One of the most relevant things I have learned while in college is how difficult it is to save money. Over the years, I’ve come to the realization of how much money I waste and just how easy it is to waste. I have, however, found some strategies that I utilize to help ease the painful burden of unnecessary spending.
1. Keep ALL receipts!
This is super helpful because there’s no better way to shock yourself into the reality of your spending habits. When I first did this, I was able to notice just how much I was spending here and there on things that I didn’t necessarily need at the moment. I work in retail and get paid bi-weekly so over the course of two weeks I collected my receipts and then critique my spending habits for future reference so that I can actually be a functioning adult!
2. Invest in a receipt folder!
This is a really helpful tip that I got from a co-worker. I purchased a cheap coupon folder from Walmart (got a really cute one to make it fun) and use it to store all of my receipts for the entire month. This provides an even better visual of your spending simply because it covers a longer time span. If you can see how much damage you’re doing in two weeks, you’ll be blown away by your spending in a month. Nonetheless, this will also make it easier when the next two weeks (or whatever time frame works for you) comes around. More than likely you’ll catch yourself consciously avoiding unnecessary purchases. This will leave you with more money for practical needs and will allow more flexibility for spending on wants later on!
3. Download coupon apps for us budget friendly millennials!
Even if you don’t want to take the time for steps 1 and 2, this one is really a no-brainer and requires minimal effort. Simply browse the App Store and find a coupon app that suits your shopping habits. Two of my favorites are Ibotta and Flipp. Ibotta allows you to browse and save coupons, once you collect the ones you need, all you have to do is purchase the item and take a photo of your receipt. Upon doing that, you receive cash back for all items that apply! Flipp does not offer cash back but still allows you to save by simply using the coupon. Ibotta offers a myriad of coupons but Flipp offers coupons from places other than grocery stores like IKEA, PetSmart, and Macy’s!
These are only a few of the many ways to save money. There’s no such thing as having too many strategies so if you have any to offer, let me know!