Practical Ways to Save Money


Shelley Koster
Bartlesville and Grand Lake Realtor

Saving money seems to be on everyone’s mind this 2016. I have seen post after post talking about ways to save and cutback over the course of the upcoming year. We ourselves have even written an article or two about it. It is a big topic, which is why we wanted to dive in once more and give some practical ways to save money.

These lessons have helped those of us here at The Koster Team and we know that they will help you too. It is never easy to start saving money, however, once you do start and your finances are in order you will never want to stop.

Here are a three practical ways to save money.

1. Start Saving

Over this past week I heard someone say, “Saving money is like a magnet. Once you start with something small, you will be drawn to keep putting in more and more.” I couldn’t help to think how true that is.

Most of us avoid saving money because we try to put back too much of our budget all at once, but the reality is it is a habit. Start off with something small, like a five dollar bill, put it in a jar and leave it, then the next time you have change or another five dollars, put it in the jar. Before you know it you will have created a habit that will build your saving exponentially.

Saving over time has an added bonus. Over time, your savings will matter more to you which will make you think twice about blowing it on frivolous events and outings. If it sounds too simple, it’s because it is; just start saving!

2. Cut back on costly past-times.

The weekends are a sweet relief for the majority of us. They are a break from our busy lives of working 8-12 hour days and because of this many of us think we are required to spend money and have a good time. However, you can find yourself spending more than you would like to, just for a few days of amusement.

It is okay to enjoy yourself, to take your family out to see a moving, or go to a concert, however always remember the rule of yes:

When you say, “yes” to something you are saying, “no” to something else. 

This matters a lot, because if you are constantly saying, “yes” to having a great weekend, then when vacation time beckons, you might have to say, “no.” You can have a balance and find alternatives to not spending money during the weekends by saying. “no” more often and “yes” later on.

3. Dust off your resume.

This year some new health insurance laws will take effect, and when they do employers with over 100 employees will have to have both full and part-timers fully insured. While companies with 50-99 employees have to have coverage for full-time employees.

Does this mean you’re getting fired?

Not quite, this means that you are presented with a rare opportunity that economist are calling a “Gig Economy.” What’s a Gig Economy? Well, because of the new insurance laws, employers will be more apt to hiring part-time and contract employees versus full-time. This means that if you have marketable skills, that can be freelanced or used part-time, then you have a chance to earn some extra cash.

Until next time, keep loving our city!

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