One Hundred Dollars a Month

Welcome to my 52 Ways to Save $100 a Month series. We’re serious about saving money in 2016. Sometimes it’s the little things and sometimes it’s the big things. I’m here to walk you through some little things that can add up to BIG savings. 52 little things to be exact. Every week, join me back here for another small money saving tip or idea that might not seem like significant savings until you see the overall yearly savings. It might just blow your mind. So pop in each Tuesday and read a new tip that will help you on your way to save $100 a month!

There are a LOT of ways to curb impulse buying. I’ve talked about a trick to Freeze Your Credit Cards or about How to Make a Budget. Today I’m talking about one specific idea a friend of mine told me about that I LOVE. Make a 30-day list. It sounds simple and I think it really is. Here’s how it works:

You build your normal budget around your necessities and NOTHING else {obviously you still build in an emergency fund on the off chance a tire blows or your pipes start leaking. I’m talking about WANTS not NEEDS}. You don’t build in a misc. fund. So when you’re out and about shopping and you see something you are dying to have, you pull out your notebook that contains your 30-day list. You do NOT buy the item, you simply write it down on your list with the date and walk away.

Then you wait 30 days. No cheating. If you decide 30 days after you’ve written down that item that it is still a must-have, you allow yourself to buy it. This is a GREAT way to curb spending for 2 reasons:

1. It Stops Impulse Buying Completely: You are essentially eliminating hasty purchases. You have to wait 30 days and let the idea of that purchase linger. You have those 30 days to analyze whether the purchase is important enough and worth it. And you have 30 days to live without the item and see if life goes on just fine without it.
2. It Allows Your to Make Wise Financial Choices: Over those 30 days, a lot can happen. You can have unexpected expenses that blind side you, or you can have a really great month of pinching pennies. If you did not have the list and simply bought the item you wanted, you could not predict the potential need for that money. But if you take a full 30 days, you’ll have the opportunity to see if that expenditure works into your budget for that month. Then you can make the purchase with no regret!

I’ve used this similar method without the actual recording in a notebook, and I can tell you it works wonders. Even if I leave the store and tell myself if I really want the item, I’ll come back, I rarely do. I suspect having to wait 30 days would curb my want for that item completely.

How Much Can You Save:  $3000+. This amount would obviously vary greatly depending on how much unnecessary spending you do, but the average frivolous spending per person in America is about $3,500. It seems crazy high, but I’ve been there, done that so I know that number can be accurate.

More Ways to Save:

52 Ways to Save $100 a Month | Clean Out Your Closet {Week 1 of 52}

52 Ways to Save $100 a Month | Break Up with Cable {Week 2 of 52}

52 Ways to Save $100 a Month | Barter Better {Week 3 of 52}

52 Ways to Save $100 a Month | Change Your Own Oil {Week 4 of 52}

52 Ways to Save $100 a Month | Adjust Your Thermostat {Week 5 of 52}

52 Ways to Save $100 a Month | Take Advantage of Your Perks {Week 6 of 52}

52 Ways to Save $100 a Month | Pack Your Lunch {Week 7 of 52}

52 Ways to Save $100 a Month | Make It Yourself {Week 8 of 52}

52 Ways to Save $100 a Month | Preserve Your Bounty {Week 9 of 52}

52 Ways to Save $100 a Month | Keep the Change {Week 10 of 52}

52 Ways to Save $100 a Month | The Art of Borrowing {Week 11 of 52}

52 Ways to Save $100 a Month | Ditch the Gym {Week 12 of 52}

52 Ways to Save $100 a Month | Clip a Coupon {Week 13 of 52}

52 Ways to Save $100 a Month | Start Your Garden From Seed {Week 14 of 52}

52 Ways to Save $100 a Month | Learn to Cut Hair {Week 15 of 52}

52 Ways to Save $100 a Month | Become a 1 Car Family {Week 16 of 52}

52 Ways to Save $100 a Month | Make a Phone Call {Week 17 of 52}

52 Ways to Save $100 a Month | Shop Christmas in July {Week 18 of 52}

52 Ways to Save $100 a Month | Grow a Garden {Week 19 of 52}

52 Ways to Save $100 a Month | Just Say No {Week 20 of 52}

52 Ways to Save $100 a Month | Go Generic {Week 21 of 52}

52 Ways to Save $100 a Month | Make a Budget {Week 22 of 52}

52 Ways to Save $100 a Month | Use the Library {Week 23 of 52}

52 Ways to Save $100 a Month | Kick the Soda Habit {Week 24 of 52}

52 Ways to Save $100 a Month | Improve Your Credit Score {Week 25 of 52}

52 Ways to Save $100 a Month | Shop Online {Week 26 of 52}

52 Ways to Save $100 a Month | Save on Lodging {Week 27 of 52}

52 Ways to Save $100 a Month | Play for Free {Week 28 of 52}

52 Ways to Save $100 a Month | Save Big on Birthday Parties {Week 29 of 52}

52 Ways to Save $100 a Month | Back to School Clothes on the Cheap {Week 30 of 52}

52 Ways to Save $100 a Month | Inexpensively Entertaining {Week 31 of 52}

52 Ways to Save $100 a Month | Buy Used College Textbooks {Week 32 of 52}

52 Ways to Save $100 a Month | Buy Used {Week 33 of 52}

52 Ways to Save $100 a Month | Buy In Bulk {Week 34 of 52}

52 Ways to Save $100 a Month | Skip a Meal {Week 35 of 52}

52 Ways to Save $100 a Month | Save on Medical Expenses {Week 36 of 52}

52 Ways to Save $100 a Month | Save on Christmas Spending {Week 37 of 52}

52 Ways to Save $100 a Month | Reduce Convenience Foods {Week 38 of 52}

52 Ways to Save $100 a Month | Stop Paying Interest {Week 39 of 52}

52 Ways to Save $100 a Month | Eat Less Meat {Week 40 of 52}