Sunday, January 21, 2018

Tips to Save Money Now!

We are throwing the blazer on for this post. Hello my young professionals/ my gals who are out in the world on your own. For me being financially independent is the biggest form of being an adult. (sounds cheesy). I get everyone is in a different financial position, these were some great tips that have helped me. 

Do a budget// I could do a FULL post on how to budget. Write down all of your monthly expenses. Save 10-20% of what you take home. Take the rest of what you have and STICK TO THAT NUMBER. This is the most important part, you get to choose exactly where your money goes.


Cut// Just like in workouts, your spending needs a cut. This is not to deprive you, but to empower you and do what you actually want. This one was a big switch for me. If you can cut out all the little day to day luxuries, this will really help you out at not only sticking with a budget, but you can save for the big things. These are somethings that I stay away from: A big gym with all the amenities. (saves 100 a month) Not getting my nails done. (Saves a 100 a month) I do my own hair. (I had to watch 47 YouTube videos but I also save a ton of time and it cost me 20 dollars every 3.5 weeks vs 150 every 8 weeks.) Starbucks: 5-25 dollars a WEEK. Do you really need to spend 120 on going out to dinner a week? Also GET RID OF the monthly subscriptions. 

You get the picture, there are so many things you can easily cut out. 

Plan// Okay the last one sounded so sad, this one is fun plan out where you are going to go roughly in the next year. Do you have to fly home twice a year for the holidays? Do you go on a yearly ski trip? Do you want to go to Italy with you and your girls? Are you a part of a destination wedding?  That. Is. Fine! If you know it is coming up within the next year, start putting money aside in your monthly budget so it does not put you in a bad place in the future. 

50-30-20 Rule// 50% to all monthly bills (rent, car, wifi, water) 30% goes to living expenses/ wants. Then lastly 20% going to savings. Again I could do full post on this, but each of those can be broken down. 

Debt is a Dirty Word// There is always the argument "Oh, but I have to build my credit" Okay If that is true get a credit card and only use it to buy gas. Live within your means, or below them!


Live Below Your Means// Which brings a second point. Do you need a new car. Do yo need the newest apartment. Do you need a new hand bag. Trust me I fall Vitim to this too. HOWEVER! My apartment is nothing special, and it does not need to be. I only use it to sleep, so why upgrade it for something that I will not appreciate. I think it is always to keep priorities in check. My favorite quote is "How much is this going to change the experience". I ask that to myself a lot. If it is just marginally, I move on.

These are just starter tips, but let me know in the comment section if you want to see more! 
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5 comments

  1. Great read with helpful tips! I need to review the 50/30/20 plan!

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  2. This was awesome and very well needed considering I am awful at saving money! Thank you for this!

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  3. These are great tips and I am trying as much as possible to live below my means to pay off debt this year. When I'm at the store I think twice about if I really need the item or if I can use something else this week (especially food, look in your pantry, I bet you have a lot more than you realize, just get creative!).

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  4. We have been working toward becoming debt free. We are very close with just a few thousand left. I love these tips and will put them to good practice. Thanks for sharing.

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  5. The 50/30/20 rule is a really good rule of thumb to live by!

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