I got the idea to write this post from an article I read in the December issue of Money Magazine. The catch to this list was that many of the tips were actually encouraging you save money instead of make it, which takes me to my next point! 2018 is the year of “learning to love saving money”! Sounds strange, but the concept is a no-brainer! This year I made a conscious effort to start aggressively saving and when I say aggressively I mean just that. My biggest personal tip from my lessons learned are to save as much cash as possible (all 1s, 5s, and 10s) and if you absolutely have to “borrow” from your savings, pay your self back immediately! This year my goal is to “learn to love saving money” and I encourage you to reach for this goal too…

Here are some additional tips to make/save $1,000 by the end of 2018 to take a trip (yes you can go to an international destination with $1,000 trust me):

Tip 1: Boost your credit score-You may be tired of hearing how important credit is, but it’s true! Make an effort to pay all of your bills on time and keep your credit utilization under 10%. These small but powerful changes can be the difference in being a home owner vs renter for the rest of your life!

Tip 2: Skip the gym-Unless you have a home gym or a gym in your apartment complex, eliminating a gym membership could easily save you around $600 a year! Instead try using your body weight, resistance bands, and other exercise accessories that will give you the same results. Find a group of like minded friends and start a fitness club! Ever been to a group boot camp? These are much more fun than silently reaching muscle failure in the gym.

Tip 3: Get a roommate-This may seem like a no go, but if you’re single and don’t have any kids I would definitely suggest saving on rental expenses and getting a roommate. A savings of $300 a month could leave over $3,000 in your bank account at the end of the year! (Did you say Bali?)

Tip 4: Run errands-Here’s a way to actually make some money, and not just pennies either! Apps like Postmates, Instacart, and Task Rabbit pay up to $35 an hour to run errands and deliver good in your area. You do the math!

Tip 5: Use Groupon for wellness- If you’re a freelancer, small business owner, or anything in between, you know health care is not on the cheap side at all! Try Groupon for your routine check ups and exams. I’ve seen anything from a women’s annual exam to braces on Groupon!

Tip 6: Freelance- Have a specific skill? Sell it! Sites like Upwork and Fiver are great ways to sell your skills on your own terms.

Tip 7: Cut out meat (go Vegan!)- More and more we are exposed to the hard truth about the foods we consume. These days it’s either the meat is fake or processed in the most horrifying way. A plant based diet is not only beneficial health wise, but it saves you money contrary to popular belief. The average Vegan saves around $750 a year on groceries including the pricey items like olive oil! If you’re interested in learning more Nicole with Vegan Mom Lifestyle is a great starting place! She doesn’t force you into being a Vegan and has a great transition program!

Tip 8: Control your spending- This is by far the most important tip. If you have bad money management habits, all the money hacking and saving in the world will still leave you in the same place. Budget, Invest, Save, Repeat (all 2018)! To budget I like to use the Mint app, it is extremely detailed and uses a color coded system to show you where your money is going. It also gives you the option to set up allocated categories to stay on track, I seriously love this app! To save currently I’m doing it the old-fashioned way, but previously I used an app called Digit. Before I left the app I managed to save about $500 and left because they started to charge (just $2.99, but it was the principle). I’m strongly considering going back to using it because it was truly a good saving tool. Want to check it out with me? Sign up here! To invest I would suggest the Robinhood app, its great for beginners and you can pretty much put it on autopilot all while investing in brands you use all the time like Nike!

Tip 9: Maximize reward programs- When you start to travel and fall in love (of course you will), start to make your money make you money by using credit cards (Must follow step 1)! There are several cards like the Chase Sapphire Card that will help you rack up travel points in no time! The easiest way to do this is to use your credit cards for necessary expenses. Going grocery shopping? Charge that card! Need gas? Charge that card! But the catch is to absolutely pay that money back either immediately or at the end of the month.

Tip 10: Use all of your beauty products- Am I the only one that rushes to stock up on products when the bottle is near empty? Studies show that we are far less likely to finish using those products if we replace them before they’re empty, which in essence is a waste of both the product and your money. Makes a lot of sense!

 

“Small challenges lead to small wins, and it’s super empowering to see that you’ve actually saved some cash”

…Amen to that!

 

Sending good vibes,

 

Chelsea

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