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Thursday, January 30, 2020

Tips to Save Money in 2020

The holidays are well behind us and you may or may not be sticking to your New Year's Resolutions. #nojudgement 

It's easy to squander away all your hard-earned-coins during the last few months of the year on friends and family and travel costs to see said friends and family. It definitely takes a moment, or two, to recover. 

I wanted to share a few tips that help me save money and keep a strong grip on what's flowing in an out of my wallet.  Read on for continual bank account greatness...

Lay low from time to time
Take small breaks from going out for dinner, drinks, movies etc...just a few weeks can allow your checking account to recover and come back to life. Once you feel more comfortable with where your account stands, then start scheduling Sunday brunches again. 

Put a chunk of your check into your savings account 
If you can manage to pay your bills and then put some of your paycheck into your savings account, do it. Do this every-time you get paid whether it be $50 or $1500. Putting money aside bit by bit can provide a solid cushion for other financial goals or investments in the future. Adding to your savings bi-weekly can help build up to that! 

Don't touch your savings account
I only go into my savings account for emergencies, travel, and investments. Thats it. I really take my time to consider a big purchases before I buy them rather than impulsively buying something that's expensive and really not needed at all. 

Use cash or a debit card
I have solid credit from building it over time, but I really don't like credit cards. Spending money you don't really have is just a recipe for disaster. Instead, use cash or a debit card to make your day to day purchases and to pay bills. This way you know the set amount of dollars you're working with so you're less likely to over-spend.

Ready to start saving? 

Photo by Oleg Magni

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