• Mya K

10 Ways I Saved $4500 in 6 Months

Next week is America Saves Week so I can’t think of a better time than now to share with you some of the adjustments I’ve made to my lifestyle and as a result, been able to save more money!

There are tons of ways you can save money, but I’ll share with you 10 things I’ve personally done that has resulted in $4500 in six months.

1. Set a goal- After some self-reflection, I made a goal that I will not have any credit card debt when I turn 40. This was the creation of the 2020 No Credit Card Debt Challenge #2020NoCCDebt (shameless plug).

2. Eliminate stress- Stress was doing harm not just to my health but also to my finances. It caused me to be unhappy and impulsive which resulted in some poor financial choices.

3. Create a spending plan- This has really helped me know my exact cashflow situation and have a visual of where I can cut back and save money.

4. Stop carrying credit cards- I removed all credit cards from my wallet and only have debit cards. My credit cards are put away and frozen if that feature is available by the card provider. This has cut out the impulse shopping and really makes me think about how much I’m spending and if the purchase is a true need or want.

5. Take a sack lunch to work-It might be a sandwich or the leftovers from the night before. This alone saves me from $100-$140 per month since the average value meal is between $5-$7. Even if you are eating from the dollar menu that is still money that could contribute to a greater goal.

6. Cancel cable- I’m never home to watch television and my children seem to watch shows that stream on certain apps, so we’re able to stay entertained without cable.

7. Eat out less -Eating out used to happen 3-4 times per week with all the after school activities we had going. Now, I’ve been able to only have extra-curricular activities one night per week and that’s the only night we need to eat out due to lack of time. However, another option is to crockpot your meal those evenings you are short on time or grab a snack to hold over until later.

8. Set up automatic transfers-This out of sight out of mind plan has been working great and I’ve met saving goals without the stress of 2nd guessing what to do with the money when payday comes. Besides, that spending plan I created shows me exactly where I have room to stretch myself.

9. Save coins- I love that my bank and credit union both have coin counters that don’t cost me anything to run and then deposit into my account. Some coin counters charge you a percentage. I’m always surprised at how much those coins add up to. Check your financial institution to see if they offer this for you.

10. Use the library-I know that I should help raise money for my children’s class and purchase books for my children. Instead, I let them pick their Wishlist and we take a family trip to the library. It’s also a great way to bond. Plus, I always find a new read for myself!

This is a very practical list so I hope if you have not already, try at least one and see the difference it can make for you. Share with me ways you’ve saved money.

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