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LIFESTYLE

Money Talk: Half-way through the Year

    Was saving money on your New Year’s resolution checklist? Most likely yes! As we are half-way through the year, this is the perfect time to reflect back on the previous months and find out whether you really improved your finances. 

    June is already here, and the chances are high you already forgot about your plans to improve your finances.  Rest assured – this post is not encouraging culpability, although I know all the unnecessary coffees, t-shirts, plants and sweets you keep buying just crossed your mind   

    We all have guilty pleasures and indulging once in a while is perfectly fine. However, if you get a mini heart attack every time you check your bank account, then I believe it is time for a change. Fortunately, for all the guilty ones, I have gathered some useful tips on saving money that will help you get back on track with your resolution!

    1. Use the 24-hour rule! 

    The 24-hour rule states you should not commit to big purchases without sleeping on the decision overnight. I have recently started implementing this rule and I find it particularly useful! If, for instance, I see a dress which I love but it is on the pricey side, I will not buy it immediately, but will come back the following day. In case I am too lazy to do that, that tells me I don’t actually need the item that much :) 

    2. Aim for short-term saving goals

    The way to save money in an efficient way is to make small goals, such as setting aside $15 a week and doing it consistently. There is no point in setting unrealistic goals, as they won’t bring any good long-term. Besides setting aside smaller amounts of money, saving your loose change easily builds up in a nice pile! 

    3. Save automatically!

    A useful app which helps you save money is Digit. Digit looks at your current income and expenditures, calculates what you can save, and puts the money aside on a Digit account. Learn more about the app here!

    Setting up automatic savings is also an efficient and easy way to save money. Every pay period, have your employer deduct a certain amount from your paycheck and transfer it to the savings account. In this way, you don’t have direct contact with the money and you are less tempted to spend it! Learn how to set up an Automatic Savings Plan here!

    4.Implement more DIY 

    DIY is a great method to save some cash! We tend to spend a lot of money on gifts for birthdays, anniversaries and weddings, which is really nice, however, a DIY gift is sometimes even better. Some ideas include fresh-baked cookies, soaps, candles. and books. These are gifts everyone will appreciate, and you can add a personal touch with a handwritten note. For more DIY inspiration, check this article!

    5. Save on clothes and drinks

    Every now and then, we should reward ourselves with something we truly crave for, whether it is clothes, food, drinks, or anything else. However, rewarding ourselves constantly does not bring any good: the reward will not be as appealing, and we will just end up spending a lot of money. If, for instance, you really want to have drinks with your friends, why wouldn’t you invite them to your place and make some homemade cocktails? There are plenty of things you can do without spending much money: play some cards, watch a movie, do a painting session, and you will have an amazing evening! Check this article for cool games inspiration!

    6. Start selling your stuff!

    Sell all your unnecessary things and put the earned money aside! Organize a sale in your neighborhood or join any event where you can sell your clothes and furniture. I love this practice as it will not only help you get rid of unnecessary things and free up extra space, but you can also earn a few bucks. Can’t find any events where to sell your stuff? Check how to organize your own garden sale here!

    7. Sign up for all the free customer reward programs

    I generally hate going through catalogs to look at what is on discount and receiving tons of emails from stores. However, I have recently opened a separate email account only for these emails, and it comes in very handy! Every time before shopping, I scan through the emails and see what is on discount. I have recently found an app called KeyRing, which combines all your rewards cards onto your phone. How cool is that? ;)

    If you start incorporating one new rule every month, by the end of the year, you will officially be a Money Saver Pro! In the meantime, I encourage you to download this extensive Ultimate Money Saving Checklist with 200 extra tips! Print it out, stick it to your wall, and start saving ;)

    Until January! 

    Una 

    xx


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