Tips for Saving on National Savings Day

National Savings Day was set up by Capitol One.  A great way to market their business, right?  Despite the marketing aspect, it is a great way to encourage people to gain confidence about their relationship with money.  Believe me I get it!  Savings accounts have come and gone in my life and at the ripe old age of 60, I think I am finally feeling better about my relationship with money.

Most of us are great at collecting sentimental items – pictures, scrapbooks, or jewelry passed down through generations of family.  Why?  Because they mean something to us and they evoke emotion. These collections are the thing which helps me on the days when brain fog and MS lesions cause me to forget.  To same it is just “stuff” while for others it has a different meaning.

Why is it then so hard for us to transfer this concept to a portion of our paycheck every month?  Why is it so hard to pay ourselves FIRST in preparation for a rainy day or retirement?  What if you were to consider a savings account like your junk drawer or the sock basket?  Would it make it any easier?

Growing up my mom had a bottle she kept half dollars in.  When she was at work, if someone paid with a half dollar, at the end of the shift/day, she would swap bills for those coins.  She took the coins home and dropped them in the bottle.  Her savings account when she started working.

Life and my addictions got in the way of my saving money.  From drugs to credit card debt, I always had an excuse NOT to save.  I needed money for bills or groceries or whatever.  I know I am not alone, right?  Does the thought of paying yourself first and NOT touching the money seem crazy?

Here are a few tips which might help you get started on the savings road:

1. Organize your grocery shopping

Being organized when you go grocery shopping can help you save money. Have a list of what you need to buy, and coupons (I’m still working on this one).  Shop early in the week to avoid the stress of over crowded stores.

2. Eliminate one service each year you can do without

YIKES  Scary, right?  We cut our cable bill by almost half.  We went from what seemed like 1000 channels to about 300 although the cable company said there are only 143.  We use our cell phones all of the time.  We have a landline for doctors to leave messages.  So I cut the cost to less than $30 per month.

3. Don’t buy “off the shelf”

There are so many ways to buy things – Facebook, Craigslist are on top.  Then there are thrift shops, yard sales, and church rummage sales.  Surf the web for the lowest price, or upcoming sales.  You may not want to do this for small purchases but maybe say $50 and above.

4. Participate in – and use – your rewards programs

Admit it!  You have tons of reward cards, right?  How many of them do you actually use?  Sign up for them where ever possible, and keep tabs of your points. I love Ebates because the notification pops up about a rebate when I am shopping online at a store which offers it.

5. Sell what you no longer need

Instead of throwing away items you no longer use, try selling them first to make some additional money. Then put the money towards a bill.  We are not allowed to have yard sales at our condo complex so I have tried Facebook and Ebay.  Those require a little bit more time and organization.  When items don’t sell, donate them to a local non-profit and be sure to get a receipt for tax purposes.

6. Buy clothing in thrift or discount stores

I have been a fan of thrift stores for years, since before Belinda was born.  Thrift stores don’t have a huge selection, but you can often come across the perfect item from time to time, sometimes barely used. This is great  for kid’s clothing since they outgrow them so fast.  If thrift stores aren’t your thing, then take a look at discount stores like T.J. Maxx or Marshall’s.

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Thirty One’s Soft Utility Tote is perfect for these kinds of trips.  It can be a large purse and then expands to carry all of your treasures home.

7. Buy when everyone else is selling

Retail sales usually fall off in January, so nearly everything goes on sale. Wouldn’t it be better to do the bulk of your buying in January rather than November and December.  Buy your winter clothing in late winter or early spring, when winter items go on clearance.

What are some of your best tips to save money?

Have a ThirtyOne-derful day!

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