We recently asked members of the BuzzFeed Community to tell us what helped them actually save money in 2018. Here are some of their responses:
1. Put away $10 every single week. By the end of the year, you'll have more than $500 squirreled away.
"I use an app called Acorns that automatically withdraws the money from my checking account each week. It won’t withdraw the funds if my balance falls below a certain threshold either. Also, it automatically will invest your money toward stocks and shit. Idk how it works, but the little bits of money they earn for me really adds up."
2. Save, don't spend, your income tax and any other extra money you come across.
"Save your income tax!!! Do that with any other extra money like bonuses, money you find, cash gifts, etc."
3. Set monthly challenges for yourself, like no dine-out January and essentials-only February.
"I’ve started doing monthly challenges/goals for an entire year. For instance, in one month I may try taking my lunch to work every day, then the next month have a garage sale or try not spending except on essentials only (food/utilities). With January coming up, it’s a great way to start planning some financial goals for the upcoming year."
4. Keep only a limited amount of money in your checking account.
"The biggest thing that’s helped me change my budgeting around is only keeping what I need in my checking — everything else goes to my savings. For example: I only keep $500 in my checking at all times. That’s enough for small purchases and when my bills get automatically taken out."
5. Pack your coffee, lunch, and snacks for work instead of buying them every day.
"I'm not shaming anyone — treating yourself to a latte or lunch a couple times a week is great — but I have friends who have a 30+ min drive to work and finish their coffee on the way there and hit up a coffee shop before heading in to work. Invest in a Thermos or use a big Mason or pickle jar. You can save $10 a week if you aren't buying one every day."
—Trillian McCarty, Facebook
6. Break your credit card habit by only paying for things in cash.
"Paying for things in cash has helped me really think about how much I'm spending, and where the money is coming from. I also like saving up for a little something fun by keeping the change in a good old-fashioned piggy bank!"
7. Find a lower-cost grocery store like Aldi and buy all of your foodstuffs there.
"Aldi! I went from $180 every 10 days at Kroger to $75 every 10 days shopping at Aldi."
8. Set up a savings account at a different bank, and give yourself very limited access to it.
"Open an account at a different bank and ask that you DON'T get a card for it, or internet banking access. This way, you can only access your money if you physically walk into the bank and make a withdrawal. If you can't touch it, you can't spend it. It's a good tip if you're lazy or prone to social anxiety."
9. Do online grocery pick-up to resist making impulse purchases.
"It saves time AND money! It has really helped me cut back on impulse purchases, so even after paying the service fee at certain stores, I still come out ahead."
10. Stash away emergency money using envelope budgeting.
"I’m a horrible spender, even though my mom taught me when I was young about envelope budgeting. I don’t use envelopes anymore, but I hide all my money around my room now haha. For example, I put $20 a month in a container I keep my painting supplies in, coins and tip money in a jar, an emergency $10 or $20 hidden in my purse, rent money and savings locked in a tin, then I keep maybe $40 in my wallet until next payday (which is random for me and my job). I feel secure because I have money reserved and stashed away for when I need it!"
11. Think of your money in terms of the time you spent earning it.
"More of a money saving mindset, but I started viewing everything as time instead of money. I only make $12 an hour right now, so if I want to eat out and it costs $15, I have to ask if it's worth working more than an hour to eat out. For bigger purchases, it can be really staggering. Would I be willing to work six hours for a wallet? Ten hours for a dress? It helps me spend money on what's important to me and worth my time."
12. Discover the joy of leftovers.
"When I go out to eat, the portions are usually too big. I started eating only half of my meals and getting the rest boxed up! Now, I have two meals for the price of one instead of overeating/picking out my favorite parts once I'm full."
13. Use Excel to make an organized spreadsheet of everything you earn and spend.
"I started to use Excel to look at my budget. It looks scary at first, but it's actually fairly easy to use. I mostly look at what my monthly income looks like, and how much all my bills cost so that I can calculate how much I can splurge on me/save up. Once I do that, I decided to write down all the things I was buying so that I could track what I could cut down (e.g., take out). This really helped me feel like I was taking control of my finances again, despite being a broke master's student!"
14. Try a money-saving app like Goodbudget.
"I use a budget app called Goodbudget, and it helps me organize to be able to save 40% of my monthly income."
15. And be open about your savings goals with friends.
"Talk about it, share your goals with people. If you tell people the why, they will support it. 'I'm broke' can be a little dismissive. Instead, 'I have $10 left in this week's budget and I'm going to need gas before the end of the week; instead of going out to eat/drinks/movies how about I come over to your place and bring the Crock Pot of left over soup I made?' Let them know what's going on; in most cases your friends will support you and save it out loud makes it more real."
—Trillian McCarty, Facebook
Responses have been lightly edited for length and clarity.
