Learn how to make your minimum wage paycheck last! As a college student and provider for my household it was essential that I discovered simple tips to save money.
The first time I expressed genuine interest in saving money was during elementary school. The Nintendo DS was the hottest game system out and I vividly remember how important this was to me.
Needless to say that saving money when you had
Adults that were not helping you reach your true financial potential
It takes awhile to save $300 dollars.
After weeks of chores I managed to stash away $80 dollars. After awhile I was fortunate enough to have my sister chip in and buy my prized DS. This was the beginning of a very lengthy money saving journey.
While in high school I learned the true value of a dollar. For 6 months I worked 18 hours as a cashier.
I was lucky and did not have too many bills to pay and I also received a small allowance.
When I resigned from my job my family panicked. They assumed that they would have to carry my bills and provide for my needs.
Little did they know I mastered tip #1 and was able to save $2500 out of the little time that I worked as a cashier.
Keep reading to find out what you can do to save money while on a weekly budget.
TIP #1 - If you don't need the money put it away
Save all your coins
Ever accumulated so much loose change in your purse that your bag became a little heavy?
Next time you notice this ,don't spend the money, simply put it to the side. Part of managing your financial anxiety can include making small changes. Often we fear change and lifestyle shifts but once you recognize these habit changes are baby steps, it gets easier.
Put extra cash away
I saved money during high school because I was able to forget about the money I had.
I would slip singles into an old purse that I rarely used and after about a year I was $2500 richer.
This $2500 included birthday money, an allowance, extra cash I had from my paychecks and any loose change I found. Keep in mind if you are working and able to save more frequently you will be able to put money away at a faster rate.
What’s fascinating about this trick is that it works even if you are someone who has more bills and ultimately more financial stress.
Knowing your limits
Sometimes lapses in memory can be your best friend.
If you aren't able to keep money in your bank account or the same room without the temptation of spending, you can allow someone you trust to hold the money.
The next tip comes from being employed at my high school. Our first check did not come until a month and a half later.
So without any choice, I began to live off the money I already had.
Tip #2 Give yourself a weekly/ biweekly budget
A No-Budget-Budget is a great way to automate your savings, pay your bills on time, and mindfully spend what is left over.
Once your necessities are out of the way you can make a plan for your money. This can even include using DIY services or learning new money saving skills at home.
Do you use public transportation, buy your lunch everyday and pay someone to do your hair?
If you are in walking distance from your destination, waking up a bit earlier can save you at least $27.5 every week.