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
TIP #1 - If you don't need the money put it away
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.
I saved money during high school because I was able to forget about it.
I would slip $$$ into an old purse that I rarely used and after about a year I was $2500 richer. 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 financial stress.
Knowing your limits
My mother gave me a few hundred dollars to hold during a period when she was able to save comfortably. When hard times hit I was able to surprise with her own rainy day funds.
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 came unexpectedly when I began to work at my high school. Our first check did not come until a month and a half later.
So I began to live off the money I already had.
Tip #2 Give yourself a weekly/ biweekly budget
Add up what you absolutely have to spend and only spend money on those items.
Everything else can be improvised.
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, the way I was from my high school, waking up a bit earlier can save you $27.5 every week.
Find a cheaper way to do it
If you have patience, youtube videos, and a friend can help you look sharp for the upcoming work week and save you between $8 to $100 dollars.
It all depends on what style you choose.
One way I was able to keep track and make myself feel like I was making a difference was to write down the money as I saved it. There are plenty of free apps you can use to help you monitor your progress.
Nothing says saving more than seeing that you saved $30 in one day by simply bringing food from home.
Packing lunch is a HUGE way to cut back on spending.
TIP #3-Avoid plans that involve going out to spend money.
If you are trying to save money, you and your friends can indulge in park activities and enjoy free trips to the museum.
A simple google search and a good swiping though Instagram will expose you to activities everywhere.
A window shopping trip is never a good idea because I promise you something in a random store will grab your attention.
TIP #4- Tell people you are saving money
While it's no ones business what you do with your money, if you are able to be honest and say “Hey , yeah actually i’ve been saving money recently can we go [fill in the blank] instead?” They may be more understanding than you think.
No matter what the goal is or why you are participating in certain behaviors you have to find people who will support you. If your friends can’t understand why you won't go out to dinner with them, then they really do not deserve your friendship.
Tip #5 - Eat Smartly
When I was in high school my friends and I could go down to 42nd street and spend hours doing absolutely nothing. Times square is for site seeing and photos but if you decide to make it a full day and include food do not eat in Manhattan.
Or any location that is expensive near you.
The Olive Garden down in Manhattan, NY charges more than the one in Bronx, NY and it sucks for your pockets.
When the site seeing is over hop back on the train and eat in a familiar cheap location.
Yes, this could mean skipping the shrimp and opting in for chicken.
Tip #6- If you went out and indulged- make a trade.
Lets imagine when you read tip #5 you skipped the shrimp and went for lobster.
It’s okay it happens to all of us.
The solution is to simply swap out one activity or action for another.
When you go to the supermarket this week roll your shopping cart past the overly priced boxed cereal and reach for the bag of whichever brand is cheaper.
Try to carry a reusable water bottle instead of buying bottles daily.
You can routinely sit down and apply this to your own activities by thinking of items that you can live without for 7 days.
At the end of one week you will be able to see a difference in your wallet.
It does take strong will but before you know it it’ll come naturally and your goal will be more tempting than the greasy goodness that is being sold across the street.
#SavingMoney can be simple. Make sure to comment and like this post! Share it with friend and join our mailing list to stay up to date with everything there is to know about balancing your money and your mind.