Barbara Friedberg* lists seven methods of saving that can keep more money in your pocket.
Saving is one of the most challenging aspects of ‘adulting’.
While most people want to save, only a few accomplish it.
For those who do, the results of saving are life-changing.
Look at saving money through a unique lens.
Replace the ‘money’ reference with ‘freedom’.
The more money you save, the more freedom you have in your future life.
Here are the top seven unique ways to save money and achieve financial freedom:
Divvy Up Your Pay
Adjust your thinking about your pay. It’s your path to freedom.
Divide it between your chequing, savings and investment accounts.
Spend what’s in your cheque account. Savings is for emergencies.
The investment account is for mid-term goals and investing in the financial markets.
This unique saving strategy tackles all your financial goals bit-by-bit, with each payday.
Shop on Wednesdays Alone
Businesses take advantage of the high volume of customers during weekends, so discounts occur in midweek.
There is also a high probability of shopping alone during the midweek because family members or friends usually get together on weekends.
The bonus of shopping alone: You are less likely to give into impulse buying as compared to when you’re with others.
Be a Smart Buyer
When feeling the urge to buy something, count 30 days.
If after that, if it’s still worth buying, go for it.
This 30-day leeway protects people from giving in to the urge of purchasing something at first sight.
Most likely, if it no longer appears purchase-worthy after 30 days, it is not that essential.
If you can’t wait 30 days, try a week.
If you can’t wait a week, try 24 hours.
At the Cash Register and Beyond
When paying at the counter, eyes on the cashier.
Small items near the checkout, like mini chocolates, are meant to be the final temptation for consumers.
They’re tempting and expensive.
Avoid the urge to buy.
Once done purchasing, save up spare change.
Randomly put those coins or small bills in bag pockets and transfer them to a jar, at home.
Periodically deposit the coins into your savings account.
Those forgotten cents add up to real money.
Use Credit-Debit Cards
Use credit cards as pass-through mechanisms for purchases.
Meaning, purchase using the credit card then pay the bill weekly or bi-weekly, instead of monthly.
Use your credit card like a debit card.
Purchase only when you have enough cash for the purchase.
Then you won’t risk paying credit card interest.
Take Care of Yourself
This is the most important unique way to save money — maintain a healthy lifestyle.
By eating well, exercising and getting enough rest, you’ll cut down on sickness and the additional costs that come with it.
Try an affordable fitness tracker and be aware of your steps.
It makes fitting in exercise breaks really easy.
Try meatless Mondays and go for veggie meals.
It’s amazing how much a veggie burger resembles a hamburger.
For household appliances, choose energy-saving ones.
They’re cheaper, protect the environment and your family.
Be creative with leftovers and throw them into casseroles and soups.
Drink water. It’s cheaper and healthier.
Use unique ways to save for financial freedom.
It’s a matter of choosing the right alternatives for saving.
Savings and financial freedom are defined by every choice you make.
It’s difficult to start, but once you get in the saving habit, it gets easier.
Before long, you’ll discover your own unique saving strategies.
* Barbara Friedberg heads Barbara Friedberg Personal Finance at barbarafriedbergpersonalfinance.com.
This article first appeared on barbarafriedbergpersonalfinance.com.
