creative ways to save money

21 Creative Ways to Save Money: Every Woman Should Know These

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21 Creative Ways to Save Money: Money Saving Tips Every Woman Should Know These

I used to find it really hard to save, until I discovered a few creative ways to save money. I would set aside a particular amount of money, but spend it all as soon as an emergency came up (and they always did!).

It was frustrating and only the thought of achieving financial independence like I’ve always dreamed kept me from giving up.

One thing that helped me through the phase though, was coming to understand that saving money can be mastered only by applying age-long money saving tips and passed down by financial experts over time.

If you find yourself also struggling to save money or know someone who is, here are:

Five Money Saving Tips that will Help You Save Money

1.Saving Money Takes Discipline

A lot of it! There are just too many amazing things screaming to be acquired all around you. To say no to that beautiful red dress just beckoning at you as you stroll past that store takes a lot of discipline and willpower.

I should point out too that for most people, discipline doesn’t just come on you, but is something you gradually develop. The more you discipline yourself to put aside that little amount of money, the stronger your resolve to save and soon you’ll find saving will become a habit.

Read Also: Living with a Perfectionist: 6 Ways You Can Achieve Success

2.Have a Goal You’re Pursuing

This is one of the money saving tips that worked best for me. I found that it was easier for me to save when I had a financial goal in I was chasing.

For instance, my husband takes care of our rent, but there are times when doing so can be a bit overwhelming, not with other bills screams screaming for prompt servicing and at such times, I step in to assist.

I have found that having a particular goal ahead of you makes it much easier to exercise that discipline to save and this works for me all the time.

creative ways to save money
creative ways to save money

3.Pay Yourself First

Develop the habit of paying yourself first or you’ll find you have nothing left once the bills get settled.

To make it easier for you, automate this process by placing a stop order on your bank account, that way, once money hits , a particular amount (as specified by you) gets transferred out.

You can arrange it so that this money gets transferred to your savings account, making the whole process way less stressful for you.

4.Have Different Accounts for Different Purposes

You should have at least three accounts at all times: a savings account, a transactional account, and an emergency account.

Here’s the breakdown of each

  • Your Savings Account: As expected, your savings account will house every money that is to be saved. We will explain it’s use later on.
  • Your Transactional Account: This will be the account that gets used a lot. It will house money that will be used for your regular maintenance.

Money here will be used to service your bills, groceries as well as personal and household needs.

  • Your Emergency Account

Money here will be set aside for those emergencies that crop up when you are least prepared, putting you under a whole lot of physical, emotional and financial pressure.

You can automate a fixeed amount to be transferred into this account each month, the same way you do with your savings, that way you are cushioned from the pressure of emergencies each month.

What to Do with that Money if There are No Emergencies That Month?

A few people I know usually leave this money and keep transferring to this account still, making their emergency fund grow.

For me though, I worked out a technique that works best for me: if at the end of every three months there are no emergencies (thankfully!), I split this money in two and transfer one half of it to my savings account.

5.Save to Invest

This is by far the best money saving tips I ever came across and I can’t tell how it has helped me.

I have found (I discover a lot. Lol) that saved money has a spirit (I’ll call it that for want of a better word to use) and disappears, no matter how you pride yourself at being disciplined.

Saved money is idle money and idle money can disappear at any time.

You should therefore ensure you do not have any idle money lying around for too long. Once you’ve saved it up to a point, transfer it out to be invested for you.

That being said, here are:

creative ways to save money
creative ways to save money

Twenty-One Creative Ways to Save Money

1.Walk Short Distances

Walk short distances instead of taking the bus or cab and you’ll find that not only will this help you save money, you’ll also lose or maintain your weight (which a lot of us ladies would love).

2.Use a Budget

Each time I go to the market without a budget I end up overshooting my spending. I would buy too much of an item and very little or none of a few I needed, making me spend more money to purchase those.

Go armed with a budget and you’ll find not only those it help you but everything on your list, you’ll also know where you saved a little change from items bought at a slightly reduced price.

3.Cook in Bulk

Cook your meals in bulk and refrigerate to cut cost.

You might want to cook weekly though as cooking for longer sorts of makes the food develop a bland taste after a while.

4.Use Energy Saver Light Bulbs

This is one of the creative ways that really helped in my desire to save money. I found that switching to energy saver light bulbs and turning off the lights in rooms not in use cut down my electricity bills by as much as 40%.

5.Learn a Skill

There are quite a few skills you can learn to drastically cut down the amount of money you have to spend each month. These skills range from dressmaking, to soap making, shoe making and so on.

I make my dresses as well as those of my daughter and I can’t estimate how much I have saved from this skill.

6.Have a Piggy Bank

Piggy banks are a lifesaver as those little cents or change you overlook can be amassed to make a much larger sum, which then gets transferred to your savings account.

7.Get Wealthy Friends

Birds of a feather flock together and when you move with the rich and wealthy, you’ll find your mentality getting changed by the financial advice and lessons you’ll get from these friends.

8.Get a Wealthy Mentor

It’s not always easy to get wealthy friends as rich people always move together. If you experience this difficulty, then you should opt for a wealthy mentor instead and pay the price to learn from him.

9.Have Someone Hold You Accountable for Your Financial Goals

Have someone (your financial mentor or someone else) hold you accountable to your financial goal and you’ll find you’re less likely to default in it.

10.Have Just One ATM Card

And this should be attached to your transactional account, not your savings or emergency accounts.

11.Choose a Bank with the Best Interest Rate

Do a research to find out which banks offer the best interest rates and bank with those.

creative ways to save money
creative ways to save money

More Creative Ways to Save Money

12.Don’t make impulse purchases. Plan ahead before making each purchase

13.Cut down on or eliminate lifestyle habits that don’t just gulp money, but are also unhealthy like smoking and excessive drinking.

14.Pack your own lunch. It’s more cost effective to do so.

15.Carpool with friends.

16.Eat in as much as you can.

17.Cut out expensive items or habits.

18.Buy items or groceries in bulk and make use of coupon sales where available.

19.Do away with all credit cards.

20.Recycle old items instead of buying new ones.

21.Give yourself a treat once in a while, after all you worked for the money and deserve the best.

While these are creative ways people employ to save money, you’ll find not all these money saving tips will work for you. You should pick the ones that do and get on the train to achieving the financial life you’ve always dreamed of.

Tags: save money, make money, make money online, saving tips, money saving tips, creative ways to save money

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