Since I was younger, my parents instilled in me the knowledge that saving money is possible at any age. I had trips I wanted to go on and things I wanted to do – but I had to earn my fair share of the bill. Since then, I have always had a knack for saving money. I am by no means a frugal person – my closet can attest to that. However, I’ve found some ways that I can spend comfortably while also creating a savings fund for immediate or future use.

1. 1. Save a percentage of each paycheck and don’t allow your checking to reach below a certain number.

      This is simply just a budgeting trick I have used even prior to having a full-time job. Each paycheck I would give myself a percentage that I should save. Even if it was $20, I had that as a buffer if I needed it. Also, each time I would get paid I would force myself to keep my checking amount above a certain amount. If I was only making $300 each paycheck, then I would keep my limit at $100, etc. It’s something that ebbs and flows, and changes with my paychecks and life – but it’s something that has saved me from never over drafting and always knowing I have SOME money in the bank.

   2. Stick to cash – but have a cash back credit card to earn cash back on purchases.

      My parents are HUGE Dave Ramsey people. Building credit can be important especially if you’re my age and big changes are on the horizon. However, debt is nothing to just brush aside. One of the key concepts of Dave Ramsey is to utilize cash whenever you can. Avoid cards. If you see the physical money in your hands you are less likely to spend it. In addition, he is very anti-credit card. I can agree with this – but I do have one SIMPLY for the cash back and building credit. I have the Chase Freedom Unlimited Card that gives 1.5% cash back on purchases. A big plus was that when I signed up and spent a certain amount within a few months, I got a $150 bonus. So if you don’t yet have a credit card and are looking – look for a sign-up bonus AND cash back. I have a low credit limit and I never even allow my balance to get to a fraction of what the limit is, as well as pay it off immediately or at the end of the week. I never spend more than what I know I will have. I know I have rent coming up? Set that aside or schedule the payment when you have the money. That way you get the cash back, pay off the bill or make the purchase, and save your credit. This is really a what works best for you sort of situation, but it’s important to know that cash back credit cards are out there. I would never suggest opening store cards or having more than one card as that extra temptation can be harmful.

   3. Utilize Ebates

      Ebates gives cash back from 1% up to however much the store allows per purchase. All you have to do is click through ebates any time you are shopping online. Places like Amazon, Old Navy, Nordstrom, etc. are on there. Since I joined I have gotten over $200 in cashback. Essentially, you accumulate the cash back over a few months and then 4 times a year you either get what they call a ‘Big Fat Check’ or it can be direct deposit into your Paypal. They’ve even made it easier because you can install a plugin for your browser that will pop up and activate ebates if you forget to click-through the site. They’ve also even added a new little feature that will search for coupons and apply them. I promise – it’s not a scam nor is it annoying. It’s just another service to get money back when you’re already spending money at these stores.

      

   4. Sell on Poshmark, Mercari, eBay

      I recently just listed 5-6 items on Poshmark and within a week I had made $100. I use Poshmark specifically because of the convenience. I clean out my closet or shoe storage, snap a few photos, and list it. The only downside is the percentage that Poshmark takes from each sale. It can be a real downer when you sell an item for $20 and you only end up with $12. However – convenience and safety are key. The other great thing is that all you have to do to ship the item is download the shipping label that is automatically generated and paid for by the purchaser. There are some fancier things you can do like bundle items to offer discounts, buy and sell wholesale, and attend parties. But my number one goal is simply to sell and buy items for a discount. You don’t have to sell online even, check your local thrift stores and places like Plato’s Closet. They will buy back certain items if they are in season and on trend. Be warned though, you will not make much and are better off taking the time to list the items yourself.

      P.S. If you sign up using my code: BTEKL you get a free $5. Holla!

      

   5. Shop smart – don’t pay full price.

      If a store is already discounted, even better. One of my favorite places to do this is Jane. Granted, the convenience and the 80% deals have probably made me buy things I didn’t necessarily need – but I was saving money on those purchases! (AND gaining double cash back by clicking through ebates AND utilizing my cash back credit card.) I will a whole post about Jane and all the great deals I have gotten later.

      

   6. Search for new opportunities that pay.

      Not everyone works in an industry that allows for continual education, however there are a lot of designations, licenses, and certificates out there that your current company may pay for you to get – both the testing portion and a reward when completed. Within the insurance industry where I work, designations are a hot topic. By taking 3 exams over a period of a year I was able to get a bonus for each exam passed as well as for completing the designation. (Look into 401k matching too, it’s boring buy free money!) It took a little extra time, but the extra money was worth it and in the long run I have more knowledge and something to add to my resume. Even if your current industry or position doesn’t have a program like this – ask or search out other industries. Really like the concept of SEO optimization but work in the healthcare industry? Who cares? Learn that skill and find yourself some clients. This way, you earn some extra income while practicing some sort of hobby.

In the end, saving money is hard and will not happen over night. Small changes can make a huge difference in your financial stability and long-term mental state. Be smart and do your research, because at the end of the day, you will make mistakes. As long as you’ve taken the time to have a backup plan or found some sort of stability elsewhere.

Have financial questions for me? Questions about anything I’ve mentioned above? Let me know – I’m here to help.