May 23, 20214 min read

8 Simply Tips on How to Save Money Fast

Welcome back to our Let's talk money series and operation get out student debt. This is online intervention to sort our money matters and share some best personal strategy for our journey to get out student debt. Since one of the key element for get out debt is SAVING, I want to share 12 ways to help you save money. I highly recommend speaking to professional financial advisor from your local area or banking.

Let's Talk Smart Money Habits

#1 Study your expenses

Before you can save any dime! You've got to understand how much money you have coming in and going out. You can only do this by budgeting your expense and know your money situation.

As an entrepreneur this an important steps to lead to successful financial freedom when you can separate your assets from liabilities. A great way to plan for your financial future is to understand where you are now.

You can use this Scotia Bank calculator to understand you money matters.: Money Finder Calculator.

#2 Budget Plan:

You need a budget plan weather is weekly or monthly have clear view of your financial. The idea here is you want to know how much you bring in vs taking out so you can allocate your funds wise while paying off your debt or bills on time.

#3 Be Debt FREE

You can save money you do not have. One the hardest thing you can do is get into crazy debt rabbit holes which takes years to get out of it. It will make you have hard time saving money because you are always paying someone you hard earnings.

Shop Smart while Saving money

If you must shop or buy any items wether is essential or to spoil your needs. Make sure your take this into consideration next time you at the mall or store. You are working with limited budget for personal use. Make sure you are getting good deals out that money by buying during sales, clearance or use coupons. I will break it down in details below.

#4 Holiday Sales

Long Weekend Sale: If you can afford to buy the full price item ticket, try to aim on sale deals save extra buck. Beside most time sales deal are available within save season products during holidays or long weekend.

Best time to shop!

I've worked in the fashion industry for years I can tell you, long weekend ( Friday, Saturday, Sunday or Monday before closing) are best time to shop. Morning during store opening hours are they best time to find products without a rush. Evening before closing are great for no heavy traffic but most time you might find your size because it will be gone by then.

#5 Store Clearance:

Whenever stores are introducing new season products they do a mass clearance sales with 40% entire store or 70% off items. If you missed out during long weekend sales you can still get those items at fraction of price. For example, if you have been aiming to get that TNA bag or long winter boots. I would say this is great time to invest in next winter gear.

ITEMS AROUND THE HOUSE

#6 Cut Down the Electricity Bill:

Remember! As a child your parents or grandmother keep reminding you not keep the lights one. Here is adulthood rude awaken thats how they safe on electricity bill. If you live in house what requires you to pay electrical bills every money as additional cost from your rent. Try to unplug things that take electricity like iron, phone charges, heater, laptop when you are not use them. Close room lights behind when you are not sitting there. This small changes you can see small or drastic change on your electrical monthly bill fees.

#7 GROUPON or COUPONS:

Groupon has many deals available for your to pick from whether is drop for hot yoga class, purchase item online, outdoor activities or helicopter thrill. You can find deals and coupons discount for just about anything you want on Groupons.

Health Lifestyle on budget

#8 Class Pass Discount

If are you into active lifestyle and health wellness with some many gym membership. I would highly advise you to start consider getting a Class Pass discounts, Groupon etc. You want get the benefits of the gym but also save your money to help you get off debt faster. In your money habits wont allow you have gym membership or class pass. You might need to consider going with alternative options by watching youtube videos or doing at home workout. If the weather is nice outside go for run, the park or community gym are normally free of charge to use. Plus, make sure to read Dave Ramsey: How To Save Money Fast.