How to Save Money: Creative Money Saving Tips and Strategies
For most of us, learning how to save money isn’t easy. Your friends want to go out to dinner and have expensive drinks, you want to live in the nicest place you can afford and if you have kids, they basically want everything. Every day and every place you go involves spending money. Even if you’re just driving to your friends house to just hang out there, you’re still using gas. You want some money saving tips because deep down you can’t stop the flood of spending and I completely understand. I’m a reformed spender myself and I’d like to show you the way to financial freedom.
There are four core principles on how to save money and build wealth. All of the principles are important and if you excel in one area you should focus your time trying to improve the others. You may learn how to save from some of the creative money saving articles linked on this page but you will only really start to build wealth when you practice and eventually master all four of the core money saving principles.
Grow your Existing Savings Faster
The first core principle in how to save money is focused around investing your existing savings. Investing is just how you describe the strategy of taking your money and making it grow on its own. Depending upon the amount of risk you are willing to accept, that defines how quickly your investments will be able to grow. For example, a savings account is near zero risk, however these days the growth is extremely tiny. Beyond savings accounts there are various degrees of risk you can accept for some very handsome gains. One of my favorite low risk/effort and high gain strategies is investing though Betterment which I’ve mentioned a few times before. Below are some targeted articles which will give you plenty of investment options so that you can choose the one that bet fits you.
The Betterment Experiment
You know you have to invest your money but getting started is a scary prospect. That's where The Betterment Experiment comes in.
Invest like an Expert Without Being One
Originally, to invest like an expert you needed advanced training and a ton of time. Now you just need to know the right tools and have 25 minutes to spare.
The No Effort Investment Strategy
You have savings but no time to put it to work. I understand. That's why you need a no effort investment strategy. Set it and forget it with no worries.
Be Productive and Earn More
If you have a full time job, you’re going to work 40 hours a week. Some people make $20,000 a year on 40 hours of work a week and some people make $100,000 in the same amount of time. There is no reason you shouldn’t be on the upper end of the pay spectrum. Some of the biggest reasons you are not getting paid as much as you deserve are very simple and easy to fix. In a span of three years I was able to grow my salary 74% without ever changing positions or leaving the company. In this series I’m going to share my approach towards being more productive and getting the money you deserve.
Inbox Zero Will Save Your Life
Inbox Zero follows the GTD philosophy as a great way to keep your inbox clean and under control. We discuss what it is and killer tools used to achieve it.
Get Organized Already
Finding success is not difficult and is absolutely within your reach. You just need to get organized already and break big goals into small manageable tasks
Reduce your Existing Spending
It’s not enough to just earn more money because if you spend what you make than you’re going to have a very difficult time saving money and building wealth. There are a ton of different approach towards spending, there are the caution to the wind people, the extremely frugal, the cheap and then there is me. I think that if you’re smart with your money and you budget, you can have many things you want along with everything that you truly need. These are some articles on unique ways to reduce your spending without it feeling like you’re getting much less.
Plug Your Spending Leaks
You waste money, yes I sad it. Instead of wasting your money, come learn how to find and plug your spending leaks. Money is a terrible thing to waste!
How I Save a Ton on Travel Expenses
Why should you overpay for your vacation? I save a ton on travel and there is no reason you can't too. It's easy and the tools are free, come learn more!
Always Save when you Eat Out
Here are a few tricks to help you save when you eat out so you can go out more often and feel less guilty. You could save up to 60% before you arrive!
Don’t be a Push Over
I don’t mean to be a Negative Nancy but everyone is trying to get one over on you and take your money. If a company owes you a refund they aren’t just going to give it to you, you’re going to have to ask for it and in many times demand it! If you’re working hard but feeling under appreciated you have no one to blame but yourself. Stop losing money for silly things like not speaking up and contesting a charge on your credit card bill. Get the raise you deserve through clever negotiation and determination. Don’t be a push over, take what’s yours because if you don’t, someone else will!
Can’t Pay Your Mortgage? Here Are Some Solutions.
You're in trouble and you can't pay your mortgage, you need solutions. Read more for detailed strategies you can follow to fix your debt and keep your house.
The Definitive Guide to Paying Off Credit Card Debt
We created a 5 step plan for quickly paying off credit card debt.
Fix your Mistakes
Yes, we all make them so get over it. I actually think it’s very healthy to make mistakes as long as you get the most out of them. The worst kind of mistakes are the ones that you don’t learn from and make again. Just like the saying goes, “Never Half-Ass Two Things, Whole Ass One Thing” ;)
You’re a Failure and It’s a Good Thing
Yes, you're a failure, get over it. The good news is failure is the key to success so instead of beating yourself up over it why don't you go and celebrate?
Materialism is Killing You
Buying things does not make you happier, so what do you continue to buy things and drown yourself in debt? Andrew attempts to answer this very question.
How to Save Money Resources
Finding all the money saving tips you can and eventually learning how to save money isn’t easy! It takes a lot of work and dedication. Just like with weight loss, success isn’t found in a day but is built over time though perseverance. When our parents were growing up things were much more difficult. Computers didn’t exist so learning how to save and actually doing it was quite a challenge. Now we’re lucky and we can learn about saving money for free and there are a ton of tools out there to help us on our money saving journey. I’ve included a few tools and sites that I found extremely helpful in building wealth. Be sure to check them out to see if they can help you save time and money too!
How to Be Lazy and Save Money With Amazon
You can always earn more money and improve the way you save. As a result, your potential for wealth is infinite. Unfortunately, your time is not infinite.
30 Day Challenge: Get Rid of Cable TV
I challenge you to get rid of cable for a month and stash the money you save in a high-interest online savings account or invest it!
How to Save Money and Automate It (Ep. 2)
On this episode we talk about one of the most popular topics in personal finance: How to save money!
For the full list of resources I use to manage my finances, click here.