Are you always scrambling to make ends meet? Does it seem like there’s more month than money? Then you need a crash course on saving money like an effortlessly good saver. You may even know a few of them. They’re usually the ones who aren’t wearing the latest outfit or the shiniest jewelry. If they are, they most likely got it at half price with a coupon.
If you want more cash in your bank account and you want to stop dodging bill collectors, it’s time to change your ways and develop better habits. It’s not easy, but with a solid plan and a bit of discipline, you can turbocharge your savings. We’ll let you in on some of the biggest secrets of people who are effortlessly good savers.
1. They don’t care what others think
Effortlessly good savers don’t have a need to please. They couldn’t care less if they have the biggest house, the latest car model, or the flashiest wardrobe. Some of the richest people dress quite modestly. And you know what? They’re saving a ton of money on clothes and on their dry-cleaning bill. Dressing to impress is the last thing on their minds. We’re not saying you have to look like a pauper to save some cash, but it doesn’t hurt to cut back on your clothes shopping and instead take a look in the back of your closet.
It would do you some good to actually wear the clothes you already have in your closet instead of buying a new outfit every time there’s a sale. If you’re not taking regular inventory of the contents of your closet, you’re probably buying clothes similar to (or even the same) as what you already own. There are probably five black shirts (one with the tags still on it) in your closet right now. Yeah, we see you.
2. They know the difference between needs and wants
This is a lesson many of us struggle with. It’s so easy to turn a want into a need if you’re really craving something. It doesn’t take much to convince yourself you must buy something right now because someone else will grab it before you do. Good savers know how to delay gratification so they come out the winner. They know that by waiting to make a purchase, they can often score a better deal. Good savers also know when not to buy something because they really don’t need it. They won’t have a one-on-one conversation, trying to convince themselves that something is a need if it isn’t. So take a lesson from good savers and stop having that conversation with yourself.
3. They know how to say “no”
If you need to borrow some cash, don’t ask the effortlessly good saver. More often than not, he or she will shut you down. Unless it’s a dire emergency, you won’t get a dime. And if the effortlessly good saver agrees to lend you money, he or she knows two things. First, it’s not really a loan. Family and friends rarely give money back that they “borrowed,” so the saver will understand that before loaning the money. Second, the saver will not lend if she can’t afford to. She knows exactly how much money is in her bank account — down to the penny.
4. They’re organized
Good savers are also successful with their money because they aren’t messy with their finances. When they go shopping that take a shopping list with them. Savers also make — and stick to — a budget. A little organization can go a long way. Staying on top of your money means fewer impulse purchases and less guilt from blowing your cash on items you don’t need.
5. They know how to get a deal
Effortlessly good savers comparison shop and take advantage of savvy ways to save money such as credit card rewards programs. They also put their negotiation skills to good use when they know it could save them a couple of bucks or earn them a higher salary. In many cases, to get a better deal on something all you need to do is ask.
6. They don’t waste money
A good saver won’t let a rebate coupon sit on the kitchen table. They will be the first to fill out the form and mail it in. Why would you literally leave free money on the table — or worse — throw money in the trash? Don’t be lazy; redeem those rebate cards.