Remember when saving felt more like a fun project and less like a death sentence?
I don’t!
Let’s face it, being a responsible adult is not always easy.
In fact, the idea of saving money can be painful sometimes!
Very few of us actually want to give up our creature comforts or drastically lower our standard of living in order to pinch pennies.
And it’s downright hard to have to tell a child or spouse that something is out of the budget this month.
But meeting those big financial goals like building an emergency fund or paying off debt will take some serious effort on your part.
And although it’s not always fun to make sacrifices with the big picture in mind
The good news is, there are many ways to save money without having to make big sacrifices.
Here are 9 painless ways to save:
1. Pay Yourself.
It goes without saying, we all have to pay the bills. Create this same obligation to yourself and pay yourself by setting up a savings account with an automatic transfer. Start with a small monthly amount then increase it as
2. Cut your cable.
Most of us enjoy watching at least a few shows each week to relax and unwind, but what if you could access most of the shows you love for a whole lot less? Cable is FULL of hidden fees, plus it seems we’re always dealing with random price increases or channel packaging changes.
If your cable bill is running you over $20/month, you’re paying too much. Surprised?
3. Switch to a bank that pays.
Online banks can offer some unique savings since a lower number of brick & mortar locations allows them to pass their own savings on to you in the form of better interest rates and cash bonuses. Do some research to find one that works for you.
4. Take advantage of special discounts.
Are you a student, senior citizen, a teacher, or in the military? Always, always ask for the appropriate discount. Sometimes stores and entertainment facilities offer discounts but don’t post them or actively advertise them. Be brave. It doesn’t hurt to ask! Check with your employer to see if you’re qualified for savings on anything from your phone bill to your business attire.
5. Plan Your Purchases.
By planning your purchases, you can take advantages of year-end sales. It will also give you an opportunity to shop around.
6. Identify Your Budgetary Achilles’ Heel.
We all have our guilty pleasures. By identifying them, it’s easier to develop a cost-reducing strategy. You like good coffee, then you should invest in an espresso machine. You’re into cycling, take a mechanic class and repair your flat tires yourself.
7. Turn Credit Payments into Savings.
A lot of people make big purchases like their first fridge, couch or car on credit. When these payments, redirecting the payments from this expense to your savings can make a big difference. Continuing with the “payments” will help you create a savings habit without additional sacrifice.
8. Protect Your Savings from Yourself.
If the temptation is too great to crack open your piggy bank, you have the option of choosing an investment guaranteed over a term of 5 to 10 years. This way you can’t touch it and you’ll enjoy enhanced returns.
9. Shop Around for Insurance
It’s easy to forget about the expense of car insurance, homeowner’s insurance, and other insurance you may have because they’re on automatic payments or paid infrequently, but those dollars add up fast throughout the year. Shopping around for insurance every couple of years can save you big.
None of these tactics will be life-changing on their own, but they can make quite a difference over time if you’re able to implement them and stick to a few long-term.
No matter where you are on your financial journey, you need to know that it’s possible for ANYONE to turn their financial life around.
Sometimes all it takes is that first step in the right direction to get things moving.
Until next time…..
I look forward to hearing from you!!
Althea
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PS. Yes… I’m a nurse, but did you know that I have a side hustle? I’ve partnered with a leading financial service company and the number one thing they do is credit restoration. We’ve helped many people since I started on this journey and always looking to serve more. Check out these links…. Fix Your Credit and Earn Extra Income.
My goal is to connect people, ideas, and resources so that your life is better because I helped you make the right connection!!
