I think it is understood that we all enjoy the times when we treat ourselves. Rather it be from eating at an expensive restaurant, shopping, or racking up flight points, trying to live a comfortable life while enjoying the splurge continues to be a daunting task in adulthood. Student loans, high rent, low wages, living paycheck to paycheck, and all-around poor spending habits, looms over our heads with every swipe of our credit cards. But like our parents and grandparents, maybe it is time we get real about saving for a rainy day!
Here are some quick tips to jumpstart your savings journey.
There’s Food At Home
Maybe mama wasn't lying when she would yell no to Mcdonalds because we had food at home. The saying is true. Planning your meals ahead, especially your lunch, can make a huge difference in your savings account. Look to see how much you spend on lunch during your workweek on average. Now, think about the meals you can make at home and the money you would save. Makes sense? I know it’s tough, but give it a try. Make it fun by exploring new recipes and challenging your friends to do the same.
Special Offers Could Help
How many times have we turned a blind eye to someone trying to sell us the latest cable and high- speed internet upgrade? But if we stop to listen, the deal may be worth it. From shaving $100 off your bill a year or so, that special offer can help you add to your savings account. Put a couple of hours aside to look over your bills. Write them down, and see what is out there that could eventually help you save. From phone bill deals, to how many streaming services you pay for, to your car insurance.
You Don’t Need To Go Everywhere All The Time
Don't let FOMO make you go broke! It is okay to sit out if you don’t have it. You don't have to go on every trip or out every Saturday. Find other ways to engage with your friends that may help you save. Host a game night or a movie night twice a month on a weekend and see how much you save. Look for the best deals when traveling and plan ahead. Last-minute trips mean more money spent.
We all know that the first step is admitting that we have a problem, and when we evaluate our spending habits, we will start seeing our problem. I will admit, that after a couple of cocktails at the bar, I start thinking I am Santa Claus and all drinks on me! Now, what is your problem? Take a moment to look over how you spend and what you are spending your money on. I have a friend who saved up enough money to put a down payment on his first home after he stopped going out every weekend. Maybe for you, it's always ordering the most expensive meal at your favorite restaurant. It is okay not to have the lobster, all of the time!
Separate Your Needs Versus Your Wants
Although I am no expert, I do know that you don’t need a new outfit every time you go out. Do you really need the latest iPhone when your phone works perfectly fine? These are questions to ask yourself when you plan on splurging. Yes, enjoying the finer things is always great! But treating yourself cannot be every other day when you are trying to save. Start making small decisions when you are out, and see the benefits from taking a moment to think about what you actually need and what it is you only want.
A Budget To Turn Up
Listen it is hard to save. You want to enjoy the money you work hard for, but think about how much more you can enjoy that money when it isn’t always wasted. With that said like to partake in the turn up every once in a while. Try putting money aside, call it your “turnup budget.” Make a promise to yourself that the money in the budget is what you have to spend, and that's that! Small steps will make for a bigger future.