, it’s easier to not spend too much of it. Personally, I watch my bank account like a hawk to know exactly how much money I’m spending and when to slow down.
- When having money, it’s always best to start budgeting. You should allocate where every penny goes and how much. PRO TIP: There are plenty of apps that can help you stay on track. I used “mint” to help me stay on track and budget.
- Set short-term money goals to help stay on track with what you are saving for. Perhaps saying you will save $10 every week is easier than trying to tell yourself to save $800 for the year.
- In some cases, I use the “if you cannot purchase it three times, you cannot afford it.” mantra. This helps put spending habits right in your face and helps you ask yourself, “can I really afford this?”
- Think about your purchases before you buy them. Impulse shopping can be easily avoided when you give yourself a day or two to think about if you should buy something that is expensive. Don’t rush to check out your online shopping cart!
Have any tips of your own? Drop them in the comments, we all want to save some coin.
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Excellent post but I was wanting to know if
you could write a litte more on this subject? I’d be very grateful if you could elaborate a little bit further.
Appreciate it!
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Hi, thanks for reading! I’ll be sure to do an updated post for the new year!
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