Okay, graduating from college and living financially healthy can be hard. Entry levels jobs are not known for great pay and given that I am working in the travel industry, I can safely say that is the truth. Don't get me wrong, my job is great, the people I work with are amazing and the company is absolutely wonderful. My paychecks just aren't big. In this past year since graduation, I have tried so many different ways to put money aside without taking it back out of savings. My first recommendation is honestly, don't start saving right away. Live your life and figure out what you need to spend money on and what you don't. Make some dumb purchases on your credit card and learn to pay them off. Then start saving.
So here is what I have found that works and they are fairly easy:
- Save change, $1, and/or $5. If you never have cash on hand, this can be a little tricky. If you go to bars that have cover, this also can be a little tricky. But at least do the change then. Anytime I pay with cash and get change or a $1 back, it goes in my piggy bank. A little bit at a time seems like nothing when you are doing it so it doesn't hurt you. Months later when you go into your piggy bank, or wherever, you will be surprised by how much it adds up.
- Do a 52 Week Challenge. You see this all over Pinterest. The $1,000 one, the $5,000 one, or the $1,320 one.. whatever. Do one that fits your current budget and stick to it. This is a little harder than saving some spare change, but if you do it, you will be happy. I have mine set up in automatic payments. So I scheduled each week in advance so not only do I not have to remember to do it, I also can't talk myself out of it. I made one of my own up, feel free to use it!
- "Fake" live paycheck to paycheck. Alright, maybe you already do. I basically do too. But, even if going into the next paycheck you only have $10 in your bank account, transfer it to savings. Start each pay period with a clean slate, putting your "extra" money aside. The thing with this one though is that you do really need to look at your budget. Sometimes in one pay period I will have rent, utilities, and a phone bill due and that could potentially leave me with nothing or very little until I get paid again.
- Save your "cash back." This one only works if you have a credit card and if you have a credit card that does this. I have Chase Freedom and for every dollar spent on certain things I can get money back. During each monthly period they will update my cash back. If you have this and can do it, don't cash out. Don't use the cash back money towards your Amazon purchases (like I so often do). But save it. Let it build up.
And there are my easy ways to save. Please feel free to share any of yours!
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