Did you resolve to “save more money” in 2019? If you took one look at your recent credit card statement (or empty bank account) and thought, “whoa there sister, time to get this thing under control!”…Then this post is for you.
Saving money is never a bad thing, but trying to do so without a plan is a recipe for disaster. Unfortunately, money still doesn’t grow on trees (drat!) but saving money over time is definitely within reach. So, how can you go about adding to your stash of cash this year? Try curbing your spending with these tips:
1. Use Cash
According to a recent report from Bankrate.com, studies show that close to 50% of Americans carry $20 or less in their wallets each day. Why? Because carrying a credit card is SO. MUCH. EASIER. If you’re looking to reduce the amount of impulsive, unnecessary purchases this year, consider carrying cash. You’ll have to think twice before forking over the bills in your purse and just might be more likely to hold on to them instead of splurging on that afternoon latte.
*Pro-tip: carrying cash makes tipping at a restaurant or splitting the bill with friends significantly easier.
2. Delete your credit card information from any websites
I can hear you now, “But it’s so much easier to pre-load my credit card information because I hate looking it up each time!” Do yourself a favor and delete all of your personal payment information from your favorite websites. Yes, I realize that it will take you longer to complete your purchase at the checkout, but that extra bit of time is worth it in order to prevent you from unnecessary spending AND hackers from having access to your personal information. Win-win!
3. Check out online as a “Guest”
Again, the idea here is to make it less easy to routinely shop online. Online shopping is definitely an incredibly convenient and sanity-saving option, but this same convenience can wreak havoc on your budget. The next time you make an online purchase, check out as a “guest” and resist the urge to save your personal information to the site or sign up for the retailer’s mailing list. You will reduce the amount of exposure to your personal information and will save yourself a tempting promotional email to delete in the future.
4. Delete emails from retailers and other promotional vehicles
This one really gets most consumers, especially around the holidays. Retailers now can send out personalized email offers to your inbox, tempting you with “limited time exclusive offers” on the latest, greatest thing. If you’re particularly susceptible to this type of promotional campaign, consider unsubscribing from these popular lists. Hop on over to Unsubscriber for the easiest, least time consuming way to declutter your inbox.
5. Love something? Think on it for 48 hours
Those amazing shoes you absolutely HAVE to have? Resist the urge to “add to the cart” and instead, think on them for 48 hours. Give yourself plenty of time to evaluate how this purchase will affect your financial goals, your budget, and your current payment schedule. The shoes may be a cute accessory for your next night out but I can promise you that credit card debt is a stage-five clinger you don’t want around.
6. Don’t let social media get the best of you
Social media: society’s highlight reel of superficial, highly edited, and unrealistic posts. As difficult as it may be, try not to let social media negatively influence your behavior and your attitude. Don’t fall victim to the “Keeping Up with the Jones’s” mentality and base your self-worth on how many likes you’re able to achieve on Instagram or Facebook. Instead, challenge yourself to reduce your screen time or start using social media for it’s true intended purpose: establishing (or sometimes re-establishing) connections in order to foster a supportive sense of community.
Need additional help setting up your budget and sticking to a savings plan? We can help! Reach out to Brittan@weareoneseven.com today!
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