Saving money

The state of the current economy has made me change a lot of old habits that I had in order to conserve my money. Last year I feel that I spent too much money on things that are not necessary. I spend a lot of money on expensive clothes and expensive shoes. I would also find myself spending money on my friends because they didn’t have money to go out to eat or to go the movies. I would “cover” them a lot and at the time I didn’t care but looking back I realize that that was a bad decision. Since I didn’t have a job last year, I was spending money that I had saved from the summer. With no steady form of income, spending a lot of money on unnecessary items is not wise. If I did have a job and made a steady income then spending money wouldn’t have been an issue since I would have been making money. But this was not the case and my money was being spent recklessly.

This year I have cut down on my spending tremendously. I don’t really buy expensive clothes or shoes anymore unless I need them. I do a lot more bargain shopping at second hand stores. I actually enjoying shopping at the second hand stores now because I have found clothes and shoes for very reasonable prices. Things that I would normally spend one hundred dollars on I have bought for fifty dollars. Bargain shopping at second hand stores is one way that I have saved money.

Another way I have saved money is by not lending money to my friends anymore. Last year I spent too much money “covering” my friends and this year I don’t do that anymore. The money that I have in my account was either earned through work or part of a loan so I don’t give my money away freely anymore.

Finally, the last and most important way I save money is by budgeting myself. Last year I had all of my money in my checking account and I would use my debit card a lot. This can be dangerous because it is easy to over-draft and spend more money than you mean to. So this year I have budgeted myself on a monthly basis as well as opening a savings account where I keep the majority of my money. This way I can keep to a strict balance every month. This makes me not overspend.

These are the ways in which I have saved money during the semester. Hopefully my methods will be of use to some people who are struggling with saving money.

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