Saving money can be challenging for many people. After all, we live in a time where instant gratification is the norm, and it’s all about keeping up with our neighbours. Unfortunately, the chances of many millennials owning the own home continue to decrease, and a large percentage of this generation will be renting for life.
Many studies have also shown that most people are living pay check to pay check. If you lost your job tomorrow, how many months would you be able to live on your savings for?
One of the biggest reasons to save is simply to put money away in the event of an emergency. But I get it- saving is hard when there are so many advertisements in your face all day, screaming out for you to buy certain things.
Recently, I’ve been trying to tackle my own saving goals, and I’ve found it challenging as well. But there are some excellent ways you can save money without feeling deprived, so I wanted to share a few of them with you guys today.
One of my most recent finds has been Groupon Coupons. While Groupon has been allowing many of us to save via their website for years, they’ve now partnered up with hundreds of different stores, giving you excellent coupons to save money.
I don’t know about you, but I’m the type to buy a pair of shoes I haven’t budgeted for, and then say I’m “saving money” if they’re discounted. The reason these coupons are so great is because you can use them for things you would be buying anyway, including basics like food, school supplies, clothes, business expenses, sports equipment, travel, gym memberships, and more.
These merchants and stores include Forever 21, Kate Spade, GoDaddy, 24 Hour Fitness, Walmart, Sears, Priceline, Nike, Expedia, Kohls, and much more.
Another way I’ve been saving recently is by paying all of my bills on one day, figuring out how much I can “live on” for entertainment, eating out, and shopping for the month, and then transferring anything remaining to my savings. I used to do what many people do, and I would spend freely throughout the month, assuming I would put anything leftover into my savings. Unfortunately, there would very rarely be anything left over to transfer.
I’ve also been looking at small ways that I can cut down my expenses. While I like to work in Starbucks for a few hours each day, those lattes and muffins sure add up. Instead, I bought a french press, a new desk, and a chair, and I’ve set up my own home office. I’m going to get a laptop stand soon to help with my posture, and I’m really enjoying working at home and saving money each day.
Remember: Saving money doesn’t need to be an uphill battle. Look for places where you can quit spending money without feeling like you’re missing out on something. Good luck!