Super Smart Spring Saving Strategies, Part 2
Posted on March 23, 2009 10 Comments
Yesterday I posted the first in a series of tips on how to save smart during spring, the season that calls me to spend, spend, spend every year. Here are a few more strategies.
Tip 2. Put your friends on alert.
If you were trying to lose 10 lbs., you’d tell your girlfriends, right? You’d want them to know why you’ve suddenly gone vegan and are committed to running a 10K in two months. And you’d expect their full support.
Why shouldn’t savings goals be the same? The next time you’re out with friends, try this, “Ladies, I’m trying really hard to hit my savings goals this spring so I need to be extra budget conscious and I wanted you to know.” The point here is that you need them to stop pressuring you to go everywhere and do everything, and be supportive when you can’t. Once they know you’re on a budget, you might need to suggest cheap eats or free group activities (lazy day on the beach, anyone?); true friends will glady join you.
And lest you think this tip only applies to single gals – mommies, I’ve seen the admissions fees for amusement parks and they ain’t pretty. Get creative; sometimes a hike at the local state park fuels the imagination as much as a well-engineered roller coaster.
Tip 3. Do it automatically.
If you read my blog regularly, this should be burned into your brain by now: Pay yourself first. Use direct deposit to make sure your savings account and 401k get a portion of your salary before you ever see it. Spring or winter, this is always a smart strategy.
Tip 3. Travel frugally this spring.
Flights are cheap again! Surely that’s reason to celebrate. Unfortunately, many people won’t be able to take advantage of the low fares due to the economy. But if your wanderlust calls (and trust me, mine usually does during the spring), save some extra cash by cashing on a friend’s couch. You can read about my couch-crashing experience here.
Staycations are, of course, another option. But I find those don’t quite quench the thirst to travel. The point is to experience new things in new places, which is hard to do in your own ‘hood.
Tip 4. Coupon it up.
I recently heard that couponing web sites were the #1 fastest growing on the web last quarter. Makes sense, right? But coupons are for more than just groceries. I’ve noticed major retailers like REI, J.Crew and Anne Taylor Loft offering great discounts and incentives through coupons lately. To take advantage, be sure to visit your favorite store’s web site before you shop there, and also sign up for the mailing list and twitter feed.
Tip 5. Read everyone you can.
Let’s say you wanted to start training for a race. Wouldn’t you visit some well-respected running/swimming/biking sites to find a training schedule, information on injuries, nutrition tips and motivation information? Well, think of reaching your savings goals just like you might training your body to get in shape: You need coaching, and you need a lot of it.
I won’t pretend to have all the answers, but I think you can learn a lot during the rainy days this spring by reading some well-respected PF divas and dudes like Jean Chatzky , Suze Orman and Dave Ramsey, as well as financial web sites like Kiplinger.com and Money Magazine . Finally, be sure to check out my “Best PF Bloggers” to find other PF blogs to add to your reading list. Good, sound advice is really lurking around every corner if you know where to look. You can be a savvy saver in no time this spring.
Tip 6. Use your tax refund wisely.
I’m torn here. I know it’s best for the economy if we all go out and spend our tax refunds, but I also know there are some who can afford to spend and others who cannot. So on this topic, I will say: the majority of my readers probably need to save their cash right now. If you have bad debt, don’t have a savings cushion and have an unstable job, you probably shouldn’t spend your tax refund on frivolous things. If you have a savings cushion, though, and a stable job, do the rest of us a favor and buy a refrigerator or a new computer or something. (Just remember to use coupons and get your money’s worth.)
Tip 7. Pick up a hobby.
OK, this is also recycled territory for me. But what better time to pick up a cheap, healthy outdoor hobby than spring? If you’re running every day (or walking or biking or playing volleyball or whatever), you’re not spending money. It’s that simple. Let the warm weather inspire you to a better waistline and bottom line.
Tip 8. Visit America Saves.
Here’s another great resource with zillions of things I haven’t even considered.
Tip 9. Walk everywhere.
It’s nice outside, so save money on gas by walking to pick up your groceries, library books, kids from school and anywhere else within a mile or two.
