“Furthermore, as for every man to whom God has given riches and wealth, He has also empowered him to eat from them and to receive his reward and rejoice in his labor; this is the gift of God.” (Ecclesiastes 5:19)
It is a privilege to create wealth and for that we should be very thankful. Whether we do work that we enjoy or work that we despise (and if you do despise it then I suggest you reconsider what you do for a living), we exchanged our time for that income. We ought to use our money wisely then. Here are a few tips on how you can save more money.
Now this might seem strange to you right. You might be asking, “a better way to manage my money is to tithe?” Well, yes. In Malachi 3 God says to not rob Him of His tithes and offerings.
8 “Will a mere mortal rob God? Yet you rob me. “But you ask, ‘How are we robbing you?’ “In tithes and offerings. 9 You are under a curse—your whole nation—because you are robbing me. 10 Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it.
God is the one who blessed us with the time and ability to use our skills and knowledge to create wealth. We ought to give Him back what is rightfully His. I think it’s a small price to pay compared to the endless provisions He bestows upon us daily.
2. Make a budget.
Make a note of how much money you earn and all your expenses. You would do this budget weekly, biweekly, monthly, basically whenever you get paid. Based on what your salary is and what date your bills are due, allocate your income accordingly. Remember to put some away as savings.
3. Write out a meal plan and make your grocery list accordingly.
You need to eat and food costs money. A lot! To avoid overspending, make a meal plan for majority, if not all, of your meals. Afterward, make a list of all the ingredients you will need for each meal on your meal plan. Stick to your list! You can go as far as estimating how much each ingredient may cost as to have an idea of what your total bill may be. This will help you ensure that you stick within the budget you allocated for food.
4. Save every $5 bill you come across.
This is a cool way to save money. Every $5 you come across is automatically off limits. If you buy something for $2 and pay with ten, you get back $8 right. If you get a $5 bill, it goes into the jar. You can opt for putting it in a jar and banking it every month. This pool of money is not to be spent unless there is an emergency. My only exception for taking money out of a jar like this is for transportation services. You can make your one exceptional rule but it has to be a use it or suffer situation.
5. Know and respect your spending limits: Do not buy what you don’t need.
Just don’t. Go home and think it over for a day or two. Really evaluate if you need the item or not. Notice I said need and not want. You have to practice discipline. Don’t mess up your budget. Have respect for your time and energy that you put in to earn this money. If it is not in the budget then you have no business buying it. It’s as simple as that.
6. Try to do it yourself before paying for it.
D.I.Y baby! There are many articles and other free resources that you can use for guidance to hand craft a meal or project that would often cost you twice as much if you were to purchase it ready made. Give it a try. Not only will you save some money, but you will learn new tips, tricks, skills, and you never know how handy these can be in the future. Some ideas are to do your own hair, nails, and even plant your own herbs.
7. Don’t make all your money accessible at once.
Don’t get scared, it’s okay. Have a plan in place in the event that there is an emergency but otherwise your money should not be accessible to you all at once. One way in which you can accomplish this is by creating a fixed deposit account that you can transfer money over to from your checking account. Another way is to have a savings account that you do not have a debit card for. In doing this, you have more time to think about the purchases you desire to make and if it is worth going through the hassle of accessing those accounts to get some additional cash.
8. Take advantage of reward/cash back programs.
If you’re going to be spending your money you might as well gain some benefits. Majority of the stores and supermarkets that you purchase from have some sort of reward programs. Take advantage of these and earn back on your money.
9. Cut back on the bills.
There are so many ways in which you can do this and one way is to not have the bill at all! The first bill I’d recommend you cutting back on is your credit cards. Granted they do come in handy at times but wouldn’t you rather only spending the money you do have and not worry about paying someone back? This only adds to your liability and make you more stressed knowing you have an additional bill to pay. Another way is to cancel subscriptions or services that you do not use.
10. Shop around and shop smartly.
You don’t have to visit all the stores at once now. However, a simple way to do this is by shopping at one supermarket this week and at another the next. Then, compare your receipts to see if one is more expensive than the other. One supermarket may sell meats cheaper while the other sells produce very reasonable compared to the other. With this knowledge you can make wiser spending decisions and get more for less.
There are many more tips and tricks that you can utilize to save money, such as:
- Eating out less.
- Using coupons.
- Having a no spend weekend.
- Shopping in bulk.
I hope you incorporate a few of these tips for the next pay cycle, if you aren’t doing any as yet. They are super simple, easy to follow, and are a sure-fire way to save some money.
In need of a budget sheet? Check out this post for a free budgeting printable!