If you do the math, you’ll discover that if you find many small ways to save money, over time it can add up to big bucks. Why then do most people, when they work to save money, never see the results of their thrift?
The answer is simple: they spend all the money they have saved, without even thinking about it. That alone is bad enough, but here’s what happens next.
After working hard to be thrifty for some weeks and never seeing the fruits of their efforts, they give up on the idea altogether, forget about trying to find ways to save money and return to their old habits. They’re really just throwing away what would be free money.
Have you found yourself in that situation? Do you think that saving a dollar or two here and there isn’t worth the bother?
What’s needed is a way to make these small savings become real in our lives, and here’s how to do it.
Keep an envelope in your car and a jar in your home to stash away the money you save by shopping for the lowest prices, using coupons or not buying something you’d like to have, but know that you don’t really need.
For example, when you use coupons or a grocery card your receipt will tell you how much you saved. Take that amount of money and tuck it away in an envelope or jar labelled “My Savings.”
I recently shared with you one of my favorite ways to save money: how to save about 25 cents on every serving of popcorn you eat at home. When you enjoy popcorn by popping it yourself, rather than tossing a bag in the microwave, drop 25 cents into a jar.
Within a couple of weeks you’ll have set aside a pretty good chunk of money. Now you’ll see that your thrifty discipline is paying off and you’ll be motivated to keep up or even increase your efforts.
What you do with the money you’ve saved is your choice. If you have credit card debt, use it to pay down your balance. If you don’t have a savings account, open one up. When you think about it, every deposit you make will be essentially free money.
Start using this trick and it will be one of the best tips on saving that you’ll ever receive.