8 Simple Steps To Saving Money
Start writing a post
Student Life

8 Simple Steps To Saving Money

57
8 Simple Steps To Saving Money
theodysseyonline.com

In this day and age, no one has it easy. It’s an expensive world out there, and saving money seems to become more and more difficult the older we become. No matter how hard life can be, we could all use a little extra cash in our wallets.

Here are a few tips on saving money:

1. First thing's first, get a job!

Before I had a pretty steady flow of income, I don't know how I got by without having a job. Not only does having a job earn you a paycheck every week or two, it also teaches you to be responsible, independent and manage your time better. Have a job? Great! You're one step closer.

2. Set aside all your cash.

Whether its your babysitting money, a friend paying you back or money you received from grandparents or relatives, set it all aside and keep track of it. Hide an envelope in a secret place and keep a log of how much you set aside every time you add to it.

3. Download your bank's mobile app.

Personally, I watch my bank like a hawk, but that doesn't mean you have to! Check your bank account on your smart phone a few times a week, so you know exactly how much you have to spend. This also helps to avoid overdrafts and other fees.

4. Don’t spend your entire paycheck.

And not just all in one place! Always have money in your account in case of an emergency or if something comes up.

5. Transfer whatever you have left in your checking account into savings right before your next pay day.

A lot of banks make transferring money to different accounts really easy. You can do this on your smart phone app or your banks website. For example, if you have $30 remaining in your checking account right before you get paid, transfer that money to your savings at the end of the day and start fresh with your new paycheck for the following week. Over time, this will make a huge difference in your savings, and you can see your progress!

6. Create a budget.

Take the average weekly amount you get paid and divide that up into sections. Twenty-five dollars for groceries, $15 for gas, $20 for eating out or whatever it may be! Create a budget that is reasonable and one you can stick to.

7. Think about what you're spending your money on.

Do you really need that big pack of colored pens just to make your planner look cute? Do you really need that dress you're probably going to only wear once? Not really! Spend your money wisely and on things you truly need.

8. Pay your bills as early as you can.

If you have the money now to pay a bill, do you really think you're going to have that money later? Get paying bills out of the way to avoid late charges and other fees.

No amount of savings is too little. So, do what you can and start to save now. I guarantee, it will benefit you in the long run.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
​a woman sitting at a table having a coffee
nappy.co

I can't say "thank you" enough to express how grateful I am for you coming into my life. You have made such a huge impact on my life. I would not be the person I am today without you and I know that you will keep inspiring me to become an even better version of myself.

Keep Reading...Show less
Student Life

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

84636
college students waiting in a long line in the hallway
StableDiffusion

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less
a man and a woman sitting on the beach in front of the sunset

Whether you met your new love interest online, through mutual friends, or another way entirely, you'll definitely want to know what you're getting into. I mean, really, what's the point in entering a relationship with someone if you don't know whether or not you're compatible on a very basic level?

Consider these 21 questions to ask in the talking stage when getting to know that new guy or girl you just started talking to:

Keep Reading...Show less
Lifestyle

Challah vs. Easter Bread: A Delicious Dilemma

Is there really such a difference in Challah bread or Easter Bread?

50967
loaves of challah and easter bread stacked up aside each other, an abundance of food in baskets
StableDiffusion

Ever since I could remember, it was a treat to receive Easter Bread made by my grandmother. We would only have it once a year and the wait was excruciating. Now that my grandmother has gotten older, she has stopped baking a lot of her recipes that require a lot of hand usage--her traditional Italian baking means no machines. So for the past few years, I have missed enjoying my Easter Bread.

Keep Reading...Show less
Adulting

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

985999
Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments