It’s really not cool that something had to happen to trigger the need (or desire) to save MORE. Saving more money in 2018 is my goal for the year and I hope to encourage more people to join me.
I recently had the unfortunate luck of having my iPhone software reset. I had the daunting task of reinstalling all of my apps from the App Store. While doing this exercise, I realize that I had an alarming amount of shopping apps and shockingly all were linked to my credit cards. This discovery led me to really do a self evaluation. I am going to save my money in 2018.
Our lives are all different and we are not at the same financial level and that’s OKAY. This journey is beneficial to everyone regardless officer financial level, age, sex or race. Trust me, even the rich want to learn ways to save and have MORE money in the bank. Join me on my journey to save more money in 2018 and keeping our coils!
So what is my plan? Well I don’t really have a system yet but I am going to build one and share with you as we go. I really want in return, your feedback and advice on how to keep my coins in the bank. Below is a list of things that I know we can all do to improve on saving. As the weeks go by I will write articles on how to dive into, and really get the most out these tips. I will be researching and reaching out to advisors and others who have gained success with these tips. I am no expert - let me put that out there. I need to accomplish this goal just as much as you. I will share with you as we journey together to saving more.
Tips to save more in 2018:
- Do not look at saving as an unattainable goal. It doesn’t matter if you are being paid at minimum wage; you can still save. Even if it’s a quarter a day, it adds up. We can do this! Just keep checking back for these tips to be elaborated on. Also, bare in mind that we can still have a life and save. I think doing a 52 week saving challenge is a great way to reward your self at the end of the year - 2018 Christmas present 🎅
- Get a small notebook designated to savings. You can also use the notepad in your phone if you are just not the paper type. I honestly believe that seeing things written down, will resonate more. It makes the journey so much more impactful.
- Self Evaluation. This is the most important step. Ask yourself, why am I still reading this post? Why do I want to save more money? What are the financial issues that plague my life? List it all out in your book - in no specific order.
- Debt Evaluation. List everything you owe - regardless of how cheap it is. Do you owe your coworker for that cup of coffee from yesterday? List that too.
- Budgeting. I know that most people are scared of this word - allergic even. Budgeting is planning how you will afford to live. Budgeting is planning out how and where can you save - even if it’s a quarter per day. A Budget is a plan. You remember the phrase 'If you fail to plan then you plan to fail'? This applies to saving too. Saving need to be a serious line item.
- Cut unnecessary spending.
- Do you really need to have lunch at Chopt everyday? Why don’t you pack and bring your lunch to work.
- Do you need that to buy that cute shoes that you added to your cart? Do you not have already have nice shoes? Come on stop it. lol!
- Do not shop for wants only NEEDS.
- Paying yourself. This is the fun one. Remember in tip #1 I said you need to live. Well her is where you will get your play money. BUT make sure it was budgeted for in tip #5.
- Budget your self-paycheck. Yes you read right. If you paid yourself $200 per paycheck are going to just blow it off in one shot? I would hope not. You need to create a budget for your set paycheck that you will be paying your self. Make it last. If you didn’t use it all - they voila - more money to save.
- Opening the right bank accounts. This is crucial to this saving money thing. You need bank accounts that have a good interest rate. 98% of the time these banks do not have a teller. They are online banks. Personally I love AMEX High Yield savings account with 0.90% interest rate. I will be researching other banking options so I might just find something better. We'll see.
- Limit Credit card usage unless you ALWAYS pays it off in full each month. Cards that allow you to use your points towards paying your bills are major to me.
- Learn to say no. I am sorry if I sound mean, but YOU ARE NOT a walking ATM. You need to save and better yourself. Helping family and friends (using your self paycheck) is fine sometimes you need to be selfish sometimes. You worked hard for your money. Sorry….....not sorry.
- Earn more money. There are other ways to increase or
income. The most extreme is to get a second job. However for those like me
who cannot do a second job, we have to find other ways. One way is with
online surveys and attending paid seminars (yes people actually get paid
to sit and listen to seminars). I will collect a list of these sites to
register and share with you.
Another way is to enroll in money back shopping sites like Ebates. Before shopping on line, log in through Ebates and you will get cash back on you purchases. I will post more details on Ebates.
What advice do you have on how to save more money in 2018? Please share with us!