I’m pretty sure many of you find this amusing that I’m making a post like this but I figured it would be something helpful and hopefully gives some of you motivation to save money. I’m one of those girls who loves retail therapy and I will spend for the most stupidest reasons. Two examples I do at-least once a week is: 1) I don’t like what I’m having for lunch and I want fresh, hot food so I will order out. 2) I am sad/stressed/upset and I need to buy something to cheer myself up. Do these examples apply to you or you can relate? Let a girl know.

I think what is important is to not restrict ourselves because that will create more resistance and temptation later on. There should be a focus on an objective of some sort, whether it’s a handbag you wanted for so long, a property, vacation or etc. You should start off with an objective and it should be something you are passionate about, not something you want for temporary because we tend to lose track of the goal if it is.

Tip #1: Have a piggy bank

I always put my loose change, 5 dollar bills and lucky pocket money in my piggy bank. I got my piggy bank last year and he’s become very heavy now. I was tempted to open him up quite a handful of times but I quickly stopped myself because my objective is to fill him so full, that I can no longer put anything more in him then I will open him up and cash him at the bank. You will notice a significant difference how much a piggy bank can change your saving game. Cashing in hundreds, maybe even thousands of bucks?! How rewarding does that sound?

Tip #2: Skip out on buying coffee and make your own coffee at home

Wake up earlier in the morning and prepare yourself some coffee. Buying coffee every morning before work does add up. Think about it…

Let’s say you get 1 large cup of coffee every morning on a weekday…
$5 x 5 days = $25
For 1 month (30 days length) without weekends:
$5 x 22 days = $110
For 1 year (365 days length) without weekends:
$5 x 283 = $1415
That’s A LOT of money!

Currently minimum wage in Ontario is $14-$15
$14 x 80 work hours = $1120
$15 x 80 work hours = $1200
^ These are BEFORE deductions. Usually when you hit the 1k mark, you get deducted about 200 dollars per pay cheque.

We don’t realize the damage we are doing to our wallets when we buy little things here and there. I am an avid coffee drinker, I feel a significant difference in my overall behavior and awareness with and without it. I am gradually teaching myself to build tolerance to live without coffee. Some days I will give in and buy but I came from buying coffee every single day to drinking coffee maybe.. once or a twice a week?

Tip #3: Have a budget

Again, going back to what I said about restricting yourself. Never restrict yourself but make sure to budget your money out wisely.
Here is an example:
Say you make 3K a month and live away from your parents…
You spend (every month)…

$200 on groceries
$60 on phone bill
$80 for utilities
$50 internet bill
$150 for bus fare/gas
$200 on misc lunch/dinner occasions
$1200 for rent

What you have left…
$1060

Varying how big your objective is and how close you want to get to close to it. The remaining money you have left per month, you should at-least try to save 50%-60% of it. Have a Tax-Free Saving Account and just continuously save each month and you will start to notice the numbers growing bigger and bigger.

That is all for today, friends.
If you’re interested in more tips, please feel free to reach out to me and let me know you’re interested in these kinds of posts.