We’ve all wished at some point in our lives to be able to save money faster and more effectively. If you’ve tried countless money saving techniques and none of them have worked out for you, it’s time to look at some new creative ways to save money. Because we want to help you keep an eye on your finances and put some money aside for that dream holiday you’ve always wanted, we decided to gather 4 tips on how to save money, coming from experts in the field; 5, including Dave Ramsey. So if you’re open to taking your life and business to the next level, here in this post, 5 experts share creative ways to save money.
New York Time best-selling author Dave Ramsey is one of the most trusted names his industry; the world of financial advising. We’ve gone through his book “The Total Money Makeover“, and highly recommend it for anyone, no matter where you are in your finances.
The principles in this book will open your eyes to a whole new level of financial freedom. Whether you’re an entrepreneur or you aspire to be an entrepreneur one day, you’ll be more financially fit after you see Dave’s proven plan.
Creative Ways to Save Money: Experts Weigh In
1. Buy Used
Many people don’t like buying used items simply because the word used often has a negative connotation. In fact, used clothes, cars, furniture items, electronics, and so on, can really help you save money while also providing you with a great deal. Julia Scott, founder of BargainBabe, is the expert in finding good deals. If anyone knows some of the best ways to save money, it’s Julia. There’s a reason why she won the Best Deals and Bargains Blog award. She advises people to buy secondhand items. Especially in retail, she says, you can save up to 35% or more.
She also has some tips regarding the best places where you can buy used items. You can try visiting thrift stores, going to garage sales, or checking Craigslist. Be imaginative with the things you can buy used. Don’t limit yourself only to clothes. Try computers, tools, toys, or whatever else you might need.
2. Pay with Cash
You’ve probably noticed that whenever you have your credit card around and no cash at hand, you’re tempted to purchase more things you don’t need. Andrew Fiebert, founder of ListenMoneyMatters suggests only paying with cash for at least a month. If you’re wondering how that is going to help you save money, Fiebert has the answer.
He says people are much less likely to spend money on useless things if they have the money in their hands, where they can actually feel how much they’re spending. It’s true, this isn’t a huge barrier between you and the things you want to purchase. Still, it can make you think twice before buying something.
3. Try a Spending Diet
Pauline Wallin, clinical psychologist and author of “Taming Your Inner Brat: A Guide for Transforming Self-Defeating Behavior” advises people who are looking for a way to save money to try a so-called spending diet.
This implies coming up with a rule that says two days a week, you’re not allowed to spend any money. Of course, sometimes, you can’t avoid expenses such as bus fares. Wallin says these are acceptable, but lunches, coffee, or candy should be off-limits.
Pauline is an authority in this space, so you’d be wise to listen up. She’s President of the APA Division of Media Psychology. And while you might expect a book from a clinical psychologist to be stuffy and rigid, her book is quite the opposite. It’s sprinkled with humor, and practical application. In fact, you’ll get specific strategies from Taming Your Inner Brat to help recognize and reign in your bratty attitude, shift your perspective and make lasting changes. Pauline teaches you to deal with any situation in a productive manner. You’ll find many life gems in this book.
4. Visualize Your Dreams
One of the best ways in which you can convince yourself you don’t need to spend that much money on things you don’t need is to imagine what you’ll be able to do with the money you save. Ric Edelman, financial adviser and author of “The Truth About Money”, thinks people should have specific goals and visualize them whenever they’re tempted to spend more. If it helps, you can create a vision board of the things you want, like a car or a vacation. Put the vision board in sight and it will serve as motivation.
Another motivation for me, personally, is seeing the stories of other entrepreneurs. Learning from their failures and successes is what this site is all about. We have some video interviews you can watch right now that will challenge you, your vision, your goals, and take you to that next level.
We hope these 4 creative ways to save money have motivated you to break the habit of overspending. For some more money saving tips, take a look at the video below.
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