Let’s all be honest for a second…
I am a total shopaholic.
I spend money like nobody’s business. Take me to a mall, and I could probably spend the entire day there. Any sort of sale is my kryptonite. Who’s with me?
As fun as shopping can be, spending all my money on clothes, shoes, and food isn’t really practical (bummer, I know). Most of the money hacks I had been told growing up were never really applicable or helpful for me. Suggestions like opening a savings account–while a good idea–wasn’t really the best option for a broke college student like myself. But when I learned these three money-saving hacks, honestly guys, my life changed.
First, if you’re receiving a steady paycheck, save your $100s, spend your $10s.
This tip was SO helpful in helping me manage my paychecks. I would get paid and immediately cash it right into my checking account. Two days and a shopping trip later, it was gone!
Basically, what this tip means is if you get paid $384, take the $300 and put it away in a savings account or somewhere you know you won’t spend it. Then, use the remaining $84 to live off of until your next paycheck!
Obviously, this would be difficult to maintain for those with immediate bills to pay or other financial obligations, but for college students like me, it has really helped provide a limit for when I want to go out to eat or buy a new pair of shoes.
Second: only use cash when you go shopping.
Some of you may already be doing this, but when I go shopping I try to always use cash. When I bring a debit or credit card, it’s harder for me to picture how much money I’m actually using. With cash, I have given myself a specific amount I’m allowed to spend and I can see it disappear as I’m paying for things (and leaving with more and more bags!). I’d still recommend bringing a backup form of payment in case of any issues or emergencies, but generally, this should keep you from draining your bank account!
Finally, make yourself a personalized budget and schedule.
Anyone have bills pop up out of nowhere? I’ve definitely had this happen more times than I’d like to admit. Writing out your bills and when they’re due is a super efficient way of staying money-conscious. A personal budget makes it so easy to visualize the money that you owe and when you will need to pay it by. When you create your own budget, you can also see exactly how much leftover spending money you have either weekly, monthly, or daily–however you decide to organize!
And those are my three favorite money-saving hacks! I hope that they’re helpful for you and keep you money-conscious. If you use them, be sure to tag @yourstrulyyerin on Instagram or Twitter to let me know!