5 Ways to Save Money and Have Fun While Doing It
Saving a lot of money may initially seem like a daunting task, especially if you’re trying to save for a down payment on a home. It may seem like a very difficult mountain to climb and a lot of money to earn, but just saving a small amount each month over time can add up to huge savings.
Saving money doesn’t have to be a drag. In fact, it can be fun and rewarding! Done correctly, you may not even realize you’ve cut back on things. In this post, I’m going to talk about how to save money while not feeling like a scrooge and not feeling like you are limiting yourself.
Here are some tips:
- Create a “Fun Fund”
- Set-it and forget-it savings
- Splurge in the kitchen
- Treasure hunting
- Free entertainment
Create a “Fun Fund”
When it comes to budgeting, it’s easy to get bogged down in the nitty-gritty details about cutting things. Budgeting usually focuses around on reducing, cutting, downsizing, and removing – this creates a negative feeling toward saving and budgeting. The experience of saving and budgeting should be rewarding.
While it’s still important to set a budget for expenses and stick to it, you can also create a “Fun Fund” that’s specifically designated for things you truly enjoy. Maybe it’s a monthly movie, a date night with your partner, or a new outfit. By setting aside money for something you truly look forward to, you’ll be more motivated to stick to your budget in other areas and be more thoughtful about what you spend your “fun fund” on.
Set it and Forget it Savings
Setting up auto investing can make saving money feel like a breeze. By automating your investments, you don’t have to worry about remembering to set aside money each month or make difficult decisions about where to invest. You save time by not having to log into accounts, move money around, and then decide what to buy. By putting your saving and investing on auto-pilot, you are paying yourself first and making savings a consistent routine without having to think too much about it.
Splurge in the Kitchen
Eating out is expensive, but cooking at home may initially seem boring and not as exciting. Instead of sticking to the same old recipes, challenge yourself to try new things. Not only will you save money, but you’ll also get to flex your creative muscles in the kitchen. If you cut back on dining out or limit it to once a month, you can spend a little bit more on quality ingredients or new ingredients. Treat-yo-self to some nice wine, some crab, or some fancy Chilean Seabass.
Treasure Hunting
If you’re looking to get some furniture, instead of shelling out a lot of money for brand-new furniture, see what gems you can find at thrift stores or antique stores. I’ve found incredible pieces of furniture at places like Habitat for Humanity and Goodwill for fractions of the cost of new furniture without sacrificing on quality. Finding that gem of a dining table at a used furniture store can be an adventure and a rewarding experience, especially if you’re going to save hundreds of dollars.
Free Entertainment
Who says you need to spend a lot of money to have fun? Look for free or cheap entertainment options, such as community events, concerts, and festivals. Take advantage of free days at museums or enjoy a picnic in the park. Some of the most fun activities I’ve done have just involved going for a hike and taking in nature and fresh air. Another idea is to host a game night with your friends or family. Bust out the board games or card games and enjoy some friendly competition. Bonus points if you make your own snacks and drinks!
After you’ve amassed your small nest egg, don’t keep that money in cash under your mattress. Make sure you invest it in a combination of mutual funds, ETFs, CDs, or bonds to prevent your savings from getting dwindled by inflation.