RE: BuzzFeed APPLICATION
5 Easy Ways To Save Money
5 Easy Ways To Save Money
1. If you prefer cash over plastic, this should work for you. Whenever you come across a 5 Dollar bill in your wallet or pocket, SAVE IT! Start collecting them. Try it for 2 months and see how much you can save; and don't cheat or ask for singles instead. A customer of mine tried this saving method, and in just 3 months she saved $500 in 5 dollar bills. So If you do the math, she could have potentially saved $2,000 in one year!
2. The luxury of direct deposit, is that you can send your paycheck to 2 different places (well, with most employers.) Have a set amount of your paycheck go to your savings and the balance to your checking. I call it Blind saving! Now let's talk numbers. Every year there are about 26 biweekly pay periods. So if you start small with just $50 per paycheck, you’re looking at $1,300 in one year. If you’re the “go big or go home” type and save $300 a paycheck, you can save $7,800 in a year! You do a nice island trip or buy your 1st car!
3. Maybe your problem is spending instead of saving. If that’s the case set a daily budget for yourself. Now let’s take it a step further; leave our debit card at home. Its easier to spend when you have direct access to your bank account. Think about each day and set a limit. Lets say its $20 a day. Take out $20 in cash and spend only if needed. Here is an example: On Tuesday i took out $20 but only spent 11. Thursday I took out $9 to make a full 20, and ended up not spending any. So Friday, I didn’t have to take out any cash. With this method you may be a regular at the bank. But hey, at least you’re laughing straight to the bank with this HA HA HA HA HA ( in my best 50 Cent Voice).
4. The simplest way to say money is to save a dollar a day for the rest of your life. That's easy right? If you start now you can save $5,475 in just 15 years!
5. I could say the next to save money, is not to spend it at all. BUT, we all know that may be the hardest thing we could ever do. SO how about this cash users; save your pocket change every day. Instead of giving exact change, pay over the amount and at the close of the day save your coins in a jar. See how much coins you can save in one year. It may be a pain to roll up and deposit, but at least it’s worth it!
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