25 Ways To Save Money And Feel Good About It

We have different attitudes about saving money depending on our background, current financial situation and our psychological makeup regarding self-control, fear of economic uncertainty, and pessimistic-optimistic outlook.

Someone with modest means often knows better where their dollars are coming from and going as compared to those from affluent means. A 1% annual increase in your savings rate invested wisely at an early age is likely to be a significant nest egg 40 years hence.

Anyone recall saving at a young age in a bank account? I do. My classmates and I were encouraged to bring in a few dollars to save every month. This was an educational project between Dollar Savings Bank and our Bronx elementary school sanctioned by parents.

How can we save more money?

1. Brown bag your lunch for work. It’s cheaper and healthier. The alternative can cost $50/week and $2600 per year. With these savings you can pick your spots for eating out with friends and family.

2. Use your local library for books rather than buying books for Kindle or your shelves. I have always loved reading and have spent a big part of my free time reading and writing reviews on Goodreads.

3. Don’t buy music if you have Amazon Prime (we are huge fans). We also use the free versions of Spotify and Pandora.

4. When you vacation, strongly comparison shop for low airfares and try Airbnb. Depending on the location, Airbnb is a great way to save money when travelling with kids and one hotel room is simply not going to cut it.

5. No more plastic bottled water. Use tap water instead. Although improved, not all plastic bottles are fully BPA-free plastic. The bottled water doesn’t stay cold long and gets suspicious bubbles.

6. Stop drinking carbonated water and soda, especially in restaurants. These are high margin items for them but not healthy for us and certainly relatively expensive.

7. Cut out some of the lattes. During my years going to law school as an adult, when we had young babies at home, I literally lived, drank lattes and ate meals at Starbucks for the 8-9 months of school plus studying for the bar.

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