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Creative Ideas to Build the Money Saving Habit

We all know how important it is to start saving money. Making a budget, sticking to it, and looking for ways to save money by canceling subscriptions and other tactics are standard savings tips. Yet, many of us find it’s difficult to start saving money when we know these things work. Let’s make it fun by looking at creative ways to save money to make it easier to reach your savings goals.

Finding Your Money Saving Motivation

Knowing the importance of saving money is not always enough to kick us into savings gear. We have to have our own unique saving money motivation to drive us towards those behaviors. Think about what motivates you to want to save money. Some ideas could be:

  • Pay off your student loans faster
  • Get out of credit card debt
  • Put away more money for retirement each month
  • Have a $1,000 emergency savings
  • Create a travel fund for your next trip
  • Save for a new car or home

Whatever your motivation is, make sure that it’s top of mind. Write down your savings goal. Keep track of your progress to ensure the importance of saving money means something specific and relevant to you.

How to Save Money Every Month

We’ll get into the more creative ways to save money. But first, you do have to get the basics down. You do need to have a budget that’s built with your finances in mind. In addition to tracking your income and expenses sources, here are two fundamental ways on how to save money every month to add.

Use a Weekly Savings Plan

It’s more manageable to figure out how much money you have available when you base it on weeks instead. A weekly savings plan is easy to do by breaking down your monthly budget into weekly amounts. It can also help with managing income since many of us receive checks on a bi-weekly basis.

Start Managing Income

Income management can be challenging, especially if you have variable income. To alleviate this, overestimate your expenses and underestimate your income on your budget. Consider paying yourself first by using a set percent of your income on your savings goal each month. Another alternative is to find other ways to supplement your income by taking on a second job, side hustle, or seasonal work.

Creative Ways to Save Money

Now let’s talk about some outside-the-box fun savings tips that you can try:

  • Shop for groceries on Wednesdays; That’s when many stores put items on sale, and you’ll have first access to them
  • Put any unexpected income or monetary gifts into a savings account
  • Use the envelope system by putting aside envelopes labeled for categories like dining out, entertainment, etc. and filling them with your cash budget
  • Pick a day, week, or whatever you can manage to not spend any money at all
  • Download money-saving apps like Ibotta, Ebates, and Dosh
  • Get into meal planning to save money on groceries, save time, and get healthier at the same time!
  • Start a garden and grow veggies and herbs instead of buying them
  • Unsubscribe from all those marketing emails you receive
  • Challenge yourself to find free things to do instead of going out to eat, the movies, etc.
  • You can put all your spare change and bills less than $10 in a jar. When it’s full, please take it to the bank and deposit it in your savings
  • Learn to DIY to fix things around the home to save money from any services
  • Follow the 24-rule where you wait a full day before buying something you think you want
  • Go meatless at least once a week; Meat is more expensive

How to Save Money Every Month? Try a Saving Challenge

This saving challenge is another great way to save money, especially when we’re struggling to put away money. A saving challenge can be almost addicting, and you can get your friends and family involved to make it a fun competition. Some money challenges to try include:

  • No spend challenge
  • 30-day money savings challenge
  • 3-month money challenge
  • 26-week money savings challenge
  • Dime challenge

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