Ways to Save Without Hurting Your Budget!
Ways to Save Without Hurting Your Budget
For many of us, the idea of saving money for life’s little perks is a foreign concept. Living
paycheck to paycheck, having kids, and explosive housing prices can make it feel almost
impossible to do much more than pay for necessities. But, we need periodic indulgences for our
mental health. Here are a few ways to save for your wants, such as a family vacation, without
sacrificing your needs.
Define what you’re saving for.
If you’re planning for a trip or a weekend getaway, do your research first. You must know what,
exactly, you’re saving for and the average cost can expect to pay for it. For example, if you want
to go on a cruise, you’ll average a bit more than $214 per person per day. You should know
what you can expect to spend even if you just want to set aside a day acting as a tourist in your
own hometown. Once you know how much you’ll need, you can then set a goal.
You can find a deal on pretty much anything that you’re planning to spend money on. Need
photography or other services? Check GoalFundz first to see local partners that may be offering
a discount. Similarly, you can sign up for coupons for your grocery store of choice or buy a
coupon book from the local elementary school PTO (these are often available as a fundraiser).
Look for cheaper options.
You don’t have to go on a cruise or to an all-inclusive resort to enjoy a family vacation. Consider
less expensive options, such as camping. Campendium notes that many public lands in the US
and Canada even allow you to camp for free, although you may need to register for a permit.
You will have very few expenses after you’ve purchased your initial equipment, which might
include a tent, portable grill, or inflatable mattress. To save even more, look for a double
sleeping bag that converts to singles.
Dine in more often.
You might be surprised to find out that your lunch each day is marked up about 325% from cost.
Learn how to cook and meal prep, and you may be able to save $3000 in a year on dining out
costs. In addition to saving money, eating at home is healthier and tastier.
Pay yourself first.
The idea of paying yourself first means setting aside money for the things you need, a topic that
Wells Fargo bank has discussed before. But, in addition to saving for big things, such as
retirement, you can also put money aside for travel and entertainment. Just $25 per month will
give you an extra $300 to put toward an outing of your choice.
Give kids a budget.
There are some things that we have to provide as parents. Food and shelter are among these.
But, we often get guilted into buying our children name-brand shoes and clothing and paying for
outings that we can’t afford. Instead of just saying yes to everything, give your kids a budget.
$20 per week, for example, that they can put toward whatever they want outside of the scope of
necessity. They can spend or save at their discretion, but let them know that they do not get
additional funds once theirs have been exhausted.
Even when you work a full-time job, saving money is not always easy. But, when you want to do
things for yourself, like take a quick vacation, you have to find ways to save. The above are just
a few simple strategies that will keep money in your pocket that you can spend on the things
that are most important to you.
Today’s GoalFundz blog is just one of many great free resources we offer to help you keep
more money in your pocket.
Written by our guest blog writer Virginia Cooper from Learn a Living
Photo by pixabay