5 Ways to Save Money When You’re On a Budget

Saving money can be really hard. However, it is one of those goals that are attainable if you exercise self-discipline. Whatever you decide to save money for, you should first have a plan. This plan should include both your short and long-term saving goals. It should also include the amount of money you hope to save, your budget and anything else related to your goal of saving money. Saving money can be frustrating. My advice to you is don’t get discouraged while you’re trying to save money. A lot of times you might not get to save the desired amount you might want each month but you should never give up. I can tell you from experience that when I was trying to save money earlier this year a lot of times, I had to dip into my savings for a car emergency or to pay a bill. Back in April, I didn’t even put money into my savings account because I had to get new tires. It happens but the most important thing I did was never giving up.Saving Money

Eliminate Your Wants

This is probably one of the hardest things to do. However, it is essentially one of the most important things you can do to save money. Start by taking a good look at all the things you have in your life. By things, I mean the things that you can live without. For example, that Netflix subscription that is $9.99 a month, Stitch Fix subscription box, that is $20.00 a month or Apple Music subscription that is also $9.99 a month. Just imagine if you eliminated those expenses from your budget you can save roughly $40.00 per month. Don’t get me wrong we should at least keep some of our pleasures, however, we should be able to prioritize and know when we have to eliminate our wants in order to save money.

Set a budget

Another important tip for saving money is setting a budget. Setting up a budget can save you tons of money. Budgeting allows you to see your money and know where you want it go. It also allows you to set aside “pleasure money”. Budgeting also makes you disciplined about your spending habits. It’s also the quickest way to achieve your goals financially

Open/utilize your savings account

Another important tip for saving money is to open/use your savings account. When you’re saving money a savings account comes in very handy. Use your savings account to put away money you have either set aside after budgeting each money or to save money after you have eliminated your wants. When I was saving to move to Florida, I made a commitment to save at least $400-$500 a month. I did this by cutting out the things I didn’t need like going on shopping trips to Sephora and spending a ton of money at Sephora, I reduced the amount of take out food I bought, I cancelled subscription boxes and Netflix subscriptions (decided to share my sister’s account), and I cut out my daily Starbucks trips. It was really hard but in the end I saved a lot of money.

Avoid New Debt

Another important tip for saving money is to avoid new debt. When I say avoid new debt, I mean do not open any new credit cards and make sure you are paying your bills on time. It’s also important to spend money you actually have rather than putting it on a credit card. However, if you have to use your credit card make sure to pay off the balance in full on the due date. Your credit cards should only be used in times of emergency or in instances when you feel like it’s worth it. For example, those airline miles.

Use Coupons

One of my favorite ways to save money is couponing. It actually one of those things we girls on a budget live for. It makes me happy. Thank goodness for Groupon Coupons. This site literally saves me so much money and allows me to stay well within my budget. As I said earlier, you must always set aside money each month for either emergencies or pleasure. However, I have to confess that since I don’t really have much emergencies, the money I set aside either goes to shopping for little odd things, goes into my savings account or I sometimes never end up spending it. I recently found out that Groupon has an entire separate website dedicated to coupons. How amazing is that? Groupon Coupons has partnered with stores like Nike, Kohl’s, Bloomingdales, Sak’s Fifth Avenue, Sephora and a ton of other stores to bring you amazing deals. Ladies if you’re on a budget and love to shop like I do but still save money Groupon Coupons is the way to go. Honestly, I never shop online or in stores without a coupon.

Let Talk About Saving Money

  • Are you currently trying to save money?
  • What are some of your tips for saving money?
  • Have you every used Groupon Coupons?
  • What is that one thing you are currently saving your money for?
This post was sponsored by Groupon Coupons. However, all opinions are my own. 
  • I’m so big on couponing- I’ll rarely buy anything not on sale!

  • I’m so big on couponing- I’ll rarely buy anything not on sale!

  • Great tips! I really need to work on setting up a savings account, I feel like it would really help

    La Belle Sirene

  • Great tips! I really need to work on setting up a savings account, I feel like it would really help

    La Belle Sirene

  • Greta Hollar

    These are great tips! My husband and I save money to travel and we do all of these tips as well as never eating out and finding free events in the city!

    Greta | http://www.gretahollar.com

  • Greta Hollar

    These are great tips! My husband and I save money to travel and we do all of these tips as well as never eating out and finding free events in the city!

    Greta | http://www.gretahollar.com

  • Awesome post– after shopping a few sales and my upcoming trip next week, I so need to curb my spending. I’ll definitely be using some of these tips.

  • Great tips! Eliminating wants goes a long way! For me cutting out daily starbucks trips saves me $100 a month!

    HashtagFabLife

  • Great suggestions! Avoiding new debt is a huge one. Right when I graudated, my job wasn’t the highest paying obviously – so I had to stick to a really strict budget for TWO YEARS. After building up my resume, I was able to move to a company that paid me at the industry standard, but I am thankful for those first two years. I still apply my way of ..almost ‘penny pinching’ now. I’ve always been taught to keep your expenses low, even if your income grows. Avoiding new debt is huge!

  • Michelle Mink

    I am very money conscious as I am saving as much as I can for opening my own business. I think setting a budget is such an important thing to do because it can be so tempting to live above your means.

  • mQs

    Getting rid of warns are definitely hard.

  • Such great tips! I used to make fun of my parents for always using coupons, and now I love clipping them. It makes such a difference!

  • Sara Kate Steadman

    So true!! Saving is everything. Any time I put something in savings I pretend it doesn’t exist and it really helps me build up those accounts.

    xo,
    Sara Kate Styling

  • The idea of budgeting can feel so constricting, but in reality, when you set aside a certain amount of money for a particular necessity, it is quite freeing because it eliminates so much frustration and worrying.

  • I live and die by my budget! I write down literally every expense .. it has definitely kept me on track the last 5 years!

    -Morgan
    How 2 Wear It [] http://how2wearit.com