One of my big goals for 2017 is to save money. I’ll be totally honest, it isn’t super cheap to live inside the city of Atlanta. I also work in non-profit and basically make pennies… I love my job, but non-profit means just that. I kind of live paycheck to paycheck, which is really horrible if I had an emergency. Not to mention eventually, we want to move out of our rented apartment. It’s really past time for me to start a savings plan.
In 2016, I really wanted to come up with a plan to save money, but then I got married instead. Weddings are the opposite of saving money. While I didn’t pay for much (thanks mom and dad!), I did shop for monogrammed cocktail napkins, customized crystal shoes, and watercolor paintings. You know…the necessities.
2017 is my year, though. I’ve partnered with Earnest to come up with a few money saving ideas for the New Year. Here are a few ideas if you’re ready to start saving too!
- Think about big purchases. I’m an impulse shopper, so I need to take time before making a purchase. I’ve started doing this a little bit, but I need to kick it up a notch. I try to give myself a month or so, Β and if I think about the item all the time and realize I can’t live without it, then I purchase it. If I lose interest or forget, no harm done!
- Try to make outfits out of the pieces you already own. I typically come up with a head-to-toe outfit and wear it as is, rather than vary up my accessories and pieces. I’m really going to use my staple pieces and change them up with different accessories. You can do a lot with a vest and a statement necklace, and we all know I love a good vest.
- Cancel your gym membership and work out at home. I actually did this last year. There are so many incredible workouts on YouTube, that can get you toned and fit without breaking the bank. Plus, there is a great variety of workout videos so you never get bored. I lost 30 pounds last year, and a lot of this was due to YouTube Videos.
- Start Christmas shopping early. Whoa, my bank account took a hit in December. I’m going to start shopping early in the year so I can spread out my spending rather than jumping on a grenade at the end of the year.
- Give up cable. I’ve been thinking about this for a long time, and I’ve decided it’s time. With so many cheaper options to catch my favorite shows, it’s really crazy that I’m still paying for it. Sling, Netflix, and Hulu are going to be my besties in the New Year!
- Set up direct deposit. You can set up your paycheck so a portion of it deposits into your savings account automatically. Then you never have to see it or miss it and instantly save money. I used to do this at my previous job and it was really helpful. I need to set this up at my new position as well.
- Refurbish old furniture. I have mentioned once or twice this week that I am on a decorating kick. However, it’s a little hard to do that with little funds. DIY furniture is really “in” right now and I have a lot of hand-me-down furniture from the 90’s. I’m Pinterest-ing the heck out of ideas how to update it.
- Don’t shop hungry. I’m the worst at this because I do it after work. Make a grocery list and stick to it. I promise you don’t need that roll of Tollhouse cookie dough.Β *cough* speaking to myself *double-cough*
- Keep your pets healthy. If you take your fur-babies to the vet regularly, it’s actually cheaper than paying for an emergency. I heard on the radio that someone paid over $15,000 in vet bills. Insane. I’d rather take my kiddos in for regular check-ups and make sure everything is working the way it’s supposed to.
- Make short-term goals.Β I have long term goals, of course. Those just seem very daunting, so I’m focusing on the short term. I’m working on a weekly/monthly plan rather than an end goal.
- Shop online.Β Free shipping on Amazon Prime is a God-send. Plus, there is usually a coupon code floating around somewhere for your favorite store.
- Know your finances. Check your credit score, pay down credit cards so you aren’t paying interest, keep track of your monthly bills. Knowing every detail of where your money is will help you save long-term.
- Refinance your student loans.Β I personally don’t have student loans (Hallelujah, thank you Mom and Dad and HOPE Scholarship!) Student Loans are crippling for those who are trying to save money. You have options, though! Earnest has created a whole resource page with ideas and tips to help pay off those pesky loans.
Earnest put together this awesome graphic with some of their money saving tips combined with some of my ideas to help us ALL get on track in 2017!
What are your favorite money-saving tips?
Great advice! i work for a non-profit as well so I know the paycheck life. i also live by myself currently so its really important to be financially aware. Luckily, i was able to save up living at home after grad school for a year and make a huge dent in my student loans or else none of this would currently be possible.
That’s awesome! I lived by myself too before I got married and man those bills add up. That’s great that you were able to save so much!
I really need to save more too! I have set out a savings plan in my Bullet journal this year so hopefully that will help.
Great tip about spreading your Christmas gift shopping throughout the year! December is such an expensive month!
Lianne @ Makes, Bakes and Decor
I hear so much about bullet journaling lately and I really feel like I need to get into that. Sounds like it would be a great way to keep track of my money.
$752 is the average amount spent on Christmas?! Oh my goodness, I need to get my spending in check. But then again, it’s the average so maybe I’m not horribly out of whack, considering I have two kids and a husband.
Still, something to think about!
It’s so crazy when you see the number in print! I need to spread that out over the year.
Saving money this year is also high on my goals list! I love that this graphic splits it up by quarters and gives you little challenges. Unfortunately neither my husband or I get holiday bonuses at work, but I will have to cut down my coffee runs in February.
xo, Lily
Beauty With Lily
I don’t either…it’s a bummer. However, the graphic is awesome! I love that Earnest created that.
My day job is working as a banker and I’m big on the refinancing piece. It scares my how many people do not understand their rates and who they effect you long term! Tiffany @ http://www.arrowsandawe.com
That’s the part I need to learn more about for sure. Very cool that you’re a banker!
Don’t shop hungry is such a good tip! I always regret it when I do that. And I tend to end up with not just more food, but more junk food.
Exactly, like I totally needed mint Oreos…NOT!
These are some awesome tips! I definitely agree with the not shopping hungry one! Anytime my husband and I go on an empty stomach we end up spending twice as much!
It’s crazy! I end up with a whole cart of junk when I shop hungry.
Really good advice! I also just exercise to youtube videos at home and I love the variety! I also hope to make wise financial choices in 2016!
I love YouTube. I really love working out at home, especially when it’s cold and YouTube is the perfect way to do that.
These are such awesome tips! π We’re planning on getting a house this year so we need to implement some of these tips.
We are probably a year or two out on purchasing a house, but that is my ultimate long-term goal and why I need to get my saving in check.
Awesome tips! I definitely needed these – I have a lot of goals for 2017 and I really need to change up my money habits. I have started with quitting my gym membership and workout at home. And yes, I really need to stop doing the grocery or going to the mall hungry. Eating out can cost a lot and we don’t even realize it.
Abby of Life in the Fash Lane
It’s crazy! I always end up with a cart full of junk when I’m hungry!
I’m actually on a spending freeze this month because I haven’t been working as much and I have a lot I need to pay. I think we may give up cable soon because it’s just so expensive. We’ve heard great things about Sling, so we might look at that.
That’s what I’m looking into too! Let me know if you make the switch!
These are super helpful tips! I so agree that shopping while hungry causes you to spend more! We just decreased our cable package to the standard package. I just couldn’t part with my ESPN and Food Network.
There are just some things I want to watch live, so I’m having a hard time parting with a few channels, but we’re figuring it out. And yes, I always end up with a whole cart full of stuff I don’t need when I’m hungry.
This is one of my goals this year too! We canceled cable last year and I highly recommend it. I don’t miss it one bit! We have Netflix and Sling, and it’s still way cheaper than cable! Great way to save money! I also want to start buying Christmas gifts early and really budgeting for them!
I’m looking into Sling! It’s great to know you like it!