{Being Budget-Friendly}

Since I’m able to save more right now, I try to be mindful of spending and maximize my savings, and I’ve had time to work on a budget as well. I swear by mint.com for tracking my spending and making a good budget! For someone who loves to shop as much as I do, I think I’ve done decently with managing my money. Here are a few money-saving steps that I have taken or plan to take:

{1} Cleaned out my closet. I just did this recently, because soon I’ll be moving into a (much smaller) house/apartment with my soon-to-be husband and won’t have as much room…aka, we’ll be sharing closet-space (yikes!). I tend to hang on to clothing, shoes, and handbags because I might “want to wear them again” but probably never will. Since I prefer quality over quantity, many of the items in my closet are nicer and actually worth selling, so that’s what I’ve started doing more of. I list things on eBay from time to time, and I’ve had some good luck with it. I may not be selling the items for nearly as much as I paid, but it’s better than nothing. And nothing is what I’d get if I let this stuff sit in my closet and collect dust. 

{2} Cut back on Starbucks. This is a new goal, and its going to be a challenge. I’m a little bit ashamed to admit that M and I both went to Starbucks every. single. morning. for the past several months. It’s kind of a “bribe” and a pleasant way to start the day after an hour-long + commute every morning. However, it adds up. We figured that we’d spend over $2,000 a year if we both continued to visit Starbucks every morning. I think a lot of us go to Starbucks and think, “Oh, I’ll just get an iced coffee…it’s one of the cheapest items on the menu and it’s only $2.50, etc.”…that was my rationale. But that $2.50 every single day adds up quickly. I refuse to quit Starbucks completely, because I do enjoy it and quite frankly, life is boring if you always deprive yourself. However, I think 1-3 times per week is much more reasonable than 7 days per week! I noticed that I didn’t even really crave Starbucks iced coffee when we were going every single day, it just was a habit more than anything. So maybe this way it’ll be more of a reward and I’ll enjoy it more by going less frequently. 

{3} Open a savings account. If you have a bank account, which obviously most of us do….you can open a savings account (and manage it online). I try to save as much as possible, and I transfer the money as soon as I get paid. Right now, I’m able to put 25% of every paycheck into my savings account, and sometimes even more than that. Financial experts recommend saving at least 10%, which is still substantial over time. I’m just trying to save as much as possible while I have the smallest amount of expenses that I’ll probably ever have. 

{4} When you want to shop, spend wisely. I used to be guilty of buying clothes, shoes, and handbags…and then some of them would sit in my closet with the tags still attached. I’ve gotten much better about thinking critically about every purchase I make, and making sure I really want it before I buy it. That means no more impulsive decisions. I will literally stand in a store with an item in my hand and rack my brain to make sure I really need it or that it will pair well with items in my wardrobe. If it’s something I might wear once, I will probably put it back. And I don’t buy something just because it’s on sale (I used to be very guilty of this!). I went into Ann Taylor LOFT recently and tried on a pair of dark wash flares that were on sale for $20. Sure, $20 is a great deal for denim. I tried them on, liked them, and thought I “needed” a pair of dark wash flares because they would be a good dressy casual piece to add to my wardrobe. As I was standing in line to pay for them, I suddenly realized that I actually have a pair of nice, dark wash designer flares that I ordered from Hautelook…and I promptly put the jeans back on the rack. I did this because I could think of several uses for that extra $20 instead of buying a pair of jeans that were so similar to a pair I already had. I try to stick to purchasing wardrobe staples that can be worn multiple ways to create a variety of outfits. I’d rather buy a pair of light wash jeans or a pencil skirt, for example, to add new items to my wardrobe without duplicating anything in my closet. 

{5} Another shopping principle: if you love designer clothing (like I do), then shop on sites like Ruelala.com, HauteLook.com, and Beyondtherack.com to find great sales. I have purchased a majority of my jeans from these sites, because I do prefer designer denim, and it’s typically much cheaper. You still have to shop around and be mindful that you don’t make too many impulse decisions (it’s easy to do that on these sites because it’s a “flash” sale site and items sell quickly). I like to shop on these sites when I have something particular in mind that I’d like to add to my wardrobe. If I want a pair of colored skinny jeans, I’ll scour the websites daily (or just periodically) until I find a pair on sale. Even then, I shop around to make sure that it really is a good deal. 

I could probably go on and on about how to be smart with money, but most of it is common sense and I think we can all do these things….I think it’s just hard to commit to them! It takes a bit of dedication, but it’s entirely possible. 🙂

What are your favorite money-saving tips?