We can all come up with excuses for not doing things we find distasteful. For some people, saving money is like a dreaded chore and they make up all kinds of excuses in order to avoid saving. Here are the top ten excuses for not saving money:
1. I can’t afford to save money. Actually, instead of thinking this way, you need to understand the importance of paying yourself first. Before the bills get paid and you buy that new gadget that is being advertised on television, tuck away a small amount each month or each paycheck towards both your retirement savings and your rainy day savings.
2. I want to enjoy the here and now and not worry about tomorrow. There’s nothing wrong with enjoying the present, but you don’t want to do so at the expense of your future. You need to make sure that you are properly saving for your future and not getting yourself so deep in debt that you won’t be able to dig yourself out.
3. I’m not good with money so I just can’t seem to save it. This is a money script that is harmful. You need to change the way you think about money. After all, money is just a thing. You can be in control of your own money, it should never have control over you.
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Pam Money Saving Tips
If you take a close look at your current lifestyle, there are likely one or two habits that you have developed that have cost you a lot of money over the years. My challenge to you is to work towards breaking those expensive habits this year so that you can use that money for bigger and better things such as saving for your future, doing some home renovations, or taking a much-needed vacation.
I’ve listed below just a few of the many expensive habits out there. I’m sure you could come up with more of your own that you need to challenge yourself to overcome.
1. Unused gym memberships – There’s certainly nothing wrong with paying for a gym membership if you actually go to the gym regularly and make good use of it. Unfortunately, however, a lot of people don’t use the gym enough to merit paying for a membership. If you’re one of those people, I recommend canceling your membership and getting exercise by some other method such as jogging with a friend or family member regularly.
2. Specialty coffees – If you find yourself stopping at Starbucks every morning for your favorite specialty coffee, consider buying the mix and making a cup at home. You can bring it to work in a mug or thermos for a fraction of the cost.
3. Buying lunch everyday – Rather than throwing away your hard-earned money day after day by buying lunch at your work cafeteria, get into the habit of bringing your own lunch to work using leftovers from the night before.
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Pam Money Saving Tips
If you have loved ones that live far from home and talking on the phone just doesn’t cut it, I recommend using Skype. It’s a free software that you can download onto your computer that is free, easy to use, and the best part is that you can even see an image of your loved one while you chat. It’s like sitting across the table from the person you are chatting with; It really is the next best thing to seeing them in person.
Skype has been around since 2003 and since then many people from around the world have taken advantage of it. Skype can be used as long as both parties have a high-speed Internet connection. Although you have to pay for Internet, Skype itself is free. It sure beats having to pay outrageously expensive phone bills to talk to friends and family living overseas or even outside of your city.
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Pam Money Saving Tips
I can’t emphasize enough the importance of creating savings goals. Although I’ve written about this before, I thought I would jog your memory and have you think hard about what you want to achieve during your lifetime. Once you’ve determined your life goals, the next step is to decide how soon you’d like to reach each goal, as well as how much money you are going to put aside each paycheck in order to achieve each goal.
To get you started, I am going to list examples of life goals that many people aim for. Choose the ones that are most important to you and then we can move on to the next step. Be creative. There are so many things you can achieve with your unique gifts and talents.
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Pam Money Saving Tips
Believe it or not, your loose change adds up pretty quickly if you make a habit of emptying your wallet or purse once a week and putting it in a jar. After a few months, if you count it, you will discover enough money to treat yourself to a dinner out with your family, or maybe it will help you pay for a minor car or home repair. Whatever you use it for, you will be surprised at how much you will accumulate. This is especially the case for Canadians where we have one dollar and two dollar coins. It doesn’t take much change to add up to to $20 or $30.
By keeping it in a jar at home, you will be less likely to spend your loose change on frivolous things like useless items at dollar stores, junk food at vending machines, or whatever other temptations you have. For me, my weakness is potato chips. If I know that I have enough change in my purse to buy chips, I will often squander my money by paying an outrageous price for a small bag of chips. By keeping my loose change at home, not only do I save money, I also eat a lot healthier.
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Pam Money Saving Tips
While I was doing my regular grocery shopping this morning, I decided to treat myself and buy some Tim Horton’s English Toffee Cappuccino. Rather than spend a couple of dollars on just one cup at Timmy’s, I thought I would make my money go further and buy a whole container. So, for $7.00 I bought a Tim Horton’s cappuccino mix, so now I can make at least 20 cups of cappuccino instead of getting just 2 or 3 at the drive thru.
This works for Starbuck’s fans, too. If you really like Starbucks coffee or hot chocolate, you can buy their mixes and coffee beans at most grocery stores as well as at Starbuck’s locations. Although some people find it more convenient to pay the extra money and pick up a coffee on the way to work, I find it far more convenient to be able to make my own at home. There are no lineups to worry about and if I want to bring it to work, I just bring my thermos.
Why not make your money go further by purchasing your own specialty coffees and hot chocolates? You can enjoy high quality, great tasting coffees for a lot less than you think!
Pam Money Saving Tips
A great way to save money on your Christmas tree this year is to buy a nice artificial tree that you can use for more than just one season. Although a good quality artificial tree may be more expensive than purchasing a real tree, if you use it for ten or more years, you will save a lot of money in the long run. You will also eliminate the hassle and mess of a real tree, and you will be able to pack it away in a box to use next year. Don’t buy a really cheap tree because it will likely end up being poor in quality and then you won’t be able to use it for as many years. It’s better to pay a bit more now and then have it last you for a long time.
As for decorations, if you like to decorate the outside of your home with Christmas lights, purchase good quality LED lights which will be bound to last for more than one year. LED lights are a good choice as they use less electricity than the traditional lights and your electricity bill will attest to that.
To decorate your Christmas tree, you can find some great deals at dollar stores. There’s no need to pay a lot of money to decorate your tree. If you look hard enough, you will be able to find all kinds of treasures and you won’t have to break your budget to make your tree beautiful.
If you have kids that are getting antsy during the Christmas holidays, you can put them to work in making homemade Christmas tree decorations out of popcorn and colored paper. Paper chains are always a lot of fun to make and they can be strung around the tree.
Gift wrap can be inexpensive if you purchase large rolls and use them for more than one season. A great way to save money is to purchase wrapping paper immediately after Christmas as it will be on sale, and then you can store it to use for the following year. The same goes for Christmas ribbon and bows.
The best way to save money during the Christmas season is to plan ahead. Don’t put yourself in the position of having to buy everything last minute, because then you will be sure to pay full price for everything instead of taking advantages of sales throughout the year. By planning ahead, you will also be able to eliminate the stresses that come with last minute preparations and shopping.
Christmas is still a little more than two weeks away. You’ve still got time! Happy holiday preparations!
Pam Money Saving Tips
We can all come up with excuses for not doing things we find distasteful. For some people, saving money is like a dreaded chore and they make up all kinds of excuses in order to avoid saving. Here are the top ten excuses for not saving money:
