Thursday, May 4, 2017

15 Simple (and 1 Spiritual) Way I Save/Make Extra Money Every Month


*Note: This post is merely advice that has worked for me. For more guided financial advice, speak with a financial advisor.

Who doesn't want to save more money? I know I do. Saving money can be a challenge, but with some practical and simple tools and ideas, it can become easier.

Here are the simple ways I save (and make) extra money each month.

- Creating a budget and sticking to it
Last year, I wrote about how budgeting was essential for knowing where your money goes. That is even truer today. Sitting down and comparing your income to your bills and even plotting out a certain amount for fun-fun is critical for maintaining a happy account. A budget tells your money where to go so that you don't end up wondering where it went.

- Avoid overages and late fees like the money sucking plagues they are

- Thinking of different items I want in terms of hours worked instead of how much they cost in dollars (because if I worked 5 hours to buy a pair of shoes or a bag, I had better need AND love them).

- Only buying what I need
Self. Explanatory.

- Staying up to date on my balances
Download your bank's app (most banks have them now) or set up phone or email alerts for different threshold changes in your accounts. That way you know when funds are low or if a little extra has come in.

- Set up an automated savings account
Slicing money out of your account once a week or pay period is an easy way to steadily build a savings account

- Use windfall cash to pay off debt or save
Any time a little extra cash comes in, I take at least half of it and put it into a savings account or pay down my credit card or student loans. It's not sexy, but it is responsible.

- Limit frivolous daily habits
You don't need to Uber everywhere. Walking is a great way to get to where you're going and its exercise. You don't need to have take out every day, you can pack your lunch or meal prep.

- Using financial trackers to follow my daily spending
My favorite right now is an app called Clarity Money. It tells me exactly how much of my money is leaving my accounts.

- Putting money in inconvenient to access places
Those 1 business day waits are blessings in disguise.

- Save (and invest) your spare change with Acorns
A little over one year has yielded me about $370. In. Just. Spare. Change! Sign up here to get easily started.

- Editing my closet constantly to prevent buying something I already have
Because how many off the shoulder tops in floral prints do I really need?

- Buying things second hand
(Especially bags. Check my post from yesterday on how to find your dream luxury bag for cheap) Literally 85% of the things I own have been purchased secondhand. And I am not talking crappy pieces either. I have steadily built a collection of luxury handbags, a shoe collection SJP would love,  and a grown and sexy closet by shopping at local thrifts and consignments. And if I can do it, you can too.

- Buying trendy items from reselling apps and sites
Right now, I am on the hunt for a few pieces and by now you know that I rarely pay full price for anything. Therefore, eBay and Poshmark have so become my friends.

- Selling things on reselling apps
Culling your wardrobe of pieces that no longer fit or that do not speak to the person that you are is vital not only for space (and not being a fashion hoarder

- Last but not least, I TITHE
For those who are unfamiliar with it, Tithing is giving the first 10% of your gross income to your local church. Now before you close out this blog post, hear me out. I cannot explain all of the intricacies or how it even makes sense; but I tithe off of EVERY penny I make. No, it is not a scheme. I believe in what He has promised in His word, especially about tithing.
Tithing honors God. Proverbs 3:9-10 says "Honor the Lord with your wealth and with the first fruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine."
Malachi 3:10 says "Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it." This is the only place in all of scripture where it is ok to test God. And I have tried him myself guys. There have been so many examples of where this has been so true in my own life, where God has blessed me with not just finances and material things, but opportunities, conversations, and blessings that I am unable to count. Giving God 10% may seem like a lot, but if you consider that He has given you the 100% and you keep the 90%, and when you trust Him with the direction and provision of your life, 10%really doesn't seem like so much.

What are some ways that you save cash? Drop me a comment below! Let's chat!