How to Save Money

In my last post, I mentioned how being conscious about energy consumption can help save money when it comes to your electric bill. When I wrote that, I got to thinking of how there are so many other ways to save money. Here’s five of my best tips I use for saving money!

#1 Set a goal

It’s hard to save money when you don’t know what you want to save for or how much you need for that goal. The first step to saving money is wanting to save money for a certain thing.

My current goal is to save money for a trip to visit my boyfriend in Washington during summer break. I have to save up the amount of a plane ticket and some spending money for while I’m there. Once I set my goal, I have a certain amount that I know I need to have. My goal is set and I know what to work towards!

white ipad

#2 Coupons and Memberships

For grocery shopping, I tend to go to Target, Vons, and Trader Joe’s. While Trader Joe’s has normally low prices, Target and Vons don’t always have the cheapest items. The best way to save money when shopping for food is to join membership programs or download the apps on your phone for each place.

I personally love the Target one because they recently combined all of their apps into one convenient app. They have Cartwheel, which is what I use for saving money at Target. You can scan the barcode of any item within the store and it will tell you if there is a coupon for it or not. If there is, you can save it on your phone and show it at checkout! Not to mention after making an account, it keeps track of how much money you have saved since making the account!

You can also find coupons for stores like Target and Vons on their websites. You can print out coupons and use them in store to save additional $$$ on top of using the apps! They also have manufacturer coupons which is directly from the brand and is usually good for -depending on the price of the product-one or two dollars off the total price.

#3 Put away money

This might be one of the easier things to do in order to save money but only if you have a lot of self-discipline. The rule that I like to follow is simple: the 70-30 rule. For every paycheck you receive, spend 70 percent of it however you would like-bills, going out to eat, shopping-and save the other 30 percent. By putting away a little bit of money each month, you can save money quickly.

Of course the 70-30 rule might not work for everyone. Even if you do a 95-5 rule, it’s still saving money! Depending on how much you can save per month and how quickly you want to reach your goal, you can change the ratio of spend to save as much as you need to before you’re happy.

#4 Find discounted shops

One of the best ways to save money is to find clothes or items already discounted. The shops that are best for this are outlets, discounted online stores, and applications.

Outlets, such as the ones near Ventura, CA, the ones I like to go to, offer recent and sometimes even current styles from the brand within the store. One of my favorites is the Lululemon Outlet, where they have everything discounted. There’s also the Coach outlet, the Calvin Klein outlet, and other stores such as Nike and Adidas.

If you want a nicer style, this is a good way to get started since the clothes and items are significantly cheaper than their original price!

#5 Make a budget

If you’re the organized type, making a budget might be your best bet. Having a clean set of numbers to look at and keep to is sometimes the best way for people to save money. For me, keeping to a budget is harder than the other ways I mentioned to save money. Depending on the month, I might spend more in the shopping category or more in the eating out category.

Setting a budget can be difficult, especially if you need to add several categories to your plan. You can have a set amount for paying monthly bills, for groceries, and for shopping or dining out. Other categories, such as education/school expenses, supplies for kids/pets, or occupational expenses are other things that different people have to think about. As a college student, I’m lucky to only have to worry about a few categories. Other people might have to budget for more.

For others, this is how they save. By only spending a certain amount each month, whatever they don’t spend go towards their savings. It’s one of the most popular ways to save, so I definitely recommend it.

black calculator near ballpoint pen on white printed paper

Those are all my ideas and ways to save money! I hope that they help you in every way to save as much money as you’d like.

Thanks so much for reading!

Love,

Kaitlin

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