Start saving money – just the thought may be totally overwhelming to you.”I’m already in debt, how can I save anything?” or “Where do I get even a little money to put away?” may be some of the first questions that come to your mind. It is actually possible, really possible, for anyone to get that first deposit to start a savings account.Here are some ways to begin:
1. Have a yard sale. You may already shop at them, so why not have one? Everyone has excess junk, clothes that don’t fit them anymore, or toys they no longer use to get rid of. Instead of taking a trip to the donation center, try having a yard sale. I know of people who make hundreds of dollars on their used stuff. Even if you only make $50 or $100, it’s a start on a savings account.
2. Sell on Craigslist. If you have bigger items (a refrigerator that still works, a kids' swingset, a winter coat) that you could part with, list them on Craigslist. You will be emailed by potential buyers who will come to your house to pick up the items and give you the cash. Personally, I like to have my husband home if someone is coming to the house for safety’s sake, so please keep your own safety in mind also.Sell on Craigslist
3. Raise your deductible on your car insurance. If you have an older car, it might be worth it to raise your deductible and save a few hundred dollars a year.
4. Use your own bank’s ATM. This seems like a little thing, but can really add up. If you are using an ATM that charges you $2.00 once a week, and you switch to a free ATM, this adds up to a savings of over $100 a year.
4. Use your own bank’s ATM. This seems like a little thing, but can really add up. If you are using an ATM that charges you $2.00 once a week, and you switch to a free ATM, this adds up to a savings of over $100 a year.
5. Learn to do more things yourself. Try coloring your own hair, cutting your husband’s hair, or waxing your own eyebrows. There are lots of sites online that can help you save money by learning to do things yourself that you would normally pay a professional to do. The potential savings per year can be in the hundreds of dollars--a great way to start saving money.
6. Wash your own car. Washing your car is not that hard, and your kids can help you do it (Translation: fun family activity!). Think of the savings per year: $5.00 a month minimum, 12 months a year = at least $60 a year to save!
7. Rent a video instead of going to the movies. Movies cost $7.50 per person where I live. So, a family of four is going to pay $30 just for the tickets. Popcorn adds in another $5-10. Total cost is around $40. Renting a movie from the local video store will cost you $4.00 plus the cost of a bag or two of microwave popcorn and a soda.
8. Make your own coffee to take to work. Two Starbucks coffees will cost you more than a bag of coffee at the grocery store. A bag of coffee will last you for a couple of weeks.
6. Wash your own car. Washing your car is not that hard, and your kids can help you do it (Translation: fun family activity!). Think of the savings per year: $5.00 a month minimum, 12 months a year = at least $60 a year to save!
7. Rent a video instead of going to the movies. Movies cost $7.50 per person where I live. So, a family of four is going to pay $30 just for the tickets. Popcorn adds in another $5-10. Total cost is around $40. Renting a movie from the local video store will cost you $4.00 plus the cost of a bag or two of microwave popcorn and a soda.
8. Make your own coffee to take to work. Two Starbucks coffees will cost you more than a bag of coffee at the grocery store. A bag of coffee will last you for a couple of weeks.
These are just a few creative ways to start saving money. Open a savings account, try some of these ideas, and you are on your way to a future of debt free living. Your children will learn about saving money also—so set the example now!
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