THE TIP BOOK

How To Save Money and Control Spending

How To Save Money and Control Spending

1) Saving

Whether you get your money from chores, work, birthday, or a holiday, it's EXTREMELY important that before you spend, you SAVE! Look at this way: if you spend all of your money at one time or most of it, what are gonna do next week when you see that adorable pair of PINK yoga pants on sale for half-off? No matter how old you are, you need to have some of your money put away for something you really want or need in the future. Talk to your parents, if you're too young to do it yourself, about opening your own bank account. Then, the next time you receive ANY money, whether it's five dollars or five-hundred dollars, put 1/f of it in the bank. So, for the five dollars, you'd put $1.25 and for five-hundred, you'd put $125. Get in the habit of doing this whenever you receive money, and before you know it, you'll have a TON of money saved up!

2) Budget Yourself

A really fun and creative way to help with your spending is to make a "Money Journal". Take a cute notebook and decorate it however you want. Then, write down each week how much money you spend. The goal here is to try to spend about the same amount each week instead of spending $50 one week and then $10 the next. If you notice any crazy differences like this, find an amount in the middle and try to stay at that number, instead. So, in this case, you would try to spend about $20-$25 the next time you shop.

3) Limit Your Money

If your "Money Journal" says to spend $40 this week, do NOT bring any more than $45 with you to the mall. That way, you can't say "Oh I love these shoes! I've already spent $42, but I still have $30 more!" and you won't be tempted to over-spend. Of course, you want to have a LITTLE extra in case of tax or if you wanna get a snack or something.

4) Don't Carry Money

When you go anywhere other than on a shopping spree, it's important not to carry more than about $10 with you.Again, this way you're not tempted to over-spend, but you still have a little money for if you get hungry or need gas or something.

5) Think Twice

When shopping, try and look for items that you can get the MOST use out of. Things that have the same colors or tones as the majority of your wardrobe, things that compliment each-other, etc. Also, don't get doubles of items. That whole "I'll get one in every color" gimic? Give me a break! You'll probably only wear all of those shirts you got once! If you really like that shirt in two colors, pick ONE and try finding a DIFFERENT shirt in the OTHER color that's similar to it.

6)Quality Patrol

Check and see if you're getting the quality that you're paying for. $30 for a thin t-shirt that'll most likely rip isn't worth the thought. You could probably find the same one somewhere else for $10 and it might be even better quality! My favorite stores to shop at that have DECENT quality are:

Forever 21

H&M

Rue 21

Pac Sun

American Eagle

7) Also...

When shopping, remember to ask yourself:

*Do I really need it?

*Do I already own something similar to or just like it"

*Is it worth the money?