Save $10 in 10 Minutes: Make One Cut Per Week
We want you to save money at the Mogo Stop The Pain of Overspending Blog, but we also know we’ve got to be reasonable about it. We’re never going to tell you to Never go out and get a coffee! Or Always get the cheapest option at every restaurant! But there are some great things you can do each and every week to keep up with your savings cycle and barely notice you’re spending fewer bucks.
This is an easy and rewarding way to save on the little things – that will eventually add up – make one cut a week.
What To Do:
Find out some of your usual week-to-week expenses (coffee, lunches out, Friday night movie, whatever) and see what they actually cost you. Identify one item to cut from the list for the next 7 days. That’s it.
On your last grocery trip did you find a great deal on sandwich supplies? Make your lunch for the entire week instead of going out for a similar sandwich (that costs much more).
How it Works:
This process only works if you figure out how much each cut will actually save you. If you miss out on two $10 lunches (and spend $5 on supplies), be sure to take that $15 and actually transfer it into your savings account/credit card bill.
If you’re spending less now, but see it in your regular account later, you’re more likely to spend the money. For me, when it’s out of my account, it’s out of mind/reach.
More Great Examples:
• While the weather is still great, skip a yoga class and go for a (free!) run outside… or just chase the kids around the park
• Opt for a lunch date on the weekend instead of dinner, and put away the savings
• Watch the game at home instead of a bar
Share your own savings example by leaving a comment below!