Do you ever feel that no matter how hard you try, sometimes it’s impossible to save money? And when you do manage to set aside money, life happens: the car needs new tires, the kids new braces/clothes/useless gadgets and just like that, the savings are gone. We can totally relate to that.
We asked some of our colleagues to share with us what works for them. Who knows, maybe we can take their advice and end up with some extra money…
I like to believe that I am a well-organized person and my finances make no exception.
I do not have a recipe, but this is what works for me:
– Keeping track of monthly expenses (I don’t use a particular app, I just use the transaction summary from my bank and make pie charts).
– Having a goal in mind – be aware of the thing for which I am saving money.
– Before making an impulse buy, think twice if I really need that item, if I’ll use it, or if it will make me happy for more than just a few minutes. If none of those reasons checks out, I discard the item from my shopping cart. (Juanita L.)
My money-saving tip is related to organizing a weekly menu and shopping session.
Usually on Sunday mornings, we write up a menu for the following week (it’s mostly about dinners, sometimes about lunches), considering the following criteria:
– suggestions from all family members on what they would like to eat;
– who will be present at which meal (how many portions are needed);
– how long it takes to cook that particular dish;
– what is the availability of the person who usually cooks that dish to cook on a specific day, considering other events in the schedule;
– if one round of cooking can cover two consecutive dinners etc.
Based on this menu, we write up the shopping list, including approximate quantities, and shop for groceries just once a week. We lose less time and are less likely to generate food waste, both of which can be translated into money.
And we very rarely end up ordering some random food at the last minute to cover for “I have no inspiration on what to cook tonight” – which also means saving money. (Christina C.)
The tips that actually work for me for money saving are:
– Never go shopping on an empty stomach; this way I never buy more than I need and have no food waste;
– When online shopping, I always let the products in the basket for a few days and then review them; most of the time more than half I will no longer want. Of course, this does not apply when shopping for books :)
– I never buy things that I do not really love and need;
– When possible I always use the “money back option” in my online bank app;
– Every month I try to save at least 10% of my salary in my savings account. (Ceci B.)
I don’t have a magic recipe but what seems to work for me is to “wait until tomorrow” and see if I really need the item I’m looking at.
Works most of the time. If it doesn’t work, lock your card and delete it from any “dangerous” apps. (Andrea T.)
I’m no money-saving expert, but I try to be responsible with my spendings and put something aside for rainy days or sunny vacations.
– I avoid, with success most of the time, buying on impulse. Sometimes I think 2-3 times ahead if I really need that product, if the question still pops up after 3 times, most likely you/I don’t need it
– don’t waste food, I buy only what I know we’ll consume
– invest in quality products, maybe a bit more expensive, but they might last longer
– use your bank options to save money, small things like rounding up your expenses, and the difference goes to an economy account or short-term deposits
– plan your trips outside popular dates, this way everything will be cheaper
– avoid debts (if you can)
– Oh and last but not least, turn off that light! :) (Daiana B.)