financial

Top 10 Tips to Saving Money

Hi y’all,

It’s now August, which means that we’re headed toward the holiday season! However, it really doesn’t matter what time of the year it is, it’s always a good idea to save money.

Top 10 Tips to Saving Money


I’ve done a few posts on money in the past like what if I had an extra $1000 or what a month of spending during quarantine looked like.

First and foremost, I do not work in finance. I’m a teacher. This means that I constantly am working on a budget.

It’s so important to save money. I cannot tell you the amount of people I know that are living in debt because of the choices they make constantly.

Here are my top 10 tips for saving money:

  1. Create + stick to a budget. I talked about how I created a budget here. This is so important and it’s also really important to realize what are necessities versus wants.
  2. Say yes to free things. There are so many things (like going for a hike) that are FREE! Take advantage of these things.
  3. Prioritize paying off your debts. This one is huge! Make sure that you’re able to pay more than the minimum payment every month toward the debts you have. This way, you won’t accrue as much interest.
  4. Sell what you’re not using. This is where I need to take my own advice and sell some clothes. If you’re not using it, it’s taking up space. While you might not make back all the money you spent, you’ll at least have a little extra in the bank (and some new room as well).
  5. Check your subscriptions. This is where you might be spending a lot more than you think. Do you need all the subscription services that you have? Go through each your credit card statements and maybe you’ll find some that you didn’t even know you had!
  6. Have a side hustle. Y’all, if you have a side hustle (blogging, tutoring, etc.) this is a great way to increase your savings. I do not add this money toward my budget so it really is just extra savings!
  7. Use sites to help you save money. There are tons of cash back sites that will help you save money or help you earn additional money back.
  8. Evaluate what you’re spending money on. Don’t just buy something because it’s the hot new item. If you have a camera, you probably don’t need to buy a second one just because there is a “better” (aka newer) one on the market. You don’t need a new iPhone unless your battery is constantly draining or something doesn’t work.
  9. Shop in thrift stores, ebay, poshmark, etc. You’ll be shocked at the great things you’ll find without having to pay normal retail prices.
  10. Remind yourself it is okay to splurge occasionally. Just like with losing weight, if you cut something off completely it doesn’t work very well (aka you end up eating a ton of something you shouldn’t). I bought my Louis Vuitton Neverfull by saving up cash back on my credit card and combined it with my tax refund, along with some savings I had. Did I splurge on it? Absolutely! But I splurged smartly and that’s the difference.
  11. A bonus tip for you! Spend your money where it counts. Just because you like to drink wine doesn’t mean you need to go to the winery every weekend. That gets really expensive. Instead, buy a bottle of your favorite wine at the store and drink it at home!

xx,

Lindsey

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