(sorry if the title of this blog post is stuck in your head for the remainder of the day… #MammaMia)
Hi hello!
Since I mention our budgets from time to time, I receive so many direct messages/emails asking about how Will and I handle our finances/save. I wrote a blog post on what we did a couple years ago but have some more updated thoughts towards the matter so here we go.
(Disclaimer: This is what works for US. What works for you may be entirely different and we aren’t professional money savers! If you have any advice that works for you please feel free to share.)
MINT!
Mint is seriously my go-to resource for budgeting. I check it first thing every morning (okay and maybe afternoon… and night) just to see where our spending is at. Every single transaction we make fits into a budget and I really try to stay within the budgets we set in order to save. Will and I both have individual budgets for our personal spending/shopping each month (his golf goes in his budget!) and that has helped us A TON. It helps us prioritize what we actually NEED vs WANT and I highly recommend everyone setting this budget for yourself. If we go out to eat with friends or by ourselves money is taken out of these budgets. I even have a budget for Penelope! Because heaven knows I could shop for her all day long.
HONEY
I always try to find the best deal possible and Honey is a life saver for that! (if you are viewing this blog post on your mobile, view it on your desktop so you can download Honey as your browser extension). Before I check out ANYWHERE online, I click on Honey to help me make sure I’m getting the best deal possible. Serious GAME CHANGER! You can download it to be an extension in your broswer. I use Chrome and it pops up right to the side of my search bar.
WUNDERLIST
If you know me at all, you know that Wunderlist is my BEST FRIEND. I make to-do lists all the time on it with deadlines etc. and a list I love is the GROCERIES list. I add things throughout the week that I know we are out of/need and when I’m at the grocery store I buy strictly off of that list. I hate going into the grocery store without a list in hand because I always walk out with pointless things that I don’t need/will go bad.
UNSUBSCRIBE
This has helped a ton. Unsubscribe from emails that make you constantly feel like you need to buy! I am currently only subscribed to small/local shops that I love. No more J.Crew, Gap etc because every day is an amazing deal I feel like I’m going to miss out on if I don’t shop immediately. Don’t worry about missing the coupon code because if you actually do need something if you have Honey to get you the discount code that is currently available.
SHOP AFTER HOLIDAYS
If you are like me and love home decorations, shop AFTER the holidays to get the best deals! I seriously buy all of my Christmas decorations on the 26th, July 4th on the 5th etc. etc. It’s all usually 50-70% off and makes it so fun to pull out the next year because it’s all new to you!
SELL YOUR STUFF
I think a great way to make money is to sell the things you don’t use anymore! I love using Poshmark, KSL, eBay, Craigslist etc. Sometimes, if I’m really wanting a specific item like for example a pair of shoes, I’ll tell myself I can’t get them until I sell things that amount to the cost of the new shoes. It feels so good to clear out my closet before I buy something else! Poshmark is my favorite channel for selling clothes.
LOWEST POSSIBLE AMOUNT IN CHECKING
Someone who is a financial advisor once told me to keep the lowest amount possible that we can live off of in our checking (or whatever account your debit/credit card is linked to!). If you are in the situation where you are saving a little bit of money each month, transfer that over to your savings where it can’t be touched at the end of each month.
SHOPTAGR
Do you ever hate buying something because you have a feeling it will go on sale soon? Shoptagr is another extension I’m using in Chrome to help notify me when items go on sale.
DAVE RAMSEY
And lastly, try to avoid debt (if possible). I know Dave Ramsey is deemed “extreme” to a lot of people but I really like the advice he has on what to do with your debt and how to pay it off as quickly as possible. I listen to one of his podcast episodes every day while I’m driving and try to implement his advice with my spending. He is not everyone’s cup of tea but I really like his stance on debt and “Living like no one else so you can live like no one else.” haha!
INVESTING
Okay lies, I guess I have one more that just popped into my head. Investing. IF you do have money to save each month, maybe consider investing your money so it’s not just sitting in your savings account. Be smart about your investments and talk to someone you trust about where to invest your money. It will grow faster investing than sitting in your savings account.
I hope that answered some of your questions! Once again, I’m not a professional money saver and don’t know everything but these are currently things that we do to help stay responsible with our income.
Let me know what works for you/if you have any input!
-Liv
