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Today I want to share some tips I have learned and am still learning on how to help you budget in your 20’s or at any point in time in your life! I recently sat down, went through my expenses and figured out how much money I have left over when I am all said and done with my bills and such. Below I will show you an example of a little budget tree I have created and some of my top tips on saving money to help start your journey to success and a lovely looking savings account.
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Money Saving tips and tricks:
Create a visual mind map of your expenses (refer to the image above I have oh, so artistically created) to literally see where your money is going and what you have left over at the end of every month.
Place all your left over change (and maybe some small bills if you’re feeling crazy) in a jar or some container and forget about it. Don’t EVER touch it until it is full.
Stop buying those dang fancy drinks every day. A treat once in a while is okay but those coins seriously add up. I dare you to pull out a calculator and see how much you are spending on those a month.
Eat at home more often.
Workout at home or outside if you don’t necessarily need or want a gym/yoga studio.
Set your bank up to auto transfer X amount out of your checking account to your savings once a week. Any amount will do! No matter how small. It all definitely adds up without you even knowing.
Do not ever rely on your credit card. It is good to use it to build credit but be sure to pay it off ASAP. Whenever I use mine I usually pay it that very same day.
Ask your bank to set up a system where everytime you use your debit card it automatically transfers any amount of money you want to your savings account. Once again…even the smallest amount will accumulate into a nice number if you can do so!
Alcohol adds up. If you’re one to go out every weekend or even have a drink after work…it definitely adds up just like your fancy Starbucks drinks but much, much more.
Have an allotted amount of money for certain things such as “fun” money and grocery money and promise yourself never to exceed (obviously food is important so make sure you give yourself enough food allowance then deal with how much you have left for fun things). I am cutting back on my grocery spending because if I could bake and cook everyday with all my expensive ingredients…I totally would.
Use cash over card. It is harder to spend money while using cash rather than a card. Cash is much more visible leaving your wallet and never returning again…haha.
Invest in stocks/tax free savings account. I will be honest..I know absolutely nothing about the stock exchange and quite frankly do not have any interest in learning about it, haha. Buuuut luckily my moms husband is a stock broker so I gave him some money and trusted him to choose the correct things to invest in (for this reason, I have to stay on his good side 😉 ). I always forget I even have that money which is so nice to remember that it’s always there and increasing without me even doing anything!
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Hope this helped you even the slightest bit xx Enjoy your day.

6 comments

  1. I always use cash, and make sure that I set limits for all of my spending. It can be good to have an automatic withdrawal to a savings account, but sometimes its better to do it on your own time so you don’t forget about it and feeling discouraged. However, to each their own on that methodology. Ladies Prism is coming soon to romance the world. Scotian Breeze is the movement. Treasure Words, Collect Figures is the company. History in the making; stay tuned.

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