Monday, September 4, 2017

3 Easy Money Saving Tips - Minimalism Monday

One of my goals is to purchase a home and while it can be so easy to think "that's ages away, I've got time", there is a lot of preparation and saving before that can become a reality.

Paired with the fact that I want to travel heaps and do 100 other things... saving money is extremely important to me.

So you have to start somewhere and there is no better time than the present. For this reason, I've been speeding up the money saving recently and wanted to take the time to share the tips and tricks that have worked for me.

Auto Transfer to Savings
Organise for an automatic transfer from your bank where you immediately drop money into your savings account the day your pay hits your daily account. this way it's money in and money out right away so you don't miss it at all. It also becomes a given that you have been forced to save a certain amount rather than waiting until the end of the week to decide how much you want to save.

Meal Prep
Buying lunch out can get seriously expensive. An average lunch eating out of $15 a day equates to $75 in a working week. You're better off saving that money and going out for a nice dinner on the weekend instead. Not only that, but it keeps you much healthier by sticking to your perfectly portioned meal prepped food. Look after your health and bank balance by preparing your meals in advance and packing your lunch each day.

Set a Budget
If you don't crunch the numbers and figure out how much you have coming in vs. how much you have going out you don't even know what kind of figures you are working with. Work out a budget so that you can decide how much you can possibly save, what your weekly spending limit is and what bills you have to take care of. As part of this budget, figure out all of your expenses and deduct this from your income. Figure out how much extra spending money you want to keep to play with then save the rest.

Bonus Tip
To ensure you are saving money is to add it to your daily checklist. I described this concept in 'the importance of routines + habits' where checking tasks off each day keeps you accountable and makes you more likely to achieve your goal. On my daily task list I have the goals 'cut down on spending' which I can only tick if I haven't wasted money on unnecessary things that day and 'save $X this week' which I can only tick if I save that full amount.


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If you are from a brown family these tips are instilled in us from the very start but I think they are very helpful for the newer generation.

Unknown said...

thanks for sharing

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Sophie Grace said...
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