Save Money Series: Mindless Saving Tips
Don’t you just feel a little bit deprived whenever you realize that it’s scrimp time? I do, and I feel so “api”…huhuhu! But I do realize that saving is an important financial exercise that we all need to subscribe to as early as possible. Not only will it help us become financially secure in our old age, but it can also allow us to retire young. Yey!
And so I decided I’ll cheat myself into saving. Hihihi! Yup, I do cheat myself through five simple mindless saving tips. A note of caution though: I can easily cheat myself, thus simple things like this work for me. I am not so sure if this will work for you, but you can always try. (Wink!)
1. Have Nothing In Your Wallet But Your Allowance for the Day
Much to my hubby’s horror, I usually finish off my weekly allowance before Friday. He always threatens to starve me, but he does not come around to doing it…I wonder why. Hihihi! Feeling all embarrassed of the fact that I cannot make do with my weekly allowance, I tried to discipline myself by having nothing in my wallet but my allowance for the day. And guess what?! It worked! Now, I don’t overspend. In fact, I leveled up a little…I put in a lesser amount than my allowance, therefore I automatically saved a little for the day because I already left a part of my allowance at home.
2. Empty Your Coin Purse Every Night
This one is my favorite! My hubby bought me a really giant coin bank which I am supposed to fill-up from January to December. Every night, I put all the contents of my coin purse into the coin back…leaving nothing at all. I religiously did this last 2007 and I saved enough coins to pay for my Boracay vacation! This year, I am planning to go to Cambodia using my coin savings…and so I am not letting up on emptying my coin purse every night.
3. Have a Separate Wallet for Your Cards
I have an officemate who taught me to have two wallets: one for my cash and another one for my cards. He said that whenever I am about to go anywhere, it should be clear to me if I will spend in cash or card. If I decide that it will be an all-cash-day, I better leave my card wallet at home and bring only my cash wallet. This way, when I ran out of cash, I’d be compelled to just head for home instead of making unplanned credit card purchases.
4. Eat First Before Going to the Grocery
You can have a fun experiment on this one! Volunteer to drive your mom to the grocery just before lunch. Make sure she’s a little hungry while shopping…and see her overshoot her grocery budget, or at least have a hard time sticking to it. Hihihi! The next week, volunteer to drive her again after lunch. Make sure she has eaten heartily and is still full in the stomach while shopping…ahh, she’ll do a better job in managing her grocery budget. Why? Studies show that when you shop for food while you’re hungry, you tend to get everything that you think will satisfy your hunger at that moment. You tend to put in your cart even those that are not included in your grocery list but are appealing to your taste buds. Lesson: Eat first before you hit the grocery, you’re going to save a lot!
5. Go for Automatic Savings Deduction
Where I work, we have this savings loan association that you can voluntarily sign up with. The said association requires us to pledge a specific amount from our salaries which will be automatically deducted every payday. And because they use our money for their business, we get a fairly significant amount of dividends twice a year on top of the sum of money that we put forward every month. I recommend that you sign up for similar arrangements like this if your company has such facility. When your savings are automatically deducted from your pay, you have no choice but to live on the remaining money that you have in your ATM. You’ll even forget that you actually have monthly savings! As they say…out of sight, out of mind!
So there, those are my ways to cheat myself into saving. I like to call it mindless saving because I don’t have to think long and hard to make sure I get to save. These practices just make it happen effortlessly. How about you? Do you have fool-proof ways of ensuring that you get to save on a regular basis? Share! Share!
Comment from monette
Time: April 12, 2008, 6:11 pm
hi jomed! tell me if you saved a lot of money ha?! hihihi! btw,thanks for visiting my blog. :)