Imagine with me for a moment: It’s late fall and you pull on your winter coat before heading out for the evening. You stick your hand in your coat pocket for the first time of the season and your fingers touch something papery. You grab it and pull it out, the joyful mirth of finding “free” money bringing an instant smile to your face.
There are few rushes in life that consistently deliver a happy response like finding a bit of extra money. When I turned 29, I set out to begin saving for retirement. My husband and I knew we were already a bit behind the ideal starting point. It took a heap of research and planning over the past few years as we learned the ropes of real estate investments, stock market basics, IRAs, and 401ks. Throughout the process, we’ve been committed to reducing spending and growing savings. It’s not been easy! I am a spender by nature and learning the ins and outs of our plan has made my poor brain hurt more times than I care to count. The effort has been worth it to me, though, and some of the savings tips I’ve gotten the most out of are listed below.
- You have to learn your weaknesses and avoid making repeated mistakes. If a trip to Target ALWAYS costs you a small fortune and results in a pile of stuff you only like until your next Target trip, stop going to Target. Order online, try out a different store that you honestly can’t stand so you get in and out as quickly as possible, but don’t physically go to the store that’s causing you to exceed your budget. If you are a stress or impulse shopper, learn healthy coping mechanisms. Go for a walk, do some yoga, phone a friend but don’t go shopping. Learn your weaknesses and apply yourself to change.
- Shop your home first! I save a lot of money by looking in my closets, pantries, garage, and attic before leaving to head to the store. I find that I’ve forgotten half the things I bought a year ago, or that there is already a box of clothes for one of my younger sons containing plenty of hand-me-downs.
- Take advantage of FREE options. When reviewing my purchases, I found I was spending a lot of money on entertainment outings with my kids… the same children who are perfectly happy running through a field with a big stick. By doing some research, I found a list of all my local historic sites and they are (mostly) free to visit. We do some reading on the place and grab a snack before we drive there and put our eyes (and hands and feet!) on it. Using the library weekly saves us a mint in books and movie rentals/purchases. I also ask friends and family before I buy certain items that they might have lying around in their garage or supply closet. I’ve gotten great wardrobe help just from swapping our kids’ clothing sizes with friends!
- This is my new favorite: when online shopping, leave it in your cart for 24-48 hours. I bet you’re going to get emails with coupons. Retailers want you to make that purchase and don’t like items lingering in carts, so if you wait, you’ll be rewarded. And in that waiting period, you get another bonus: thinking time. Thinking for a day or two about a purchase really changes the experience. So many times I’ve put this into action and ended up just not buying a thing!
- Finally–and this is the hardest one–switch out the pricier items with cheaper ones. For example, we cut out some of our weekly meat purchases in response to heavy inflation and a desire to be responsible and kind to others by not overbuying in a “meat shortage”. Meat prices are through the roof! By cutting my weekly lunch meat purchase in half and trying to do two dinners a week meat-free, I’m already spending less. Finding product dupes and lower cost items takes some time and needs to be automated as much as possible, but it is effective!
I hope this helps you save a few bucks this week! Saving money brings joy and while it takes work, it’s totally worth it because you have less to distract you from the things of importance in life. “Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.”—Hebrews 13:5