Tips on Saving

This is coming from a girl who has never owned a credit card or debit card. I’ve never venmoed anyone or used Paypal.  I’ve cashed many a check earned from my own hard work. But I have always paid in cash when I go out. And I’ve never spent over $100 at a store at one time. I don’t consider myself a model of thrifty spending but I have learned some tricks of the trade over the years and here they are.

• If you find a product and you aren’t sure you want to buy it, take a picture. My good friend Adam Biggs taught me this. Taking a picture means you won’t “lose” the object and can come back and get it at a later time. It can also stop you from making an impulse buy.

• Pause to ask yourself some questions. “Will I use this a month from now? What about a year from now? Will I use it more than once? Will I use it more than once a week” This might open your eyes to the usefulness of the object or will you just be blowing all your money on a one and done.

• Set a spending limit before you enter the store. This will obviously vary based on the store but if you know Barnes and Nobles is your weakness you might want to be firmer on that spending limit than a store you usually only get one or two items like Target.

• Develop a budget. There are a plethora of sources that show you how to develop a budget but most budgets including incoming cash, necessary expenses and money to put aside for both fun and savings.

• Limit dinner “dates” (can be with partner or friends) and other costly expenses to once or twice a week. Try to do things that are cheap or free like a local poetry night, seeing a local band or getting froyo then going on a walk in the park. Sometimes my boyfriend and I will literally get snacks and sit in the car listening to Reddit Posts or Pitch Meetings. 

• Another way to save expenses is to make homemade gifts instead of buying them. Bear in mind this is not taking the easy way out. If you make Christmas presents for family and friends you better be starting in September. Homemade presents require time. You don’t want this to look like something a kindergartner put together in ten minutes. Plus supplies do cost money as well.

• You know what is pricey? Being a label whore. Designer jeans, bags, jackets….why is the extra “Gucci” “Chanel” “Prada” so important? Are you trying to impress someone? Are you trying to prove something to yourself? Do you consider brandless clothes and jewelry “lesser”? Do you know why? It’s something to think about.

Here’s t he basic economics lesson you gotta know in order to become a functional adult. I’m barely a functional adult but hey I guess we are all good at pretending.