7 Easy Ways to Save Money

A few years ago, I never would have dreamed that I would write a blog about saving money. I may not have been the best with my finances in the past, but being consistent over the last two years has helped me pay off three credit cards, car, and several smaller debts. I still have a long way to go before I have my goal credit score, but I’m well on my way! 

The main reason why I decided to focus on paying off my debts was that my spiritual director told me to. She said that no matter what I chose to do with my life (get married, join a religious order, or stay single), I would need to pay off my debts. 

After going on a vocations retreat and discerning that religious life wasn’t what God was calling me to do, I took to heart the last piece of advice that Sister Faustina (vocation directress of the retreat). She said, “No matter what vocation you feel drawn to, take a step toward that vocation after you leave.”

With that being said, I focused my attention on what I could control, which is my finances.

For years I made the excuse that I didn’t make enough money to pay off my debts; however, once I sat down and realized that I made plenty of money and just needed to make a plan of attack and execute the plan, it all made sense. 

I still have a long way to go before I have all of my debts to pay off, but when I realized that I was getting close to paying off three of the credit cards that I’ve had for years, the feeling was overwhelming! I felt so much pride that it became addicting. Here are a few tips that have helped me get started on my way to financial peace.

1. Write down your goals.

Writing down my financial goals was a game-changer. It provided me with a focus and helped me to understand that the only one who could change the situation that I was in was me. Write your goals down and post them in an area that you’ll see every day. I’ve posted my goals on my t.v. to always have my financial goals in sight.

2. Educate yourself.

 It’s sad to say, but most of us didn’t receive the greatest education on personal finances. I don’t understand why this isn’t a requirement for students in school, but it should be. If you’re serious about getting your finances in order, then you’ll have to educate yourself by reading financial books or attending a class. Pinterest is another excellent resource for finding helpful tips to help pay off debts. I highly recommend using the snowball debt repayment system. This helped me to feel less overwhelmed and feel empowered by paying smaller debts first. This is how I paid off my first three credit cards and will continue to do so until I pay everything off.

3. Create a budget.

Whenever I hear the word budget, I cringe. It just sounds confining and no room for flexibility; however, this isn’t true. Creating a budget will help you reach your goals and be adjusted to include the things you love most. I’ve tried many different budgets, but I like Dave Ramsey’s EveryDollar Budget app. It’s nice because you take your monthly budget and divide the budget as you wish until every dollar is used. The great thing about this budget is that your able to see where your money is going. On payday, you go to the bank and pull out the amount you’ll need to pay for groceries, gas, and any other expenses you’ll need to use cash for until the next payday. I recently started using the system, and so far, I love it! I find that I have more than enough money to get what I need. The great thing is that you can adjust your budget if you need to. If you find that your budget is tight for food, you’ll adjust your budget to accommodate your grocery budget.

4. Live like a college student.

The worst thing you can do is live outside of your means even if your income increases and live off the bare minimum.

5. Any extra money that you receive goes into savings. 

This is one that I’m still struggling with. It’s so tempting to use your tax return or reimbursement money towards dinner or a fancy new toy, but fight that feeling! Put that extra money away for savings for those rainy day emergencies. You’ll have more confidence knowing that you have money saved up and not worry about borrowing money or using your credit card.

6. Pay off your car and drive it till it dies. 

 Don’t be an idiot and get a new car every few years. Drive your car until it dies! It’s worth saving the extra money that you save on a car payment and save it for the time when you really need a new car. If you do regular maintenance on your vehicle and have a reliable vehicle, you should be fine. I just recently paid off my car, and one of my sisters suggested that I trade it in. I said hell no! I’ll save up money until I need to get a car, and then I will buy a reliable used car with cash.

7. Pay off your credit cards and cut them up. 

That’s right! Cut those stupid credit cards up! The myth that everyone needs to have credit cards is bs! Credit cards are the devil! Okay, I’m a bit dramatic, but credit cards aren’t good, and you don’t need credit cards for your credit history. Debit cards work just as well and can be used for car rentals, online payments, and hotel reservations. Just make sure always to be focused on saving and getting your debt paid off as soon as you can. Credit cards are too tempting for me, so I cut all mine up years ago. If you use a debit card, remember to press credit when you buy something to have the same protection as a regular credit card.

Don’t let anyone talk you out of getting your financial situation in line. You can do it! Do it for your future, for your peace of mind, and your well-being!