Top Ten Ways to Spend Money WISELY or SAVE MONEY! 2

Top Ten Ways I Spend Money Wisely & Save!

I am not a spender. I HATE spending money, really.

I budget to the point to where I know where every penny goes. No joke.

It drives my husband crazy. If he has money it burns a hole in his pocket. We’re opposite, completely.

There are 10 things that I do on a regular basis that either saves money or allows me to spend money wisely.

1. I budget. As I said, I know where every penny is. I have created a spreadsheet in Excel where I keep up with any bills. I created a header and it has the Bill, When it’s due, and how much it is. I then separate it out by month so I can track which months we spend the most on that particular item, such as water or power.  Click Budgeting Template to download a copy. I also only limit a certain number of days & money to go out to eat. A lot of money is spent on eating out, more than I’d like to admit! Before you can save money, you’ve got to know where it’s going.

1. Sale Search. I frequently search deals on local yardsale sites, eBay, Groopdealz, or Amazon. I hardly ever purchase anything at full price. One time I posted on Facebook for some plastic bins, you know the ones you buy at Walmart for $5, and I got them for free. It pays to ask.

1. Couponing. Let me just say I am not an extreme couponer. Not. even. close. I envy those girls who know how to do it and save tons of money. One thing I do,  before I purchase something, is I do try to find manufacturers coupons online. This doesn’t take a lot of time & it helps save.

1. Save aluminum cans. I purchase my sons birthday cake every year with aluminum cans. I get our cans, my grandparents cans, and sometimes my grandmother-in-laws cans and we take them off twice a year. Each time we get about $60 dollars or more. Check the prices aluminum cans are bringing first before you take them. It may be worth it to wait a few days or weeks for prices to go back up!

1. When I get paid every week I do two things to spend money wisely. I put back money for tithing at church, and I put back a certain amount to go into savings. I have the money automatically drafted out of my account for my savings so I don’t even touch it. I put back $50 a month to save and $60 a month for tithing. That’s just $35 a week. In a years time you can have $600 saved in your account!

1. Retirement Fund. I am able to participate in an IRA account at my work. I put in $20 a week and my employer puts in a percentage of what I make. If you are eligible for these benefits, it is highly recommended you utilize them. If not, start up your own account to deposit money in, and DO NOT TOUCH. You will not believe how quickly it adds up!

1. Life Insurance. This is a big spend money wisely tip. Get life insurance while you’re young. You will save money when you get older. I took out a policy for my son when he was first born. It’s quite a large policy, but the rate is locked in and it will never increase. Even when he takes over paying for it at 18. The younger you apply for it, the cheaper it will be.

1. No Credit Cards. Oh, credit cards. They have ruined so many peoples credit and seriously put people into debt.  I advise against them for the most part. I do; however, participate in a couple of them, ONLY for the promotional values. Belk. I love Belk. I shop at Belk more than I shop anywhere. You get $10 Belk Rewards for every certain amount you spend. I will put  my purchase on my card, then immediately pay it off at the register. I get the points and I don’t have to worry. Same thing with any other cards I use. I will use it to get the promotional benefits, but not let any interest accrue on the account. I hate paying interest. It’s wasted money.

1. No or Little Interest. I’m talking about interest on big purchases like a house or car. If you can, before you get locked into a payment, save. Make a budget. Say you want to purchase a car for around $350 a month. Save $350 for a while and let it add up. The larger down payment you have, the LESS you will pay on that vehicle. Also shop around. Make sure you are very competitive. Let them sit on it. If they give you a good offer say “Oh, we’re going to have to talk about this” and let it simmer for a couple days. They’ll more than likely drop lower. Remember, they’re paid on commission.

1. Save your change. I know you think I am crazy. We save our change and put it in a jar. On our sons birthday we let him take it to the bank and let him deposit the money in his bank account. You wouldn’t believe what the change adds up to. He just made a deposit for $280 for this year.

These are just a few tips that have helped our financial life. I go more extreme and save every little bit we get. My husband just had a motorcycle accident and I will say that my saving has certainly helped.

I hope there was something in this post that will inspire you to spend money wisely and help you budget more efficiently. If there was, please comment and let me know!

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