2020 has been a year of learnings and realizations for many of us, especially in terms of money. At this point, we now realized the importance of saving, having an Emergency Fund, investing money, and even looking for a side job to help make ends meet.
But let’s face it: no matter how much you try to adjust, earning seems extra challenging and bills never stop from coming. This is why you constantly have to look for ways to boost your savings for the rainy days.
What do you do?
Instead of “forcing” it, there are creative ways that will help you save money without realizing it. This includes:
Try Money Challenges – And Stick To It!
You read about the 52-week money challenge, No Spend Weekends challenge, envelope challenge, and the list goes on. Regardless of what you chose, the point of these challenges is to help you save as much as you can throughout the year.
Find a money challenge that suits you and your family well, and make sure to stick to it. You will be surprised to find out how much money you saved come December 31.
Make Saving A Game
Who doesn’t love games? The idea of winning something can be thrilling so instead of feeling forced to set aside a portion of your earnings for savings, why not turn it into a game?
Give each member their own jars where they can put loose coins, cash gift from relatives, or money earned from their side job. By the end of the year, whoever gets the highest savings amount will get a prize like money doubled.
The point is make it a competition, but in a healthy way. Kids like the idea that someone can be a winner, which could encourage them more to be more mindful with their spending.
Save The Coins
Who likes coins? Although there is a value in it, coins can be too heavy on the pocket.
Stash them in a jar and every time you get coins, put them in there. You wouldn’t notice how much it’s worth until you decide to open it. Whatever is saved, you can use it to pay for bills, loan, or even save them in the bank. Again, you’ll never know what will happen, so it’s better to be safe.
Choose A Less Accessible Bank
Sometimes, it’s tempting to withdraw money because the bank is just few meters away. There are also tons of ATMs around, which means you can get money easily. Although accessibility is a good thing, sometimes, it’s a curse especially if you always feel the urge to withdraw.
That being said, consider going for banks that are stable yet have fewer locations. Instead of opening an account in a bank that is five minutes away, choose a bank that is stable but less accessible to you. When you add inconvenience in the equation, there is a tendency that you’ll feel lazy to withdraw money.
Look For Money Hiding Spots
Have you ever experienced hiding, say P1,000 bill, under your clothes and then find out about it a month or two later?
You can do that only this time, make a list of where you will hide your money. This way, you won’t forget where you hid it and be able to use it in case of emergency.
Stay In During The Weekends
Weekends are normally family time, which means there is an excuse to spend. But if you are serious about saving, then don’t equate weekends with spending.
There are fun ways you can do as a family without spending too much. You can enjoy a walk outside, work out as a family, repaint or redecorate the house, start your own vegetable garden, make your own meals and then have a movie night, and the list goes on. The point is be creative and imaginative without spending too much.
Got creative ideas on how you can save money? Let us know in the comments below!