My Top Saving Tips

3 Oct

My Top Saving Tips for Ladies in their 20s who want to look good and get what they want. 

As some of you may know I am a qualified Accountant and know a thing or two about saving my money.

My friends are always amazed that I am able to travel so often, live out of home, attend events regularly and buy new clothes, make up, etc.

So here are a few of my tips to help you save up for something wonderful that you totally deserve.

  1. Go Shopping Often
    I go “shopping” around once every 1-2 weeks. I look around, try on clothes, look at prices, see what’s on trend and most of the time come home completely empty handed BUT I have had the feel good experience of shopping and therefore I don’t feel the desire to go shopping for another few weeks.
    If there is something I really need than I will purchase it but lately this only happens a couple of times a month and they are not big purchases.
    If I am desperately desiring something it is always worth searching online to see if i can find it cheaper somewhere else or second hand off eBay.
    coas
  2. Create a monthly budget with Excel
    Check your bank account regularly. Know how much money is coming in each month, when bills are due, expected amounts of each bill and absolutely put money aside each month that you cannot touch even if it’s only $100.
    Some companies give you discounts if you pay bills on time so it is worth checking these details with your providers.
    You don’t need to keep track of every dollar you spend but it is important to know your current financial situation and make your savings a priority.
    After 2-3 months you can look over your bank statements to compare what your actual expenses were compared to your expectations and adjust your spending habits to ensure you reach your savings goals.
    budget travel
  3. No. 1 QUESTION: DO I NEED IT?
    This is the key question to ask yourself before making a purchase. If you are trying to save money and the answer is no, don’t buy it. In the past I would make impulse purchases such as a dresses that didn’t fit right, a puffy vest that didn’t suit me and shoes that are too uncomfortable to wear out. These items lived in my wardrobe for a couple of years and then were donated to a Charity shop. This accounts to hundreds of dollars spent on items that provided no benefit to my life.
    Always think about what value an item will add to your life. For example lights for my bicycle is a NEED, a sports bra if you don’t already own many and are working out often is a NEED, tampons are a NEED, that pretty patterned scarf you want but you already own several scarves is NOT SOMETHING YOU NEED, PUT IT DOWN AND LEAVE THE STORE. The more you practice this self discipline the easier it will get. When walking away from the item you want think about what you are saving for such as a car, house, holiday and ask yourself which would you rather have? What will bring you the most happiness?
    Your new mantra is:
  4. DIY.
    Because I have always been conscious of my spending, whenever it is possible to DO IT YOURSELF I opt for this option. Here I am mainly talking about beauty treatments and products such as hair dye, hair cuts, face and body waxing, fake nails, etc.
    A girl can spend thousands on these things each year when really with a little bit of research, effort and time you can get the same results for a fraction of the price.
    You are capable of doing these things yourself, don’t be lazy.
    By doing the above things yourself it is possible to save roughly $3,000 per year, which is the total amount I spent on a holiday backpacking Japan for 3 weeks. Which would you rather: an incredible experience of traveling a new exotic location or looking perfectly put together for 1 year.

    This is what I've been using the past 2+ years.

    This is what I’ve been using the past 2+ years.

  5. Know what items are worth investing in.
    When it comes to spending your hard earned cash know what items are worth investing in.
    A good pair of jeans, comfortable sneakers that you will wear often, well made underwear, appropriate work out clothing, a decent handbag (One not SEVERAL), high end makeup, brand new technology (if you currently have none not just upgrading for the sake of it). These are all investments as they will bring additional happiness and comfort to your life plus last a lot longer than cheaper versions.
    Items that are not worth investing in:
    Heels that will be worn less than 5 times a year, expensive pajamas, decorative pieces for your house/room, a new dress for a wedding that will only be worn once, another statement red lipstick when you have several at home, jewelry, a new coat for winter when you have several already, etc.
    Basically don’t feel the need to jump onto every new season fashion trend, just be you, wear old clothing and keep your own unique style.
    The number one thing you should invest in is your health. That is why a gym membership, work out clothing, good healthy food and fun experiences with friends like going out for dinner or to the cinema are all things you should be spending your money on 🙂
    organic-foods
    cm

I hope this post helps you reach your savings goals!

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