How to Save $ and Avoid Temptation

Saving money is such an important thing to do, yet according to CNN Money, 22% of Americans have no savings at all. That is too much. A year ago, we had no savings, and we never thought we ever would, finances were so tight. And while we are still tight, we finally have a savings account that stays around 250 or so every week. Some weeks I can only add 5.00, but even that little amount can add up if you keep from dipping into it for miscellaneous junk.

Having money in our ’savings envelope’ helps me to sleep better at night, I no longer fear a flat tire, brakes, etc. We are prepared. My mom used to try to drive it into me to save money, I was just soooo bad at it, and I still am, but using Mvelopes
helps ‘trick me’ - see, I have ‘virtual envelopes’ for ever expense, and I made several savings envelopes, a general savings, a new car savings, new house, and car maintenance one, I put a little in every envelope, so when I glance at the budget, I really only look at the savings, and we might have 100 in there, but on closer look we have about 280 worth of ’savings’ but I only notice the main savings and that helps me not spend money, I want to see it grow!

If your like me, and fall prey to temptations like eating our after a long day, or that shiny new purse, of for me a set of comfy PJ’s, (working from home lets me have every day a casual day :-)) But here are some tips that help me when I am temped.

1. If you have a soft spot for a certain item, stay away from the store that sells it, or at least avoid the section.

2. When going to grocery stores, always bring the exact amount and bring with you a grocery list. If you have limited money in your pocket when in grocery stores, you will be forced to buy only those important things that you need. Preparing a grocery list will also help you get organized and will help you in deciding the things that need to be prioritized.

3. Go to the malls only when needed. Do not go shopping if you do not need anything important to buy. Window-shopping will only tempt you to buy the dress you saw in the boutique even if you don’t really need it.

4. Do not bring your credit cards all the time. Having a credit card in your pocket will only tempt you to buy things that are not necessary. This will also help you lower your balances and have a good credit score. (double positive!)

5. You may want to save money in the bank or invest in time deposits. You will not be tempted to get money from the bank every time you need cash, if they are placed in a time deposit account.

6. You may also want to consider consulting a financial advisor. There are a lot of programs that offer these services for free. They may be able to help you and give you advice on how you can avoid temptations and save more money. Our bank provides this free of charge.

Popularity: 4% [?]

These icons link to social bookmarking sites where readers can share and discover new web pages.