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5 Creative Ways to Save Money Today

Saving money is something so many people struggle with, even the high earners! For a lot of us, no matter how much money you have coming in, it always seems like more is going out.

Yet savings are something we all need if we want to be financially stable.

Whether you’re hoping to save up for something specific, like a deposit on a new home, or a luxury holiday, or you just fancy a bit of extra cash in the bank, saving doesn’t have to be difficult.  You may just need to get a little creative!

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Here are 5 creative ways to save money quickly and easily.

1. Automatically set aside a portion of your paycheck

This is one of the smartest hacks or creative ways to save money, and it’s the hack that will help you save money the fastest.

When your paycheck comes through, before even thinking about what to spend it on (we’re all guilty of doing that) set aside a chunk of it in a separate savings account.

Decide how much that portion will be before your paycheck comes through, and stick to it. For example, decide to set aside 10% of your paycheck each month.

This will help you budget, as you can place that money in a separate bank account and not allow yourself access to it. Your savings will also build up pretty quickly if you do this, and even quicker if you decide to set aside a larger percentage.

If you don’t think you’ll have the willpower to wave goodbye to that spending money each month, set up a direct debit scheme to transfer a set amount from your everyday bank account to your savings account on your payday. Or, even better, set up a direct deposit through your employer to have a portion of your paycheck automatically route to your savings account.

That way, the money will be set aside as your pay comes in, and when you check your bank account on payday, you’ll see exactly how much you’ve got to play with for the month. If you don’t see that extra money, you can’t miss it, right?



2. Have a budget in place

If you’re saving for something specific, creating a budget is the best way to go. You can work out exactly how much you need to save each day in order to reach your goal.

Set a daily, weekly and monthly budget, that is lower than your usual expenditures, and you’ll become more aware of how much you’re spending, and less inclined to purchase everything that catches your eye.

Check each day that you’ve met your budget, and if you’re under budget, you can put any spare money from the day into a separate savings account.

By having a budget, you won’t waste so much money on purchases that you don’t need, and instead, you’ll look forward to spending your hard earned money on things that are important to you.

3. Think about purchases in terms of how many hours of work they cost

Most people value time over money, as time is something you’re never going to get back. So when you’re tempted to buy something, rather than thinking about it in terms of how many dollars it costs, think instead about how many hours of work would pay for it.

For example, if you go to buy take out, when you could just as well cook something at home, think about whether you would work more hours in exchange for nothing more than a take out meal. Because realistically, if you spend your entire paycheck on indulging in things like take out, then that’s all you’re getting for your hard work.

Think about the reason you go to work; the reason you work your butt off just to get that one paycheck every month. I bet it’s not for fast food. Your paycheck is in exchange for your time, and while you’ll get another paycheck next month, you’ll never get back the time spent in the office. So why not spend it on something more meaningful and important to you?

4. Make saving money competitive!

If you like a bit of competition, make saving money a game. Introduce yourself to the 52-week money saving challenge, and work towards a lump sum of yearly savings.

People all over the world take on this challenge, and document their savings as they go, so you could easily connect with those who are also challenging themselves, and start a bit of a friendly competition.

Or you could persuade your close friends and family to undertake the challenge as well. Most people would like to save more, so it’s likely that plenty of people would be up for it.

With the 52-week challenge, you’ll be able to track your progress and see your savings building up. You can let your competitive side run wild as you try to save more than your friends.

You’ll be surprised at the amount you’ll be able to save over the course of the year, and by the 52nd week, you’ll be so proud of yourself.



5. If you’re a shopaholic, head to the thrift stores

Shopaholics often struggle with saving money, because usually it means steering clear of the mall for a while. But this doesn’t have to be the case.

There are plenty of shops where, if you want to, you can continue to carry out your shopping fantasies while still saving money along the way.

Thrift shops are a great place to start. You can find the perfect outfit for a tenth of the price of designer stores. Plus, you can feel good about giving to charity in the process of shopping.

Looking online rather than shopping in person can also be a great way to save money while shopping, as you’ll be able to look over your basket for as long as you want before deciding to buy. This means you won’t be rushed into buying anything you don’t need, and you can have a good search for bargains and cheaper alternatives.

Summary

Saving doesn’t have to be difficult, with a few tweaks to your lifestyle choices and methods of thinking, you can make sure you don’t spend any more money than necessary.

You can also make saving enjoyable, especially if you get others to join in. It will be a lot easier to save money if the people around you are doing the same, rather than going on spending sprees each day.

The more effort you put into saving, the more you’re likely to save money, and while it might mean scrimping for a while, it will be worth it in the end, when the number in your bank account is bigger than ever.

To find out how to make all of your newfound savings work for you, with relatively low risk, Click Here!

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About The Author

gmakhack

gmakhack has a passion for helping others find smart ways or hacks to improve their lives. Whether the hack relates to your home or health, or more specifically, your diet, fitness or money, gmakhack is always in search of the Best Home Remedy Hacks!

1 Comment

  1. Michael

    I love numbers 1 & 3! I live by these steps and they have helped me so much on my financial journey. I noticed that I was paying everyone else but myself, how crazy is that? but most people do just this. So I decided I need to take control and pay myself first and it is such a great feeling!

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