8 Smart Ways Women Can Save Money – Suze Orman
If you’re a woman who craves financial independence, don’t miss these smart ways to save money! They’re inspired by financial goddess Suze Orman, who says she’s the only woman who has written more books than she’s written.
Here’s what she says about saving money for your future:
“We need to give [women] more of an incentive to work, to save, to invest, to create a true future for themselves.” ~ Suze Orman
Are you motivated to create a financially secure future — one that doesn’t revolve around a man? If not, what’s holding you back? If you think fear of success is holding you back — don’t laugh, it’s more common than you think — read The Courage to be Rich: Creating a Life of Material and Spiritual Abundance. And, here are eight tips for basic personal finance for women…
8 Smart Ways Women Can Save Money – Suze Orman
1. Figure out what you’re saving money for. Don’t just save money for your kids’ college education or to pay off your mortgage. Save money for fun stuff! For instance, I save money for my overseas vacations – I want to go on a cruise for my fifth wedding anniversary in October, and a two week vacation to Maui in January. A smart way for women to save money (and — even better — achieve financial independence) is to find compelling reasons to save money! Why do you want to be financially free? What are your goals?
2. Write your money saving goals on your forehead. If you want to stay motivated to save money, you need to go beyond deciding that it’s time to save more money. You need to keep your goals front and center! The beauty of writing your money saving goals on your forehead is that they’ll wash off when you shower. Every time you rewrite your goals, you’ll be newly motivated to achieve them.
3. Make two days a week “No Spend” days. “Unspend,” advise the financial gurus at DailyWorth. “No Spend Days are powerful budget-balancing tools. By simply not spending money one day a week, you give yourself more wiggle room in other areas.” I think one day a week is too easy – I challenge you to make two days a week your “No Spend” days! No fancy lattes, no DVD rentals, no 7-11 slurpees (my personal weakness), and no restaurant meals. This is one of the smartest ways women can save money.
4. Keep a running tally of how much money you save. Every time you choose to take your lunch to work instead of buying it, or choose a regular coffee instead of a fancy frappuccino (this is one of my personal favorite ways to save money because I get a coffee out, but I don’t pay $5), write down how much money you saved. At the end of every week, tally up your savings. I guarantee that you’ll be shocked at how easy it’ll be to save money!
5. Figure out how to make money savings tips stick. You hear money saving tips all the time: cut grocery store coupons, stop eating out at restaurants, shop for second hand clothes, don’t use premium gasoline for your. But, do you actually apply those money saving tips to your life? One of the best ways to save money fast is to learn how to make good money saving tips stick.
6. Figure out why you spend money. You can read about the best ways to save money until the cows, sheep, and pigs come home! But if you don’t understand and perhaps even change your underlying financial beliefs, you’ll never get your personal finances in order. Are you in financial debt for emotional reasons — are you an emotional spender? A compulsive shopper? Do you have faulty money beliefs? You can’t achieve financial independence — or save money — unless you deal with your money issues.
7. Stop buying DVDs and CDs. How many times do you really need to watch your favorite movies or listen to your favorite songs? I own and love the movies Chicago, Mr and Mrs Smith, and Thelma and Louise…but there are only so many times I can watch them! “I know someone with a massive DVD collection,” writes Pat Foran in The Smart Canadian’s Guide to Building Wealth. “He takes the bus because he can’t afford a car, but he does have every episode of The Twilight Zone.”
8. Become a library lizard. My husband and I don’t just borrow books from our library, we take out magazines, CDs, DVDs, and audiobooks. I rent Pilates, Yoga and other workout DVDs – which is a great way to save money on fitness. When was the last time you visited your local library? It’s a great place to save money!
“In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential. It’s no different in the financial realm.” ~ Suze Orman.
To attract wealth and get real about your personal finances, read 6 Steps to Financial Independence for Women.
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You have given here very useful ways to save money and I will act few of them to save money.