TWO EASY WAYS TO SAVE MONEY THAT NEARLY EVERYONE CAN DO

33 Comments

Faced with an upcoming holiday at the end of the year, we were racking our brains at ways we could save money so that we didn’t have to play “Scrooge” while we were meant to be away enjoying ourselves. And we’ve come up with two ways that are super-easy, incredibly simple, and they work for all the family.

First idea was to get a cheap money-box for each family member (we used large empty glass jars with lids), and we each put our names on our “money-box”. Then, at the end of every day, we empty all the coins from our purses and wallets into our individual money-box. It’s amazing just how quickly the coins have added up. Between the four of us, in 4 months, we’ve saved over $350, and we really haven’t missed those few coins each day. We’ve even become a bit competitive, with trying to beat each others totals. And just to decrease the temptation to raid our “piggy banks”, we keep them on top of a cupboard in the kitchen, rather than in each of our rooms.

Second idea was something we saw on Facebook (so yes, Facebook can be used for good, as well as evil). It involved the relatively simple idea of putting a specific amount of money away each week, increasing the amount by $1 each week. So the first week of the year, put $1 in an envelope. Second week add $2, third week $3, and so on, until (if you can afford it) by week 52, you’re putting $52 in the envelope & you’ll have over $1,300 saved.

Now I knew that I wouldn’t be able to continue increasing the amount indefinitely because money is tight week to week. So I decided that once I reached $15 a week, that’s what I’d continue to put in the envelope each week, for the rest of the year. By week 15, when I’d reached putting away $15 a week, I already had $105 in the envelope, and if I continue to put away $15/week, I’ll have $525 by the end of the year.

And we’ll each have spending money so that we can treat ourselves on holiday, rather than having to watch every penny that we spend. You don’t have to start at the beginning of the year, you can start any time, so get to it, and watch your saving add up!

Posted by no1ladydj, 2nd May 2014

33 Comments

- - mom112217 said
  - 29 Mar 2017
    12:46 pm
Two great ideas,the money in the piggy bank does add up!

- - mom81879 said
  - 28 Sep 2015
    6:11 pm
We have money boxes and empty our purse and wallet of all our coins. Gold coins in one box and silver in the other. Doesn’t take long to add up

- - mom113055 said
  - 16 Apr 2015
    7:40 pm
nice story

- - mom57522 said
  - 11 Jan 2015
    8:34 am
I remember saving up all my lose change when I was younger, and agree that is adds up pretty fast.

- - 3timesamum said
  - 08 Jun 2014
    2:12 pm
Thanks for the great ideas on how to save throughout the year. it really all does add up.

- - scottie said
  - 28 May 2014
    3:09 pm
love the idea of increasing the amount week by week

- - coppin85 said
  - 28 May 2014
    2:24 pm
we’re doing great with both ideas

- - twinmum2 said
  - 23 May 2014
    12:31 pm
Your first idea especially sounds very easy, painless yet effective.

- - meimei said
  - 21 May 2014
    5:22 pm
Great ways tips to save money. Thank you.

- - catgrrl3 said
  - 16 May 2014
    9:25 pm
i dont think there will ever be a week I can afford to put in 52 dollars, but we do use the all coins in a jar tip, and it comes in handy when needed

- - kymichelle said
  - 12 May 2014
    3:12 pm
We do the weekly saving one but start at $52 and go backwards so that in those last weeks before Christmas (and we have a lot of birthdays in the second half of the year too) we are putting in less.

- - coppin85 said
  - 11 May 2014
    7:17 pm
this is two great ideas – i will try it!

- - suzanne_brown said
  - 11 May 2014
    9:58 am
I am running a jar at the moment you put money in each week and it doubles each week, so week one = $1, week 2 = $2 keeping to it so far.

- - mom57756 said
  - 10 May 2014
    11:09 pm
Totally that saving money should fall on all family members. Love the jar idea.

- - tamandimmy said
  - 09 May 2014
    10:37 am
what a great idea, it sometimes simple things like this that are the easiest and less stressful

- - rachaelchara said
  - 08 May 2014
    2:41 pm
Great money saving ideas you have shown. When I was a child my mum took me to the bank and opened what was then called a Christmas Club where you deposit an amount of money each week and by Christmas you knew you would have the money for presents, holidays etc. I am not sure if banks still offer Christmas Club books. Worked for me.

- - mom56524 said
  - 06 May 2014
    10:02 pm
My favourite trick is the money tins from the reject shop for two dollars, only way to open them is with a can opener….. certainely no raiding till its holiday time
- no1ladydj replied
  
  07 May 2014 , 8:54 pm
  I love the idea of a money tin that needs a can opener to open it. Now that really would save me from raiding it occasionally.
- - amal80 said
  - 06 May 2014
    1:28 pm
Great ideas I tend to use my card so not sure the piggy bank would wok for me but I like the $1 extra each week one, I am thinking you could possibly use a high interest bank account with a bank different to your normal one so to resist the temptation to spend it as well, thank you

- - tilly said
  - 06 May 2014
    8:35 am
Some great tips for saving and I hope you enjoy your holiday. I am sure you will.

- - christial said
  - 05 May 2014
    10:18 pm
Putting money away each week ready for the holiday season is a great idea! Then there’s one more thing to look forward to at Xmas!