Throughout the past ten years of being together with my husband (married almost five) we have learned a lot about money. We went from being high school students spending money on fast food and activities to college students with hardly any money in our bank accounts. Then, as a teacher the only savings I accrued was through the teacher retirement system. I got a brand new car with a loan to add to the debt I already had from student loans.
When my husband started his career he took the time to become more informed about finances. He started to build up our credit, savings, and investments, and help pay off our loans. When we were introduced to Dave Ramsey and the concept of financial freedom we were very interested. Since this mindset change we have been working hard to save and make money in small ways to reach our goals. Here are 9 smart way to save money so you can meet your goals too!
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1. Don’t buy things you don’t need
I’ve said this before, because it’s true! It may sound simple, but you can save so much money by just not spending it on things you don’t need. If you adopt a minimalist mindset, then you really start to realize that you do not need a lot of the things you already have even. Any time before making a purchase ask yourself this question and maybe even wait a few days before following through to see if it is actually necessary to buy.
2. Budget
Abraham’s Wallet has so many great resources along with Dave Ramsey in regards to budgeting. One idea I love is for you to plan your meals and only buy what you need at the store. Impulse purchases can drain your wallet quick, so another way to stay on track with groceries and other items is to only pay with cash. This method typically implements envelopes that you carry with the designated amount of money for each item in your budget.
3. Buy Second-Hand/Sales
You can save so much money by shopping at thrift stores and looking for items on sale. We have found so many amazing deals and even got a dining room table and chairs made out of real wood and a patio table and chairs fro free on the facebook marketplace. Another great way to save money is by looking for coupons to use. We also shop for a lot of items in bulk and go to different stores based upon where we find the best deals.
4. Get a credit card
Growing up I was always told not to ever get a credit card since you shouldn’t spend money you don’t have. My husband has taught me the benefits of having multiple credit cards. Not only can this help you gain amazing credit, but there are also different rewards for each card you get. Some cards we have earn us points for travel (airfare and lodging), others earn us points when we buy groceries, etc. We never spend money we don’t have, and always pay the card off in time.
5. Prioritize your health
You can pay a little more in the present or a lot long term trying to regain your health. Pay money for supplements and nutritious food now or pharmaceuticals and doctors visits constantly feeling sick and seeking answers. When you address the root cause it may cost you more initially, but by improving your help you save so much money and time in the long run. Check out one of my recent blogs on secret things that could be causing your health to decline to jump start your health journey.
6. Find a side hustle
There are so many great opportunities online these days that you can make extra money. Whether it’s teaching, selling, or starting your own business. We have found many creative ways throughout the years that have added up and helped us reach our goals quicker. Especially since we have moved a lot and I stay at home with our son. Living off one income as someone who has always worked has made me seek different ways I can contribute financially.
Here are a couple ideas that have worked for us. I love all of the ideas below, because there is no requirement or time constraint. We are able to do these in our extra time as we please. (You can monetize almost any hobby or thing that you enjoy doing.)
- Finding deals on items and selling them on amazon
- Selling books through Usborne. Talk to me about how you can join!
- Selling items from our home that we don’t use/need on Poshmark, Facebook marketplace, and offerup
- VipKid is an awesome way to make extra money teaching online
7. Live On Less
When it’s possible, always aim to live off of less than your income. This allows you to build up your savings or pay off debt and not get into a financial crisis. It is always wise to live well below your means so that you can accrue wealth and not constantly have to live paycheck to paycheck. If you spend every last dime you earn, that’s not a good place to be financially.
How do you save your money? I hope some of these tips were helpful. It’s always a great idea to implement some of these practices in case of an emergency so you can have a cushion and not stress living paycheck to paycheck. No matter how much you make, there is always something you can do to capitalize on that money and make it grow and work to your benefit. Check out this post for some awesome books about money!
