Credit cards are convenient, but they’re also costly. There’s a way to make your own credit card using an app and the loyalty points you accumulate from various stores or online shopping portals. You can save on interest fees too!
The “clever ways to save money” is a list of 6 creative ways to save money.
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During the summer of my junior year in high school, I did an internship. I was ecstatic to be working in an office where I could ride the Metra rail to work every day and earn $13 per hour. Every paycheck was a big deal, and I recall purchasing a lot of foolish items. By the end of the summer, I had discovered that I had not saved a single penny from that internship.
Like most people, I’ve always found it more satisfying to spend money than to save it. In general, I’m sure we all know how to save money. Even yet, it might seem to be a huge load or duty with a high failure rate.
Over time, I’ve figured out how to make saving money enjoyable, and I now look forward to it as much as I do spending money. You boost your chances of financial success by making saving enjoyable rather than a work. Here are a few unique methods to save money while still having fun.
Concentrate on a Pleasurable Objective
Nobody said you should just save money for an emergency fund or for retirement. You may start small and save for items that are essential to you, such as a new television or a trip, to build a healthy savings habit.
Consider how wonderful it will feel to be resting on a beach or dining at a fine restaurant while on vacation. Consider how satisfying it will be to finally get that yard tool you’ve been saving for. Focusing on your savings goal is enjoyable since you’ll be able to see how close you’re coming to your target as you put more money down.
It transforms your perspective from one of fear to one of excitement at the prospect of giving up money or being deprived. Instead, consider saving money as a means of compensating yourself for a future goal that benefits your or someone else’s life.
Related: 10 Ways to Save $1,000 on a Vacation
Invest in a Savings Tracker.
Savings trackers are a great way to view and keep track of your savings behavior. When you can’t see the money in your bank account, saving money might feel tedious or inefficient.
With printable savings trackers, you can keep track of your savings and other financial objectives. These are free sheets that you may download and alter as you see fit. As your savings amount rises, I generally color mine and shade in additional space. I’ve also utilized a bunch of quite similar debt payback trackers. These sheets will keep you motivated as you work to pay off your debt.
How to Save Your First $1,000 This Year (Related)
Make it a challenge or a game.
Making it a game of difficulty is one of the most inventive methods to save money. If you’re competitive, the concept of winning – even if it’s a battle against oneself – will appeal to you. Consider embarking on a savings challenge with your family and friends or by yourself. Once you’ve reached your goal, you may set a ‘reward’ and calculate how long it will take you to save.
The 52-week challenge is the most popular money-saving challenge. It lasts a full year and encourages you to set aside a particular amount of money each week in order to save more than $1,000 by the end of the year. You may also set a goal for yourself to save every $5 bill you come across (when getting change for your purchases) as well as any extra change lying around the home.
Acorns.com is an app that automatically saves your spare change. Last year, I utilized this app and saved $1,000 just by rounding up extra change from my debit card transactions.
Related: The Top 5 Money Challenges to Help You Improve Your Financial Situation
Christmas Debt-Free Challenge
Make plans for a no-spend weekend.
Weekends with no spending are a great way to reset your budget by cutting off any needless expenditure for a few days. Weekends are often when we spend the most money on different activities, dinners, and so on. One of the most innovative ways to save money is to challenge yourself to a no-spend weekend, which enables you to utilize what you already have and make your own fun.
Hiking a walk, reading a good book, or having a board game night with your family are all possibilities. You may also make meals out of goods already in your pantry and go exploring at free events or locations in your region. It doesn’t have to be dull to enjoy a no-spend weekend. It may be just as enjoyable as any other weekend, and you’ll save money as well.
No Spend Week: The Best Way to Save Money, But Can You Do It? Related: No Spend Week: The Best Way to Save Money, But Can You Do It?
70 Ways to Save Money While Living on a Fixed Income
Invest in a Side Hustle to Increase Your Savings
If you undertake something you’re passionate about and have clear boundaries, side hustles may be a lot of fun. For instance, if you like photography, you may work as a portrait photographer on the side and establish your own hours. Use that time to generate additional money that may be moved straight to savings if you just have 5 to 7 hours extra to spend to photography.
Consider side hustles that enable you to accomplish something that you like, such as music instruction, cupcake making, writing, or selling your creations on Etsy. To prevent overworking and burnout, have a clear routine. Consider that even if you just make $500 per month, you may save $6,000 per year by doing something you like.
Check out the links below for lucrative ideas if you’re thinking about beginning a side hustle or ramping up your current additional income sources.
Related: How to Become a Freelance Writer: Side Hustles Examined
You Can Begin With These 15 Side Income Ideas (With No Special Skills)
How to Become a Virtual Assistant: A Guide to Side Hustles
When You Reach a Milestone, Reward Yourself
When you reward yourself for good financial management, it seems to be more enjoyable. Make a conscious effort to track your progress and break down your objectives. For example, if you wish to save $20,000 for an emergency fund, you may do it in $5,000 increments.
You may treat yourself to a massage or a supper at a great restaurant after you’ve completed the goal. There’s no reason why you shouldn’t be able to enjoy your money while still saving.
Summary: Money-Saving Ideas That Work
Saving money doesn’t have to be tedious, and it shouldn’t be. If you want to make saving money enjoyable, you’ll need to shift your thinking to see the worth and rewards of doing so. Then, by creating challenges, making it visual, or even monetizing a pastime, make it work for you.
The most thrilling part will be realizing how much money you were able to save while being stress-free and unburdened.
What are some of your favorite ways to have fun while saving money?
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The “creative ways to save money in 2020” is a blog post that discusses 6 creative ways to save money.
Frequently Asked Questions
What are 10 ways to save money?
A: Make your own laundry detergent, use cloth diapers for your baby, make a compost bin in the backyard if you have one and plant veggies to eat from it.
What are creative ways to save money?
A: You can save money by buying generic brands, or even by slowly replacing your favorite brand-name products with cheaper alternatives. For example, you could replace a pair of high-end sneakers every few months instead of each year to limit the cost.
What are the 8 ways to save money easy?
A: The 8 ways to save money are as follows.
1) Buy generic brand products
2) Cut back on your spending and enjoy life more
3) Stop buying coffee everyday for a month, youll be surprised how much money this saves you! 4) Be creative with what items can be re-purposed into things that make noise or light up when shaken like a disco ball, ceiling fan blades etc.
5) Find additional sources of income such as Uber driving if you dont want to spend too much time at work during the day. You might find $40 in your pocket every other week while saving hours of commuting time each weekday/weekend (depending on where you live). If not take some online courses from Udemy, Coursera etc., just remember they will require an investment upfront but it will pay off in the long run when it comes to being able to afford everything else since now all those free credits have been used up by them for education rather than frivolous purchases. And lastly…6)…Shop around for better deals before shopping at stores so that ultimately prices go down AND quality goes up! Do research first then head out there ready with wadges of cash attached to both hands asking retailers How Much?
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