Let’s face it, we could all benefit from saving some more money each month. Here are 10 ways you can easily save money to feel more like a mature adult and less like a broke college student.
1. Piggy Bank
Piggy banks may be cliché, but they’re extremely helpful when saving money. Think about all the extra change sitting in the bottom of your purse, on the floor of your car, and in between the couch cushions. All that change adds up! Plus, piggy banks are cute and simple to make! Here are some DIY piggy bank ideas if you do not want to purchase one (therefore saving you even more money!).
2. Savings Account
Setting up a savings account at a bank is a great way to save money and even earn a little interest along the way. Setting a short term savings goal is recommended. Another good idea is to take a certain percentage of each paycheck to place in the account. For example, if you chose 10% of each paycheck to go into the savings account and your paycheck is for $100, $10 would be placed into the account.
3. Acorn App
The Acorn App is linked to your credit/debit card so every time you use the card, the app rounds your purchase up to the nearest dollar and puts that extra change into a savings account, or invests the money for you. This app is an easy way to save money, or effortlessly grow it!
4. Coupons/discounts
You know those little annoying pieces of paper Target gives you with your receipt? Those are coupons that can save you money. We recommend using those coupons, which are personalized to what you just purchased, and also searching store flyers for the latest coupons and discounts that can save you a few bucks. Don’t worry, you don’t need to have your own show on TLC to coupon!
5. Hit up the sales!
Whether it be food, clothes, or dorm room décor, there’s probably a sale going on somewhere. A good shopping tip is to always start at the sales rack upon entering a store to see if they have what you need before moving to the rest of the store.
6. Stay in instead of going out
Going out can cost a lot of dough — just think of all the money spent on gas, food, and activities. Call up your friends and make it a night in every once in a while!
7. Do not eat out as often
Food is amazing. Chipotle is addicting. We get it. But going out to eat all the time can become very expensive. If need be, limit yourself to only going out to eat once or twice a week.
8. Make a list of needs vs. wants
This is a great way to distinguish between things you actually need and things you only want because Kylie Jenner made it. This way, you can prioritize your must haves, and hold off on the wants. For the things you need, such as groceries, make a list and stick to it when you’re at the store. Don’t add an extra five items because they’re calling your name.
9. Do not buy on impulse
We know that window shopping can quickly turn into a vicious day of spending money you don’t even have. Be cautious of this! Try utilizing the 30 day rule in which you wait on purchasing something for 30 days. If after 30 days you still want this item, then buy it. But if you don’t, move on to the next!
10. Sell the things you do not need anymore
This isn’t exactly a savings tip, but it’s still helpful. It’s a good idea to clean out your room, especially your closet, and get rid of anything you may no longer need every so often. eBay and apps such as Vinted are good ways to sell these items and put a few extra bucks in your pocket that can later be put into your piggy bank or savings account!