Part of homemaking is learning not to spend money on things we don't need. Industrial, toxic cleaners? We don't really need them, and we can make effective substitutes for a fraction of the cost. New clothes/gadgets/furniture every time something rips or breaks? We can learn to be tailors and repair-folks, saving money by refusing to buy into the mentality that everything is disposable and every inconvenience fixable through spending money.
I am not great with money. I'm not a big spender on things, but I spend a lot on going out (or "experiences" as I like to justify them to myself). This is harmful, not only because "experiences" usually translates to "alcohol and food that's bad for me," but because I'm not building my nest egg the way I would like to. We all need a safety net, and while some of that safety net should be made of the intangibles such as community, family, and health, we do need to suck it up and realize that some of it comes down to money.
Having money is about having the freedom to make choices that will make your life better. Having money helps you buy the comforts. It also gives you agency to change towns, move apartments, try new - ahem - experiences, reinvent your style, or take care of a health concern.
In the spirit of New Year's Resolutions, I made some very me-specific money-saving resolutions that I hope will inspire you to create your own. Even more, I kind of hope you'll give me more "easy" tips like these because y'all know I need all the help I can get.
(note: I know I make disclaimers like this way often, but I feel they're important. I'm completely aware that these "tips" involve a huge amount of luxury and privilege on my part. Many, many people cannot sacrifice $41 a week to savings or are already not spending any money on books. I'm aware that these are a reflection of the privilege I have as a young, single, childless person with a good job. End of disclaimer).
Erica's Money Saving Resolutions
1. Trick Yourself and Save The Difference. Every week, my paycheck is directly deposited into my checking account. Now, I'm a simple gal with few assets at this point, so I just keep a checking and savings account, both with the same bank (though I'll be switching that soon). In my brain, when I'm estimating expenses and making budgets, I round down what I make each week to the nearest hundred. That means that I end up estimating that I have $41 less coming in each week than I do. Then, I have that $41 directly transferred to savings. I don't miss it, because I was never thinking it would be there in the first place. It's a smidge less than the $50 I ambitiously promised to save every week starting on New Year's Eve, but the difference is I'll actually do it, and it's automatic, and I don't feel deprived or like I'm budgeting for savings.
2. Library, Library, Library. If you've spoken to me in the last week or so, you know I was all atwitter about the DC Public Library's Check It In Amnesty program. From now until February 5, you can return any DCPL materials and pay no fines. If you lost something, you can just tell them and they'll clear your account. I did it, and for the first time in two years I'm using my library (and saved almost $200…don't judge me please).
This brings us to a tried and true money saving technique…USE YOUR LIBRARY. I'm so bad about hopping on Amazon every time I get a new interest, as evidenced by my stack of natural healing/crafts/natural homemaking books that is sitting on my nightstand staring me down with judgement as I type this. Every time, every single time I'm tempted to buy a book or DVD, I check the DCPL website first and see if I can have it put on hold at my local branch. I almost always can. What's better, it takes about the same amount of time usually as getting something from amazon.
If it's a craft book or a cookbook, and I want to save ideas in it, I write it down, put it in a plastic sheet protector, and file it in a binder of my own which is divided into "recipes," "sewing," "housekeeping," and other categories. No longer do I need to order every book I take a fancy to, and what's more, I have a total friend crush on the cute girl at my neighborhood branch.
3. Only Eat Out For A Reason. Being lazy and not feeling like cooking is not a reason. Being bummed and not feeling like cooking is not a reason. Promising to start eating healthily tomorrow is not a reason. Being invited out by a friend, getting a reward at work, celebrating a beautiful Saturday afternoon on a patio are reasons. It's okay for me to go out, and absolutely essential to my mental health and connectedness with others, but it is crucial not to lean on it as a convenience but rather see it as a communion. This means I go out less, cook more, and am healthier.
4. Any Windfall Goes Into Savings. Christmas bonus, tax return, financial aid balance, this all goes right into savings. I do touch my savings (more often than I should), but putting as much as possible into that account helps me watch it grow, which makes me want to save more. I experienced this when I was saving about $2000 to pay off my old University so I could go back to school. It's an addictive feeling.
5. Do The Math. Sometimes I lament that I don't have "any" clothes, or that I'm not dressing nicely enough. Now if I spent a fraction of the money that I do going out, I'd have plenty to look just as stylish as can be. Admittedly, part of this is that I really hate clothes shopping. But it can be fun to splurge and not feel guilty about the money. That's why, once a month, if I have spent less than my allowance for going out, I let myself use the difference for purchasing things that make me feel good about myself and how I look. Next on the list: a proper haircut.
6. Find Soul-Nourishing Things To Do That Are Free (Or Almost Free). I went through a time where I was really lonely, and the only thing I could think to do with that loneliness was go out on the town. Honestly, I don't regret that or think there's anything wrong with it, it was just expensive. I made some of my closest and kindest friends that way, but it's a phase that I was happy to phase out in favor of cheaper and more meaningful alternatives. If you go to meetup.com, chances are you can find a group for any interest you have. In DC, there's "20s and 30s Local Music Group," "DC Knitters" (who knit in the beautiful courtyard at the National Gallery), and a free yoga group that practices on Saturday mornings in beautiful Malcolm X Park. I wanted to make sure I had one weekly and one monthly soul-nourishing thing that I could always count on. I made a resolution to attend church every Sunday in 2012, which gives me community and intellectual/spiritual engagement (even when I'm out of town). Also, my friend and roommate Priyanka started a book club, which (in conjunction with my resolution to use the library), gives me a monthly event with other women (and includes a potluck brunch). Boredom is the enemy of saving money. Whether it's having a standing date with a friend to watch 30 rock every week, or a regular Sunday afternoon running club, knowing you have company and engagement to look forward to helps take the urgency out of filling up every night. By having things to look forward to, I also find myself enjoying my alone time more and getting more things done that are important only to me. This reminds me of a truth: when you're dating someone, alone time is precious. When you're not, you're always looking to fill it up. Hmmm.
There will be more of these, but here's part one. Help a girl out, let me know your own tips for saving money in the new year!
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