Money can be a sensitive topic. Luckily, it is not for us, and we want to help you with saving up some money. Spending is fun, but it is smart to have some money saved up as well because you never know what might happen!
Do you find it hard to save money? Some people need to have big savings account to feel secure (lucky them!), but some just love to spend most of their money (we do, too!). But even the people who are not naturally born as savers can learn how to penny-pinch. We know some tricks that will help you do that – and you won’t even notice that you are putting money aside, we promise.
Why should you even save money?
First of all, we would like to acknowledge that we realize that it is a huge privilege to be able to save money. Not everyone can afford that, and we are aware of this. But if you are reading this article and you have found our blog, chances are pretty high that you feel like you could do a little better with your money. That is great, and it is the first important step, so congrats!
But are you still not sure why you would even need to put money aside when it is just so much more fun to spend your money? Well, if you do not have anything specific to save your money for, it is definitely harder to find your “Why”. But we can guarantee that it will feel good to have money saved up. What if you all of a sudden need to get your car fixed? Or what if all of your friends are going on a weekend getaway but you do not have enough money saved up to go with them?
So saving money is just a wise way to be prepared for anything that could occur in your life that you would need a little extra money for.
Five tips on how to save money
We have gathered five small tips that might make your life a little easier when it comes to saving up that extra cash.
1. Have something to save up for. If you know that you are saving up for a mortgage, a new car, a wedding, or a nice vacation, it will be so much easier to actually put money aside. Because you have a goal and with that, you also have something to look forward to! If you do not have a specific goal just think of all of the things that you might spend that money on at some point. Your dream dress is all of a sudden on sale? No problem, you have money saved up! Or you are in desperate need of a little weekend trip? No problem, if you have money saved up!
2. Use an app. Many different apps can help you to save up money. Some of them can be connected to your bank account and you could round up each amount you spend on your card. That rounded-up amount will get automatically sent to a savings account. Some apps analyze your spending and showcase where you might spend unnecessary money. We know these daily coffee runs feel so good! But if you cut them in half and save that money instead, you could be saving so much. It might not be a coffee run in your case, but we all have something that we spend money on that is a little unnecessary, right?
3. If you do not already have a savings account, definitely make one. And figure out how much money you could spare each month. Just make a list of all of the expenses that you will definitely have like
- rent
- insurance
- car costs
- groceries
- activities (you should allow yourself to also use some money on “fun”)
And then figure out how much money you would have left after taking those expenses away. That extra amount could be automatically sent to your savings account, so you do not even have the option of spending it!
4. One thing that might seem small but can pile up to a lot: save your change in a separate piggy bank. If you ever pay cash and get back coins, it makes sense to save them in a piggy bank and then, after some time, bring it to your local bank to exchange all of those coins for bills. Depending on how often you pay cash, those coins can actually turn out to be a nice amount of money. And you won’t even feel like you were missing the money! It will feel good to put the cash into the piggy bank, your wallet will be lighter, and your mood brighter once you turn the coins into bills!
5. One last tip: pay your bills on time! Those little penalties for paying a bill late might not feel like a lot at the time. But boy, do they pile up! If you have five bills a year that you paid too late, and even it was just a 5 dollar penalty each time, that was 25 dollars just wasted! That is not smart, so let us all pay our bills on time.
Are you ready to save up your money?
So, do you have the motivation to save some money? Then you will definitely be able to do it! You can follow this blog for more money-related topics!