Creative money saving ideas
Saving money does not have to be such a chore. You can actually learn to enjoy saving money if you have a playful attitude about it.
Here are a few playful ideas to save money. Pick out the one that most resonates with you and try it out.
1. Get yourself a money-saving box and make up a gradual savings schedule. For example, on the first day of each month, put $1 in the box, on the second day $2, on the third $3, and so forth until the end of the month. Then restart. The monthly saving amount is $465. That is more than $5500 a year…
2. Pick a calendar month and reduce your consumption of what you normally do during that month by 10% in all areas of your life. For example, if you usually spend $100 a week on groceries, aim to spend only $90. If you normally pay $50 on fuel, aim to spend only $45. etc. Once you achieve your 10% reduction goal, pick another month and do it all over again.
3. Before you buy anything big, be creative and see if you can save even more. If you succeed, “pay yourself” the saving difference. For example, if you planned to buy a new appliance that broke down and instead you found a used one, or better yet, you were able to fix it, then transfer the money you saved into your savings account.
4. Open yourself a savings account that you can’t access until X time – for example, one year from now. Then, each month, on the day you get paid, set an automatic transfer from your checking to your new savings account.
5. Here’s a little mind trick that you can use to curb impulse buying. Simply calculate in your mind how long you have to work to earn what you’re about to purchase. For example, if you’re about to buy an expensive $8 juice and you earn $16 an hour, you’d have to work 30 minutes for you to enjoy one drink that is gone in just a few minutes. To make this technique even more effective, imagine yourself enjoying that free time instead of being at work.
Spending money can be fun, for sure, but the sense of peace that comes from knowing you are saving money and reaching your financial goals can be even more enjoyable.
* To gain more inspiration and motivation for your personal growth journey, I recommend visiting my SMART goals page, which offers a wide range of goal ideas to help you establish new aspirations and achieve greater success in life. This list was crucial in the development of my own life goals list, consisting of 100 goals that I pursued for ten years.
Chief Editor
Tal Gur is an impact-driven creator at heart. After trading his daily grind for a life of his own design, he spent a decade pursuing 100 life goals around the globe. Tal's journey and recent book, The Art of Fully Living, inspired him to found Elevate Society.
