Several Ways to Save $10,000 in 2018

If you found yourself with $10,000, what would you do with? It might be something that you have thought about before or not. Yes, it may be fun to spend this money, but wouldn’t it be better to save it for financial security and peace of mind? You bet. Unfortunately, some people would think of ways to spend it on a fabulous day at the spa, a vacation trip, shopping spree and you name it. Some with more wisdom would probably use some of it to pay down debt and build up their emergency fund.

Take Baby Steps

To save $10,000 in the year 2016 (current year), you should take baby steps. You can start by putting away a $100 at a time. Set a short term goal to see how much you can afford to save each week to reach the $10,000 mark at the end of the year. Calculate your income and expenses to see how much money you would have left over and use that amount to put in your savings account.

The Extra Money

However, before you put away in your savings, use some of the extra money to pay down some of your debt. After doing this, you should consider putting away some of the extra money to cover up to six months of bills, in case an emergency occurs such as loss of employment, serious illness or accident.

The Goal Realized

$10,000 saved for the year is a major goal to consider, but it is attainable. You just have to do some financial planning smartly, creating a specific budget and sticking to it. Keep track of your spending and try not to spend money on impulse. Yes, you have to be disciplined, if you want to meet this goal.

Begin with Wisdom

If you are unable to achieve this on your own, you should seek professional help from a financial advisor and/or planner. That is the first step toward wisdom. If you already have one thousand dollars put away, you already know how to save. Saving money is the wisest thing to do when you realize that unexpected situations can occur. It will bring you a sense of relief to know that if your pet needs to go to the vet or your car needs to be repaired, you can afford it. The last thing you want to do is to dip into your emergency fund, but if that is all you can do, at least you have that option.

Serious Budgeting

Have a sit down with your family members to discuss budgeting and the things that the family will have to cut back on. Determine what you will cut out of the grocery list – things needed and not the things wanted. If your budget is flexible, it gives you more traction to save. If there is another income earner in the household, it makes it easier to budget and save. The additional income gives you an edge to save more. Along with budgeting, the extra income can free up some more money for you to save.

Freeze Spending

Freeze your spending. Don’t make any major purchases for the year. You have to be disciplined with this, though. Let someone in the family know of your goal and they will make you accountable. If you are accustomed to going to the hairdresser or nail tech every two weeks, change it to once per month. To save even more, you can do your nails and hair at home or use the expertise of a family member or friend.

There are other ways to save money such as spending less at the grocery store, taking on a second job to earn more, or working more hours.

 

Buying Clothes For Moms On A Budget

Just because you want to save money and ease up on your spending doesn’t mean you have to give up your love for fashion. There are still ways to save money and stay in style. Buying clothes you need and want shouldn’t break your bank. Since kids grow out of their clothes faster than you can buy them.

It seems so silly to waste money on expensive clothes that they may ruin or will hardly ever wear. And just because you are a mom doesn’t mean you have to neglect your wardrobe either there are ways to have your cake and eat it too. We will provide you with some thrifty ideas that will save you money and have your family looking great!

There is nothing wrong with wanting to buy new clothing. But to be perfectly honest I never pay full price for anything. I enjoy wearing fun fashionable items but I do not want to fork out the money they are asking for.

What I do is always stick with sale items. Just dodge all the clothing in front of the store and head for the back. A wise woman once passed on this piece of information and it has saved me a lot of money. Look for the clearance racks they are usually filled with items you may want or need. You can find yourself purchasing more items for less.

The same rules apply for kids clothing as well. And if you’re worried about getting their holiday outfits, you save the most amount of money buying right after the holidays. That way you are already prepared for next year’s holiday season. Shopping off season is where it’s at.  And do not go shopping without those coupons. They are there for a reason. Think about buying a Calvin Klein winter coat on sale and having a coupon, for me that was a 60% savings off the original price.  

Now that you know where in the stores to shop know that it’s also important to shop smart. Shop for clothing that can be used year long. For boys clothing limit the amount of long sleeves you have to buy each year by utilizing tee shirts. Buy neutral thermal long sleeves the little guy can wear under his tees all year long. Dresses can be worn with leggings all year long. Purchase staple items that can be mixed and matched. That way you can enjoy your favorite clothing more.

Check out consignment stores. Bring your gently used clothing and swap out for cash or new used clothing you need. It is astonishing at how much you can save. There are some stores that may not carry what you need but will allow you to cash out for the items you brought. Since it’s clothing you were already getting rid of it will be worth the amount of money you will receive. There are even kids only consignment stores, which will save you probably hundreds of dollars.  

Thrift stores are a hidden treasure. It may take some time digging through clothes but you can even find designer clothing for cheap. As long as it looks like it’s in good condition why not. No one has to know that you bought it from a thrift store or will care. You will probably even get compliments on your frugal finds. You can also check to see what people are selling on craigslist.

Hand-me-downs are a godsend. You usually know where the clothes are coming from so that will put you at ease and they are free. People love to give their kids clothes to someone that can and will use them.

 

So get over the thought of having to have something brand new. It’s not budget friendly. And if you prefer something new then shop smart. It’s not worth it to buy clothing at full price when there are so many other pocket friendly options.