- October 7, 2022
- Kaitlyn
5 Tips and Resources to Help You Save Money
You’ve probably heard of the standard “don’t get a starbucks coffee every day” when talking about saving money. I say, if a Starbucks coffee is important to you, get the dang coffee! We’re going to go over some other ways to keep your money in your bank account.
Table of Contents
How to Invest in the Stock Market
Did you know that if you keep your money in your savings account for years, you actually end up losing money because of inflation? Inflation (the rise of priced goods over time) is important to keep in mind when talking about money!
Investing in the stock market seems risky to a lot of people. There’s so much complicated lingo and unknown, so why risk it? I promise it is so much easier than it sounds. You just need the right resources to teach you and the right strategy!
My favorite resources are Girls That Invest and Ellevest.
Girls That Invest breaks down the stock market and provides consistent stock market updates. They’ve taught me everything I know about the stock market in such a simple way to comprehend. They’re 2 girls from New Zealand that host a podcast and have a course that breaks down everything step-by-step. They also just published a book!
Ellevest provides resources and updates on the stock market as well. They are their own investing platform! They are also just an amazing community of women who provide financial advice.
How to Coupon
Couponing is a great way to buy the things you both want and need, but still keep the most amount of money in your wallet! Most stores have an app, so I recommend getting the apps of your favorite stores (target, walmart, dollar general etc.,). They will have deals listed on the apps of your favorite things!
My favorite is when there is an in-store discount AND an app discount. Most of the time you can combine them and get your necessities for less than a dollar!
My all-time favorite couponing resource is Kiersti Torok. She is on Instagram and TikTok and always posts whenever a deal is happening so you can get your favorite items for less than a dollar! She shows you exactly how and what to do as well to make sure you keep as much of your money as possible.
How To Create a Budget
Budgeting is definitely easier than it sounds, but if you put the effort into it, you can see exactly what you’re spending and where so you can potentially cut down on random expenses.
My favorite resource for budgeting is NerdWallet. They have great advice and information about credit, financial advice and budgeting. I found this great article where they explain how to budget and the best tips for budgeting!
My one piece of advice is to always give yourself some spending money so you can buy your coffee guilt-free! There are many apps that will give you money back for things like receipts, gas, and more! Feel free to check out an article here for more details.
Why Setting Goals is Important When Saving Money
Saving money and budgeting is all very mental, which is why setting goals is important. You can have short-term goals like saving for a big purchase or vacation, but I always recommend having a long-term goal as well. Retirement, education and a house are great examples of long-term goals to save for!
Comment below what goals you’re saving for!
Wants Vs. needs
My last piece of advice when saving money is clearly knowing your wants vs. your needs. Everybody will be different so I can’t tell you exactly what to buy vs. what not to buy. Ask yourself these questions before making a purchase:
- Can it wait?
- Do I really need it?
- What would happen if I don’t buy it?
But the most important question is:
- Does my budget allow it?
If your budget allows it (you haven’t spent all your spending money), then go for it! But if it doesn’t allow it, I would go through those questions again.
Let me know in the comments what YOU are budgeting for and which 5 tips and resources to help you save money was your favorite!
My emails are always open if you want to chat! Send me a message to hello@strivehustles.com
