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16 Ways to Save in 2016


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Know What You’re Saving For – Each dollar you don’t spend should go towards a certain savings goal, because after all if you don’t know what you’re saving for, it initially has no purpose. I always say if you know you want to save but aren’t sure what to save for, put it towards an emergency fund.

Create a Monthly Budget – Budget plans allow you to understand where every dollar you earn and spend is going. By looking at your income first-hand you can recognize where it is possible to cut back on unnecessary expenses.

Record Expenses – Keeping track of expenses makes it easier to stick to your goals. Having a continuous list of expenses can help to identify problem areas. Use the check register below to track and keep up with deposits and withdrawals of your checking account.

Avoid Impulse Buys – It’s easy to buy things on a whim, but they can become regrettable later on. Buying what you need always comes first.

Pay In Cash – Sure, swiping a card at the register seems so much faster than fumbling with wallets and coins, but its convenience encourages mass overspending. With cash, its less convenient options give spenders more time to reconsider their purchases.

Comparison Shopping – This can be comparing two stores for one item or comparing two items for their value. All of this can take a great deal of time and effort, but it is all worth it in the end. I choose to comparison shop for more big ticket items: electronics, video games, shoes, etc.

Understand Warranties In all honesty, this is something I dread doing. Attempting to read a store’s warranty policy can be absolutely tedious, but if you are willing to do it you can score some great deals. For example, Jansport Backpacks have a lifetime warranty. Simply return the backpack with a completed repair form and BAM! New backpack!!

Be the Best Detective – Like a ninja in the night ready to save money for life, dig up some serious dirt on company websites. It is rare, but possible to find some little hidden gems if you search hard enough. Recently I found out that © Zumiez will send you a ton of stickers for free if you mail them a self-addressed envelope. How cool?!

Reward Cards – Signing up for free reward cards at stores you frequently shop at can save you lots in the long run. These cards can allow you to accumulate points for every purchase that go towards free items, or simply offer items at lower prices for being a member. *whispers* I currently have nine different reward cards. No shame.

Coupons. Coupons? Coupons! – Okay, I’m not here to turn you into an extreme couponer (although Extreme Couponing is an awesome show and you should totally watch it), but I am here to say TAKE ADVANTAGE OF THEM. I seriously feel like there is a coupon for almost everything on the market in store. With websites such as RetailMeNot and Groupon providing coupons (both online and in-store), there’s no excuse to not at least do a quick coupon search for anything you plan on buying.

Military Discounts – Of course this is not an option for everyone, but to those who do have the privilege of owning a military I.D there is certainly no problem with asking retailers if they offer a military discount.

Second-Hand Stores – Shopping at second-hand retailers is a great way to save money on clothes and accessories both when you are buying them and if the store has an option of selling clothes to them.  These stores include: Goodwill, Plato’s Closet, Uptown Cheapskate, etc.

Loose Change is Your Friend – Many people despise dealing with loose change because it’s tedious and is simply a hassle to keep up with. I, on the other hand, love saving my loose change. Any time I get a couple of extra quarters and dimes I put them in my coin jar. It is amazing how much can add up in a good time frame. I usually wait about 6 months to see how much I’ve accumulated and then consider if I want to cash it in or not.

The $5 Method – This is a saving habit I use every now and then when I have a specific purchase (i.e. my yearbook or before the holidays roll in) to make or I’m just up for a savings challenge. Whenever I get a $5 bill I save it and put it away in a box. That’s it. Simple and easy as pie. There are many variations of this method that you could use to suit your situation. For example, instead of $5 bills save $1 bills, or save every bill that is older than you are (:

The Envelope Method – Get about 5 envelopes and label each one with something you want to save for (emergencies, entertainment, phone bill, gas, car payment, etc.). Then, configure a fixed percent of your income that you want to put towards each envelope. So if you get a $400 paycheck each month and want 5% to go to envelopes, deposit $20 in each envelope. After, you can only spend what’s in a specific envelope for what it’s labeled as.

Congratulate Yourself Saving can be difficult for some more than others, and it is easy to become easily discouraged. It is very important that you are happy with what you were able to save instead of dwelling on what you couldn’t. Even if you were only able to save 90 cents, that is still great, because it’s better off in your pocket than someone else’s.

 

Bre  ✌

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9 Comments

9 Responses to “16 Ways to Save in 2016”

  1. Leslie on February 8th, 2016 9:24 am

    YASSSS!!! ???????

    [Reply]

    Breniah Harris Reply:

    Thanks for your comment, tell your friends!!

    [Reply]

  2. Bryce on February 9th, 2016 11:28 am

    This was actually kind of helpful.

    [Reply]

    Breniah Harris Reply:

    Thank you very much! If you have any ideas on how I could be more helpful, do tell.

    [Reply]

  3. kali on February 9th, 2016 11:56 am

    this is better than half the stuff you can find on piterest. if i could give more than two thumbs up, i would.

    [Reply]

    Breniah Harris Reply:

    Thanks!!

    [Reply]

  4. keni on February 10th, 2016 2:10 pm

    awesome tips!! thanks !

    [Reply]

  5. Elizabeth Murdock on February 10th, 2016 2:12 pm

    This was absolutely AWESOME! I never save my loose change. I usually give it to friends because of all the hassle. I clearly need to think twice.

    [Reply]

    Breniah Harris Reply:

    Thanks, I’m glad I could help!

    [Reply]

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16 Ways to Save in 2016