Are you one of the many people who prefer to shop when a store has sales or promotions going on? Are you spending time every day flipping through your local grocery store’s weekly ads, waiting for that one item to finally go on sale? Well, that means like 95% of the population, you want to save money. Especially on the everyday things from shampoo and conditioner to groceries. With Black Friday approaching, customers are ready to stock up some great deals, however, wouldn’t it be great to save money even when it isn’t Black Friday?
Saving money doesn’t have to be exhausting. It doesn’t have to involve standing in a line for 2 hours or scouring every single flyer that is mailed to your house. If you want 4 effective and easy money-saving tips, then this article is for you.
Imagine if it only took a few clicks to find all the weekly ads at the stores you shop at, such as Walmart, Best Buy, and ALDI? Frequent-ads makes it so much easier to save money because it lays out all the current promotions and flyers of stores that you shop at right in place. You don’t have to visit Walmart’s website to see what is on sale, and then hop over to your local grocery store to compare. Instead, it is a one-stop platform for saving money.
What happens often is people want to save money, but don’t have the patience or drive to sift through all the flyers and search for the coupons. It is time-consuming and people are busy! They have lives and families to run which is why frequent-ads might just be your saving grace.
Frequent-ads has such a diverse selection of stores that it is the perfect tool for saving money this holiday season (which is fast approaching!). With stores such as Nintendo, Pottery Barn, Bath & Body Works, and even luxury brands such as Sephora, you can save money on just about any gift this year.
Utilize the 50-30-20 Rule
Adopting this financial habit of the 50-30-20 rule now will ensure you a lot less stress in the future, but what does it mean?
The 50-30-20 rule explains how much money goes towards your bills/necessities, spending, and savings. 50% of your paycheck is supposed to pay off things such as rent or mortgages, wi-fi, food, etc. All the things that HAVE to be paid for by a certain time and you cannot live without. Then 30% of your paycheck goes towards your spendings. That can mean things such as makeup, books, and other things that you don’t necessarily need, but want. I am a big believer in not just saving your money, but spending it too. After all, you are the one earning all that money. Now, that isn’t to say you should go out and buy everything you want, but it is all about balance. The last 20% of your paycheck goes towards your savings, which is really important. If you aren’t putting money aside every month, I highly recommend you start now. You never know when you will need it, especially with the current state of the world.
Identify Your Needs and Wants
Your needs and wants may seem obvious to you, but I encourage you to sit down at the end of each month and figure out how much you spent in each category. This is especially helpful if you are just implementing a new financial habit, such as the 50-30-20 rule, because it forces you to admit how much you actually spent on fun but unnecessary things.
Make a chart with the headings “Needs” and “Wants,” then look back at your financial statements and see what you bought. If your “Wants” category is creeping closer to your “Needs,” figure out the best plan of attack to avoid that next month. Maybe it is taking your spending money out in cash and not letting yourself use your debit or credit card for your wants. You might have to try a few different methods, but it is just important that you are doing what works best for you.
Follow the Stop, Wait, and Act Method
When it comes to spending money on yourself, the last thing you want is to spend it on useless things that you will never use. That is why I recommend following this made-up method of mine that works really well whenever I want something on the more expensive side. The Stop, Wait, and Act Method is self-explanatory; when you are in a store and find something you want, pause and ask yourself if you have ever wanted that item before. If the answer is yes, then you might want to go ahead and buy it. However, if your answer is a no, then this is where the method comes in.
If the answer is no, continue on with your day. If you still want it after waiting a whole day, or a few days, then go ahead and buy it. It proves you have been thinking about it and still want it, therefore, it’s probably worth it.
Those are 4 simple ways to save money, even when it isn’t Black Friday! If one of your New Year’s Resolutions is to start saving money, I encourage you to just start now. You will thank yourself later for it!