• Tyler

How To Start Saving Money In 2021

Updated: Feb 4

Saving money in 2021

It’s 2021 and you want to save more money, right? You want to learn how to save money fast, right? Or you simply want to learn how to save money. Why else would you click on this post unless you wanted to save more and make more in 2021? Let me tell you right now that it’s totally possible to save more and make more money this year. You don’t need to be rich or have a lot of money to save. All you need is a plan in place and a goal of where you want to be financially by the end of this year. And we're going to share with you now how to start saving money.

Ariel and I are not rich people. We understand the struggle of not having a lot of money and experiencing the grind just to save the little we had. And guess what, we saved over $24,000 in about 3 years that helped us pay off all of our debt. So, we are currently debt free because of the money savings tips that we applied to our marriage and lifestyle. We saved over $24,000! We are not rich people, but simple people that had a lot of debt and was sick of it.

So, we made a change in our spending habits, and our saving habits. We got there with the job I was working. And here’s another thing, Ariel was in school full time during this process and had a part time job. Ariel eventually left her part time job to focus on her senior year. I was the only one working! We also managed during all this to pay off about $5,000 worth of credit card debt.

I tell you all this because you need to know that we aren’t jut writing this without experiencing the struggle. The odds were not in our favor, but we still managed to put together a plan to save more money. That’s why we want to share with you the changes you need to make to save money this year.

How To Save Money In 2021

Start A Savings Account

This is a no-brainer. When you keep money in your checking account, it makes it all too easy to spend it. Trust me, I’ve done it before. When you start a savings account, you should always figure up the amount of expenses you expect to have for the month, and then transfer any extra over to savings.

Don’t forget the fun money! That’s right, if you send all but your bill money to savings, you’ll be pulling it right back out. In advance, set a goal each month of how much you will allot yourself for fun money. This could be money for dates, clothes, eating out, etc. This will help you manage your money better.

Build Up Your Emergency Fund To $1000

This could be located in your savings as well, or you could make a separate savings account. An emergency fund is a savings account where you store a base limit amount of money and it is used only for, well, emergencies!

Life happens! If you have an allotted amount set aside simply for emergencies, then you’ll be covered in most situations. Your car battery dies. Your emergency fund has your back. What if a child breaks their arm? You’re covered!

The amount can be whatever you want. I always suggest, however, that it be a minimum of $1000. That will cover most emergencies. If something happens, then you got that and any extra savings.

Cancel Your Cable Subscription

When Ariel and I got married, we never purchased cable. We simply used Netflix or Hulu. We have social media anyways, so if anything on the news happens, it’s always on social media too. Or on their websites.

This could save you a lot of money fast if you cancel it and get something cheaper or nothing at all. I don’t watch a lot of tv anyways.

Find A Cheaper Phone Plan

Maybe you enjoy having unlimited data, and talk and text, and all these other features that you don’t need. Most plans come with unlimited talk and text anyways, but they get your money on data. Consider getting less data per month and this should save a lot of money fast!

Eat Out Less Times Every Month

I saved over $1,000 over a few months because I once cut out all fast-food restaurants. You don’t realize this, but typically people eat out at-least once or twice a day. It could be on their lunch break or they wanted to eat dinner out.

First of all this is very unhealthy, and second it’s very costly. If you spend about $5-10 per meal, and do that a few times a week, that would add up to almost $25-50 a week and $150-300 a month. How crazy! Cut out the fast food and you will have more money in your pocket. And you’ll be a lot healthier too if you eat healthier meals at home.

Get A More Gas Efficient Car

I have always wanted a mustang, but are they the mot fuel efficient cars? Nope! They are making them more fuel efficient these days, but they still cost more in gas than other, more fuel-efficient models do. Consider selling your car and saving BIG on gas every month. Especially if you drive a lot, this could save you a lot more per month.

Set A Personal Limit on Credit Card Balances

Don’t just use your credit card and not think about how much the balance is. Those suckers cost a lot in interest if you put a balance on them that you can’t pay off at the end of the month. Try to pay off all your credit cards each month, and only spend on them the amount that you know you can repay. Interest sucks, that is, when you’re the one paying for it. Save money fast by limiting how much you charge on your credit cards.

Attack Your Debt

Like I said, interest sucks sometimes. If you have a mortgage or credit cards, you need to pay them down. Even if you can’t pay them off immediately, then try paying what you can and stop getting high interest charges. The less money on your cards, or loans, the less money you pay in interest. This helps to start saving money fast for sure.

Start a Side Hustle

Always consider starting a side hustle. Starting a new profitable hobby can be beneficial for you, and even lead to a full-time gig if you play your cards right. A side hustle could be anything you enjoy doing but offering it as a service to others. Maybe you enjoy singing. Try singing at local events and get paid for it. Maybe you like blogging. Try starting an online blog and placing ads on it to make a few extra bucks. Blogging takes a while to get going, but if you have the patience, blogging can be very profitable.

Final Thoughts

No matter where you start first, please start! Don’t wait until you have higher debts, or depleted accounts to start saving. Start now and live more. Don’t live paycheck to paycheck anymore. You have the ability to change the direction of your life, so choose to save and manage your money better for a more financially free year and life!

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