If there’s anything I am passionate about, it’s saving money. Ever since I got a debit card, I have been very money-conscious. I don’t know but I just have a fear of not having any money. Besides that, my mom has always thought me I have to be an independent woman that has my own money and knows how to save money as well. So, I think I am definitely on the right path with that. Since I have inspired some people around me to also start saving (which is such a weird thing haha), I thought I would share some of my tips and things I do to save money every single month.
⌑ A savings account & goals
Of course it all starts with opening a savings account. Here you have different options. I would suggest exploring what the options are with your current bank but also look what other banks offer. This should be a very easy process and once you’ve opened an account, it’s time to start saving! The thing I love about my savings account is the fact I can set savings goals. So, I have a general saving goal, a future home saving goal, a holiday saving goals and more. This makes saving money so easy because you can easily divide the money you want to save between the different goals.
⌑ Monthly expenses list
Before you can start saving money every single month, you need to know what your monthly expenses are and what’s coming in every month. This way you’ll know exactly what money you have left to spend on eating out and stuff like that, and of course save money. I like to know how much I can save each month before actually putting it into my savings account. The one thing that sucks more than not being able to spend money is having to take money out of your savings account because you don’t have enough in your spending account anymore. So, list insurance, phone bill, groceries, etc.
⌑ Ballin’ on a budget?
Whenever I mention saving money to someone, they respond something like this: “But I don’t want to live on a budget and just buy what I want.” To clarify, you don’t have to live on a budget to be able to save money. I don’t save the same amount of money every single month. Some months it’s more and other months is a bit less because I have bigger expenses. That’s okay. Saving is not a competition with yourself. Just save whatever you are able to and if you’re saving for something specific, you can always calculate what you need to save every month to hit your goal. This way, when you have paid your monthly expenses, put aside that money in your savings accounts and use the ‘left over money’ for fun things. When saving money, you don’t have to miss out on fun things. Eat out with friends, buy the clothes you like but all in moderation. If you buy coffee out all the time, maybe try and make it at home and take it on the go. This will save you a lot of money when you calculate it. The same goes for lunch at work. And a little suggestion: When you spot a fun clothing item, there’s always sale season…
⌑ Watch out for impulsive buys
Everyone does it. Sometimes you just can’t help it and that’s okay. Don’t feel bad about it. In the end you can always return things (mostly within 30 or 60 days). So, when you bought it (in store or online), try it on again at home and ask yourself: “Do I really need it? And do you have something in my collection that’s similar?” If you answer ‘no’ to the first one and ‘yes’ to the second one, return it. It would be a shame to have things in your closet that you never wear and still have the tags on in a couple of months. What to do with those items? Sell them on United Wardrobe, Vinted or other apps like that. An easy way to still earn some money. You’ll learn from every time you have an impulse buy mood and get better at saving that money you would’ve spend on things you don’t need haha.
⌑ Don’t spend money you don’t have
That’s just the best advice there is. Just don’t spend the money you don’t have. This will prevent a lot of problems. I always have enough money in my spending account that will get me through any emergency situation. Definitely something I would urge everyone to have. You could even create a savings goal for emergency situations so there isn’t that much money in your spending account (since this might be very tempting).
These are some of the things that I do and that have (and still) helped me to actually save money every month. I know it can be hard to start saving money and it is sometimes tempting to take money out of your account… But it’s way more satisfying to save for something and then buy it (like I did with this purchase). Or just to open your savings account and look at the number you’ve saved. I love that feeling! So, I hope this inspires you to start saving money or save more money each month than you already are saving. What are your tips to save money? How did you start?