Saving Goals

Just about everywhere there are bloggers giving out financial advice on how to save for the new year. Prices are inflating rapidly while pay is remaining quite stagnant, unfortunately. So saving is becoming more difficult since more of your hard earned money is going to pay for your commodities, but because of this, it is a time when saving is crucial. Saving for that rainy day when your windshield wipers stop working when it is pouring rain (true story, that happened to me, was not fun). Although I met a cute guy but that is besides the point. How should you save?

For me, I can only do small increments. There is that one saving tip where you put in a jar, the week of the year. So week 1 is one dollar, week 16 is 16 bucks, etc etc. You get the general idea. I called upon the math I learned while at university and calculated that if you do this method, you'll have saved over 1300 bucks. Whoa. I think I need to do that.

My savings route involves me only using cash and whatever ones and change I gain through spending, I put in a jar. I never know how much I truly would earn at the end of the year through this method, since I use it for emergencies. But, it helps me through emergencies so that means it is a good method, right?

Okay, we all have goals, saving money is for both rainy days and for non-rainy days (traveling). You know, whatever catches your fancy or necessity or both. I decided to make a list on what one should save for, I am not a financial adviser by any means, but it works for me.

1. Travel - I want to go to Savannah, GA. I'll start closer to home, ya know. I live a days trip away and I have never been out there. Have a separate jar for it.

2. New car - There's a jar for that.

You thought I was kidding, weren't you?

3. For those of you planning on signing for a student loan, behave like it is a mortgage. PUT . A. DOWN. PAYMENT. ON. IT. It isn't the same thing but if you save money for your education, your loan will be a lot smaller. I see  a lot of my friends struggling with theirs and they say they wish they saved money before signing for one. I cannot stress this enough, I have recommended it to all of my younger cousins and their friends. I did a thesis on this topic, I read a lot of sad stories of kids struggling with huge loans and the interest tacking on to the total. Save yourself some heartache, start saving for it or work in college and save to pay it off.

4. Do you need your tooth fixed?

5. Going to grow old eventually?

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8 Saving Techniques

Now I am a college student on a limited income, so I have to try and make my dollar stretch.

1. Try and make a budget- Write down what you spend everyday in a notebook or in an excel spreadsheet. You will see over time where your money is going and where to cut down.

2. Pay attention into what pits you are throwing your money into- I realized that I was going out to eat way to often and buying a lot of coffee. Slowly I began to make my own coffee and making my own food at home. 

3. Use only cash!- Credit cards for emergencies but use cash, because once it's gone it is gone. 

4. Save your change- Have a jar that you put your small change in everyday. If you follow number 3 then you will always have change left over, just put that in that jar and count it when you decide too.

5. Pay-as-you-go phones- Last year my contract was up and I was  in the market for a new phone. After shopping around and doing my budget. I realized I could afford an iPhone, but I didn't want to pay for it. So I decided to get a go-phone and I pay 35 bucks a month for unlimited text, data and (I think) 150 mins. Now it isn't ideal and I sometimes wish I had a new smartphone, but I realized that it is a want and not a necessity. 

6. Necessity vs Want- I remember a conversation I had with my father when I was a freshman, I told him that I 'needed' this purse. He corrected me and told me that I 'wanted' that purse, I can survive without it and I did. With that being said you must evaluate the necessities and wants in your life.

7. Put a portion of your weekly income away into savings.

8. Set goals for yourself.

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