Whether you area teenager making a few dollars a week on household chores and babysitting, or a 20-something pulling in regular payckeck, you should be saving money and giving generously. The only way to do it is by not spending all you make.
When I was a teenager making money babysitting, teaching a handful of violin students, and doing seasonal landscaping, I started saving money. I saved a nice little pile, although it could have been more had I started budgeting sooner!
It is so easy to just earn it, then spend it. I mean, it’s fun, right? It’s enjoying the fruit of our labors! But there are some things even more fun than spending money on ourselves:
Giving Money to Others and Saving Money.
If you have ever struggled with overspending, and had trouble keeping your finances- even small amounts of cash- in line, I know the feeling! It is way to easy to let the money slip through our fingers instead of strategically placing it where it needs to go.
Today I want to share with you 5 Tips to Cure Financial Butterfingers:
- Track it! You must track every single dollar you earn and spend. This way you can look back and see where your money is actually going, and change your gameplan if need be.
- Watch the little expenses. Coffee is a big one for me. It is way too easy to stop by the coffee shop and grab a scrumptious drink. But the truth is, I can make my own delicious coffee at home. I choose to never buy coffee out unless I am meeting up with a friend, taking out a family member, or going for work (even that is limited, as the library also has free wifi and quiet.)
- Always pack lunch. When shopping, my mother taught me to always pack food. The RARE times we would actually get frosties at Wendy’s or lunch at Chik Fil A or a yogurt at the health food store were so much more special because they were not a regular occurrance! And we saved hundreds, if not thousands, of dollars as a family by nearly always packing food for traveling, shopping, and other outings. When I started working away from home as a teenager, I didn’t even entertain the idea of going to Subway for lunch like my employer sometimes did. I automatically packed lunch. Now, in my 8 years of working away (landscaping and hotel) I have never once bought lunch. I pack every single time. I would rather save my money to be able to take my mother out to a fancy restaurant for lunch, or give extra money to a missionary, or send a package to a friend, or put more money in investing.
- Create free experiences, outings, and gifts. Not every gift or special time has to cost money. You can give coupons for birthday gifts, etc. I am going to do an entire post on this next week, so stay tuned!
- If you are tempted, don’t go there! I absolutely love a certain consignment shop in the city near us. I used to go there often, but now I rarely go unless I have a specific item or list of items I need. It eliminates the temptation to buy un-needed things.
Well, I’m signing off for now, friends! What would you like me to write about next? I have posts on investing and giving coming up, but I am open to other ideas, as well!