Like most millennials, I’m just a girl trying to save money where I can while still living life to the fullest — I like my avocado toast with a side of cash to toss into my “new tires” fund, ya know?
I’ve never been one of those shopping spree, blow my bank account on new shoes people, but I’d do embarrassing things for an airline ticket + a new bundle of sage, so needless to say, I know a thing or two about forging my way through the debt jungle…like, my student loans are as much as my rent…so homegirl doesn’t lie.
Over the years I’ve tried many different money management methods, but these are the ones that have stuck around.
My Money Saving Tips:
1. Make Saving a Routine
I put aside a set amount each month into my savings account + don’t even count it as apart of my income. When calculating how much I make each month, I essentially forget about this number and treat it as if it’s untouchable. This may sound strict to some, but it works for me + helps create an emergency fund if something crucial ever arises. For instance, if I suddenly need a new car part (love ya, Thad) or God forbid Stabes needs an unexpected medication at the vet, I have it (at least mostly) covered!
2. Don’t Always Say, “Yes Way, Rose!” *sigh*
I’m all for doing what feels right to you (I’m not here to tell anyone how to live their life + let it be known some weeks I need a glass of Cab by 6pm on the daily) but not keeping wine at home and only going out drinking with friends when it truly felt like it would bring me joy saved my bank account…and I didn’t even think of it that way!
1) Wine adds up + 2) Going out, the drinks are expensive, people often order more than they need to and you have to pay for an Uber home. When I decided to stop drinking quite as socially I ended up saving tons of money as a side effect…among other things that I’ll talk about in a separate post.
3. My One True Love: Qapital
This app is seriously the creme de la creme for savings, y’all. It allows you to save towards specific goals (this keeps me more motivated than seeing a blue-eyed babe of a man next to me on the elliptical at the gym, oh my gah) and turns my everyday activities into money makin’ machines.
With Qapital you can:
- Put a Set Amount of Money Aside on a Routine Schedule — with one of my goals I have a weekly amount of $20 + on another I have a monthly deposit of $100.
- Set Rules — I use mine as a guilty-pleasure rule. Ie: If I spend at Whole Foods you already know an extra $10 is being deposited into one of my savings goals.
- Utilize a “Round-Up” Rule — if I spend $5.11 on a post yoga juice, the other 89 cents is going towards my move-to-a-new-city fund.
- Make Use of Their “Spend Less” Rule — only spend $5 of your $15 limit at the acai bowl place next door to your house this week? Put the extra $10 towards your “desperately need a new laptop” goal.
- Create a Weekly Spending Target – Only want to spend an extra $200/wk? Qapital will track your progress + alert you of new purchases.
And the best part? It’s free, my friends. You can sign-up, here.
4. Know Your Bills
I’ve always kept track of my bills and have calculated exactly how much I’ll have left over at the end of the payment periods ever since I worked my first job back in high school. If this just isn’t you, that’s okay! You can keep a spreadsheet (this one seems like the real-deal) or use an app like Mint to remind you. I’m the actual worst at Math and keeping track in a simple notebook with the help of my handy dandy iPhone calculator has always worked just fine for me!
Tip? Set a recurring calendar alert to remind you to check-in on this on the same day each month!
5. Know When to Invest
I’m all for a good investment and I totally indulge in things I don’t necessarily need — the fact that I now have a DryBar membership is my saving grace + I adore it with my whole being — but it helps to know when to invest and when to pass so you can buy more of the purchases that light-up your soul later. For example, do you need the name brand hand soap or do you really want to skimp on those gym shoes to save a quick extra $20?
6. Groupon is My BFF
I love trying new things + I get a little weird if I go too long without trying something new, which is why I love Groupon! They literally have it all. Whether you’re looking for a cool new class to try, a $10 for $20 deal at your fave coffee shop, a treat cho’ self massage or a discounted tour in a city you’re traveling to, it’s worth taking a peek at!
7. Show Myself Grace
No one is perfect, we’re lying if having your 401k set-up by 23 is the norm + sometimes that $50 Lyft ride home is inevitable — and that’s okay. Pick yourself up + know that there’s more money where that came from. I truly believe money is energy + that, like all of life, the law of attraction applies. If you believe money will flow into your life with ease + grace it will!
Interested in hearing about my money mantras? Have your own ways you save some cash money on-the-reg? Let me know in the comments!