You want to know what my most popular post is? It’s this one… How To Be Rich In Your Twenties.
And it’s funny because it seems that everyone is always looking for some kind of secret on how to do that.
But it’s not a huge secret, it’s common sense. You either make a heck of a lot of money, or you save as much as you possibly can.
That’s it. It’s simple. In theory, at least.
I know that I don’t make a ton of money. I’m 26 years old and just took a $10k paycut to follow my dreams, so I know I’m not going to get rich simply by going to work every day.
But if there’s one thing I’m good at, it’s saving money.
And in the long run, it’s going to pay off big time.
So here are a few things I recommend…
Have A Secret STASH
I hardly ever carry cash around. I probably should a lot more often, but I don’t. So on the rare occasion that I take out some cash from the bank and have $5 laying around in my purse, as soon as I get home, I put that cash away in a little hiding spot that I have. $5 might not seem like a ton of money, but $5 here and $10 there really adds up. And that’s money I never touch. Only like on legit emergencies do I even think of touching that money, so it’s been nice to watch that pile grow.
Set Clear Goals
I’ve found that if I leave my savings up to chance, I save a lot less money than when I actually have a plan. If you go to Pinterest and type in “Saving Money” there are SO MANY savings plans that you can choose from. I recently found this one, a 1 year savings plan to save $2,000 and I’m going to focus on meeting those savings goals. When it’s in your face and well thought-out, not only are you more likely to save the money, but it also becomes kind of fun, watching yourself meet your targets.
Automate As Much As Possible
As good as I am about saving money, I’ve found that it’s easiest when it’s automated. That’s why I’m a huge fan of Chime, a new banking system and app I recently tried out, one that Apple’s featured as one of the best Money Management apps out there today.
Now the part that I liked the most about Chime is that you can enroll in Automatic Savings. Pretty much, every time you use your Chime card to pay a bill or make a purchase, Chime rounds up the transaction amount to the nearest dollar, and transfers that extra amount from your spending account to your savings account. Guys, it’s like money you don’t even miss. So instead of keeping those extra cents in your spending account, Chime saves it for you, and before you even realize it’s happening, you’re saving money.
To make things even better, every Friday they pay you an extra 10% bonus on your round ups from the week! Wooohooo free monaaay! So if you use your Chime card twice a day, on average, you’ll save about $400 a year without even thinking about it. Without DOING anything.
I can totally dig that.
This is what it looked like when I started using Chime’s automatic savings…
FOCUS ON THE REWARD
Now, the fun part! It helps me so much when I know exactly what I’m saving the money for. If I’m saving to pay off credit card debt, sure, it’s not the sexiest thing to save for, but I focus on how happy Joe and I are going to be when we’re done paying those damn cards off. We also save money for vacations, and that’s something I really enjoy. I’ll usually put pictures up of our destination and create a vision board of sorts so I’m constantly reminded of what I’m working towards. Let’s see…a $5 coffee in the morning, or $5 towards a bad-ass vacation to Hawaii? I think I’ll skip the latte.
Any other tips and tricks for saving money?! Let us know in the comments!
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