Tip 10. (For renters…) Move!
Spring is the best time for moving, with a dearth of apartments open and the weather relatively accommodating. If you can’t find wiggle room in your budget, even after making serious changes, you may need to find cheaper rent. Check your local listings to see what apartments are going for now and how much you can save. I’ve heard from a few people that it’s a good time due to so many people trying to downgrade their homes and condos (and in need of renters).
Category: Money
Tags: Saving
Comments
10 Responses to “Super Smart Spring Saving Strategies, Part 2”
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March 23rd, 2009 @ 4:56 pm
This is an interesing blog article from the WSJ that could go along with Tip #10.
Enjoy!
http://blogs.wsj.com/wallet/2009/02/09/how-to-reduce-your-rent/
March 23rd, 2009 @ 11:47 pm
YES! Pumping out that 401k is my fav. thing to do e-v-e-r, thanks for including that
Reading as much as you can is also great, and something i’ve only just started doing since the creation of my blog! it’ll probably make your parents proud too when you have something legitimate to say instead of celebrity gossip. haha…or is that just me?
March 24th, 2009 @ 11:41 am
Your blog came up on my Google Reader recommendations list and i am so glad that it did – your posts are honest and informative.
Keep up the good work!
March 24th, 2009 @ 1:38 pm
stop trying to please other people – do your own thing – there comes a time when your finanial foundations are more important then spending 100 bucks at a bar etc just to “fit in”
March 31st, 2009 @ 11:08 pm
This is a great post. The fact is that we don’t “need” as many things as we think we do. Many of our”necessities” are really luxuries.
But some “luxuries” have become legitimate necessities.
For example, I held off on getting a cellphone for as long as I could. I didn’t want to be bothered when I was driving. And I didn’t want the expense!
But I learned that prepaid cellphones cost a lot less. Great article on that here.
And since payphones are disappearing, if you have any commute longer than a mile, you need to have a phone for emergencies… at the very least.
But I don’t text, take pictures or play games. I just want a good, reliable and inexpensive way to make and receive calls when I want to.
My Net10 phone is the way to go. I don’t need a blackerry or Iphone and don’t want to waste money but I was also able to dump my landline and my cost for phone service is MUCH less.
April 9th, 2009 @ 5:05 am
Greeting! What do you think of wow gold? I always lack of wow gold to buy some great item for my char before the wow patch 3.1 and I need to do wow power leveling for the cheapest wow gold or I have to search cheap wow gold on google search. The world changed since the 3.1 patch released. Short of buy wow gold for me wasn’t so high frequency now. And I’m curious why this situation happened? The items became cheap? Or we can farm wow gold much easy? Hope someone can give me an answer.
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January 18th, 2010 @ 2:12 am
I quit my contract cellphone and went prepaid and am saving tons!
I have Straight Talk. I previously had Verizon then switched to AT&T but the bills were CRAZY!.
When I heard about Straight Talk I couldn’t believe it but have had it now for 2 months and it is just sick! I’d heard that it was on Verizon and the coverage is rock steady, so yeah.
February 19th, 2011 @ 5:44 pm
The key is investing. It is important to have your money working hard for you instead of you working hard for your money. In order to do that you need a system in which you can invest your money on a regular basis. Investing day after day is the key. Most of us can’t figure out how to put two penny’s together let alone do it every day for the rest of our lives. The key is to plan for it. Here is how.
Go to the dollar store or any place that you can buy four piggy banks. Also buy some labels and mark them 1. Savings 2. Debt 3. Investing 4. Discretionary. Put the labels on the piggy banks and put the piggy banks in a place that you are going to see them every single day. You are going to place as much money equally in each piggy bank that you can each day for the rest of your life. Yes, it is a commitment, but becoming rich is a choice not a chance occurrence.
This is the hard part. You must put money into your piggy banks each day. The amount is not really important. The key is that at the end of every month, you take the money you have put in your piggy banks and use them for the intended purpose on your labels. Is it that easy? Yes it is. You may say … onenewvoice.blogspot.com