My 10 Money-Saving Tips
Patricia Love

Think you are too young to start saving up for your retirement fund? Here is why you are wrong, and how you can get started on it by using My 10 money-saving tips.

10 Money Saving Tips

Ever since I can remember, I was great at making money, but I was not good at saving money. Whether it was my allowance as a middle schooler, the pay from my first summer job as a teenager, or my first real income as an adult with a solid job – I just never seemed to save much. 

Until I was so broke, I had no choice but to figure it out, So I made a choice and started saving, and wow did my life change. Now, I almost always have a little bit left to share with the less fortunate or to put in my piggy bank. On the contrary, one of my childhood friends – let’s call her Miss X – could never save any money for the life of her.

As you would expect, X would often end up owing me money. And it isn’t that she never tried to save what she had – she really did – but she was somehow always broke towards the end of the month.

X is not alone in this. According to a report on CNBC, only 20% of American citizens are any good at saving money regularly. The rest of the 80% of the American population finds the task super hard. Today, I will share my money saving secrets with you so you can find new ways to build up that extra cash.

Why Do You Need To Save Money Now?

When a group of Americans who don’t save money regularly were asked why they don’t, 16% responded that they just hadn’t gotten around to it. After all, you are young and healthy today. What’s the rush with saving up? There will be lots of time to build up a nice wad of cash later on. Right now is your time to party, right?!

Wrong! Research conducted by the Stanford Center of longevity recommends that people aged 25 should start setting aside at least 10% to 17% of their annual income for a retirement fund if they wish to maintain their lifestyle beyond retirement. This just goes to show that it’s never too early to start saving up!

How Can You Stop Spending Unnecessarily And Save Up A Few Bucks Every Month?

But how do you manage to do that when you have a thousand different expenses? How do you manage to pinch pennies when your hands are like a sieve, and any money that is put in them is like water? How do you even begin to build up a retirement fund when your job pays you a meager amount each month? Here are 10 strategies that might help.

Keep track of wherever your money is going

Remember how X never managed to save anything from her monthly pay? According to her, she could never figure out where her money went.

Keeping a record of all your expenses is a good way to get started on your new money-saving ride. There are tons of free mobile phone apps that allow you to track your money conveniently.

All you need to do is create a budget and record your money outgo for a month. This will help you recognize when you are overpaying for certain things and it will push you to recognize exactly where your money is going.

Look for ways you can cut down your current expenditures

Once you begin tracking your expenses, you will soon realize how many of these are utterly unnecessary. Cut these down as much as you can. You do not need to spend $5 at Starbucks every morning when you can make your own coffee for a couple of cents at home!

We often spend a lot every day on small things without thinking about how they would affect our financial statement at the end of the month. Though $5 may not seem like a considerable amount, it translates to a total of $1825 in the span of a year! Think of everything you could do with that amount of money!

Work out a reasonable budget, and try to follow it religiously

After cutting down your extra expenses and recording the money that comes and goes through your bank account each day, you will be able to design a reasonable budget. For this, #IChoose to calculate the amount I need for all of my necessities, and then add a little more in case of emergencies. This extra amount makes sure I have zero excuses to go beyond my budget.

When your budget is smart enough, you will notice that following it religiously is not as challenging as it might have seemed at first. This introduces financial discipline in your life and empowers you to fight off that urge of going on a shopping spree. 

Tell yourself how much you need to save

Another great way to motivate yourself to save more is by creating short-term and long-term saving goals. Calculate precisely how much you need to save to go on that vacation that you have been dying for. Work out what the tuition of your favorite college costs. Telling yourself how far you have come on your saving journey, and how much is still left to do, drives you to work harder at saving.

Before you purchase something new, ask yourself if you really need it

So, you already put a stop to those outlandish expenses that seemed ridiculous once you started keeping track of your money. What can you do now to go one step further?

For some super savings, make it a habit to ask yourself if you really need something before you buy it. A lot of times, we end up purchasing out of impulse – even when that item would not add any value to our lives whatsoever. Cut out this impulse shopping by always thinking twice about your purchases – no matter how necessary it may seem at first. Is it a want, or a need?

Start saving before you have the money in your hands

If you are one of those people who can never carry money in their wallets without having to spend it, consider automating your savings. A lot of banks offer the option of moving a set amount of money from your regular bank account to a savings account as soon as your salary comes in. This allows you to start saving even before you have had a chance to hold your money in your hands!

Whatever you do, maintain good credit

One of the worst things you could do for your savings is to incur a debt. This often leads to a downward spiral that ends only in bankruptcy. Try to pay off any debts as soon as you can, so that you do not end up having to pay a huge amount in the name of interest.

Stay on top of your maintenance duties

How many times have you heard the saying,” A stitch in time saves nine”? Well, when it comes to your house and your car, this is what you need to remind yourself of!

If your house or car is ever damaged, try to get them repaired as soon as you can. Do not sit around and wait for the problem to become unbearable. If left unresolved, small issues that could be very cheaply fixed can soon evolve into huge problems that might end up costing you an arm and a leg! 

Keep a lookout for sales and discount offers when you really want to make a purchase

Do you look down upon people who use coupons when buying milk at the supermarket? Well, I have news for you. A lot of times, these people are much richer than you are.

Stop sticking your nose up at people who are wise with their money. Instead, keep a lookout for sales, and discount offers. Timing your purchases so that they coincide with the season’s sales is the way to go for every smart shopper.

For some hardcore savings, hire a financial advisor

Last but definitely not least, consider hiring a financial advisor for some truly hardcore savings. Ask them about smart investments you could make today, that would age well and pay off when you need them the most. Instead of merely hoarding up your money, put it towards a thriving business and watch it grow. For more money tips go HERE

Let’s start saving

Life is grossly unpredictable. You never know what the next moment may bring. And while saving does not sound super fun right now, you will be glad you did when you have a beautiful bed of cash to cushion your fall in case of an emergency. When you can retire comfortably at 65 without worrying about your finances, you will be grateful to your younger self for getting a headstart.

#IChoose to look at my savings as an investment in my future. Once you have gotten a taste of the security of having a handsome amount in your savings account, you will never want to go back to reckless spending! 


As an active Realtor®, and in sales for 45 years in Washington State, Patricia coaches women in sales to “Refuel” by turning their “I Can’t” into “I Can.” She interrupts the negative behaviors that have sabotaged them and helps them create a new path towards positive results. Albert Einstein once said “The definition of insanity is doing the same thing over and over again, and expecting different results.”

Patricia’s own story of trauma, death, and a slew of bad decisions as a young adult, forced her to flip her own inner script, or face alternative consequences. By interrupting and healing the negative behaviors that sabotaged her, she was able to find the courage, and new found energy to move forward in all areas of her life. She did this with the action of five words.

These inspiring words created her Exclusive Diamond Method”, as Patricia believes we are all a diamond in the rough, just waiting to shine! So, begin the healing, and shine bright like a diamond.

Contact Patricia to start the new life so you too, will shine!

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