This year, for me, is all about getting myself on a good financial track. For my age, I’m probably ahead of most, but I still feel there’s a lot more I can achieve. I’d like to be in the position of not having to work – but choosing to – pretty young.
I’m blessed in that my work is relatively easy, and up until this point I’ve always thought it easier to make more money, than to be more careful with the money I have. However, a few too many Amazon purchases lately and I’ve felt inspired to knuckle down on my finances.
Here are the simple ways I’m saving more money:
1) I’m going to open a Guatemalan bank account
Sadly, I can’t open one myself until I have my Guatemalan residency, and thanks to some rather shoddy lawyers and some lame paperwork, after SIX MONTHS I’m only at the stage now where I may be applying. Which means another year of waiting. I’ve asked my Guatemalan boyfriend to help me set up an account because I can’t do one alone. However, at the minute I’m spending anywhere from $15-25 per transaction and doing 2 a week. That’s a lot of money each month going down the drain, so I want my own bank account.
2) Cooking in Bulk
The other day I made two meals in bulk – about 8 meals worth – and it was so great. It was an easy way to save money and TIME. I hate cooking, to the point I end up eating out so much which is both bad for my bank balance and also my waistline. If anyone has any easy meals that can be made in advance, please share them with me.
3) Withdrawing My Money Less Frequently
Originally I was withdrawing my Paypal money whenever I got paid; $200 here, $300 here and so on. All the money went into my account and out of it just as quickly. I’m not really sure where it was going, but it went. So I adjusted my banking to only withdraw once a week and it’s made a big difference. I’d like to shift that to every two weeks and eventually monthly, so I can do a bulk move of money to my saving and spending accounts.
Drips and drabs are so easy to spend, but bigger chunks? Not so much.
4) I Bought a Coffee Machine
I bought a simple coffee machine, because I noticed I was drinking a lot of coffees out. Coffees in cafes here start at around $3 and go up a bit, when you’re having 2-3 of these a day, they’re simply not cheap. The mochas on my coffee machine run at about $1 a pop. Yes, they’re not nice as nice or as fancy as coffees out, but I can now go a few days in a row without stopping into a coffee and dropping $4 on a coffee, $5 on a snack and so on.
5) I have AMBITIOUS Saving Goals
Nothing gets me motivated like the ridiculous. If I set myself to save $100 a week, a small part of my income, I wont be that motivated. I’ve set myself a pretty hefty target for the end of the year and the fact the number is so big, is very inspiring. It’s helping me focus on it, and making me excited. Sometimes ambitious goals are easier to achieve than achievable goals. Their ridiculousness gives you momentum.
What are you doing to save money? Share your tips below.