Shopping - Start a Shopping Fund
With the biggest shopping season of the year quickly approaching, will you be ready? With a mere few months before Christmas and even less time before Black Friday, this would be a good time to start putting some money back.
Start a “Shopping Fund”
If you are prepared, the holiday shopping season can be a delightful experience. Black Friday itself is a wonderul excuse to shop opportunity to buy winter clothes or even finish (or start?) your Christmas shopping. If you do not already have money set aside for clothes and other kinds of shopping, now would be a great time to start!
Ways to do it
Just like with anything else that you may be saving for, there are many techniques that you could use. Some options include:
- Use a portion of your paycheck - If possible, try to take a small amount from each of your paychecks. Even $10 or $20 per check would add up fast
- Skip that second coffee - Reduce your discretionary spending. While that first cup of coffee is a “must have”…Do you really need the second or third cup?
- Brown bag it - Once or twice a week take your lunch to work instead of eating out. This is a quick and easy way to save a load of money. Not to mention that this gives you a better chance of eating healthier!
- Pay with cash, keep the change - This is a favorite technique of mine. Use cash when making your day-to-day transactions (gas station, grocery store, etc). When you get your change, take any coins and any $1 bills and put them aside. For example, if your lunch costs $3.25 and you pay with a $5 bill, save the $1.75 you would get back. In the end you do not miss the loose change and the small bills, but they add up — FAST!
