Little Things I Do To Save Money
As I mentioned in my post all about my goals for 2020, I am working really hard in the next year to save money. Part of the reason I’m really focused on saving, is because I’ve reached the point in my twenties where I’m just generally turning into more of a saver than a spender. I’m not that interested in buying things just for the sake of buying them, and it brings me far more joy to see my savings account increase than to have more material things in my life. I also have a lot of larger expenses approaching in the next few years that I am working towards, such as paying for our wedding and hopefully being able to buy a house in the next few years, both of which require a pretty regimented approach to saving! Here is a run-down of all the small things that I’ve done to cut back my spending and grow my savings.
Weekly Auto-Transfer to Savings Account ~ This might seem like an obvious one, but setting up auto-transfer every week from your checking to your savings, is one of the easiest ways to save consistently and substantially over long periods of time. I have a running auto-transfer from my checking to my savings that runs every single Monday morning to ensure that I am saving a minimum amount of money. Of course I make other, larger transfers to my savings on a regular basis as well, but having a recurring transfer helps to stay on track with saving a certain amount every month no matter what!
Keep Track Monthly of Your Recurring Expenses ~ It’s so easy now-a-days that everything is a subscription to lose track of everything you are paying for on a monthly basis. Between Spotify, Netflix, those random app purchases, and utility bills, it can be really easy for your monthly expenses to add up even though they might seem small when you sign up for them. I like to go through my monthly statement every month to keep track of my monthly subscription costs and make sure I’m actually using all the things I’m paying for, and if I’m no longer using them, they get cancelled immediately!
Think About Large Purchases for Over One Month ~ One of the things that can absolutely ruin your savings is spontaneous purchases. Something might seem really appealing and it might offer some instant gratification having a #treatyoself moment, and while I’m all for treating yourself, I think there’s a way to go about it in a more responsible and conscious way. Whenever I want something that costs more than $50 I try to think about it for over a month before purchasing (of course this mainly goes for superfluous things and not necessities like food and other expenses). Most of the time, if I let several weeks pass, I’ve forgotten all about the item that I had previously been dying to purchase, and if I truly have not gotten it out of my head, done proper research on the item, and have visualized using whatever item it is in my daily life, then it is likely that it will be a purchase worth making!
Spend Time Taking Care of Yourself ~ Ok this one may sound like a weird one, but I find when I am taking care of myself best, i.e. getting good sleep, exercising regularly, spending time outdoors and seeing friends and family I am less likely to spend emotionally. The periods of my life where I have been the least fulfilled and the least happy are the times where I spend superfluously. This might not be the case for everyone, but I have found that when I am taking care of myself, which often requires spending little to no money, I am less likely to seek out short-term happiness in the form of buying things unnecessarily.