3 Brilliant Ways to Painlessly Save Money Each Month

Do you want to save money each month but find it tough? Here’s 3 ways to reduce your spending without feeling deprived!

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If you ask 10 people what their new year’s resolution is, chances are, most of them will have a goal related to improving their finances somewhere on their list.

When it comes to saving money each month, the issue isn’t that we don’t want to save money. The issue is that saving money requires discipline and often sacrifice.

But is there a better way? Could we get to our financial goals without feeling deprived?

I believe it’s possible.

Here are some strategies that have helped me save money each month, curve my spending, and achieve my financial goals!

Go Gradually

When I have a financial goal in mind, I approach it like I approach a new exercise program. I implement changes gradually.

Instead of signing up for the local gym and committing to going every day even though you haven’t exercised in years, starting out with a couple of workouts a week and working your way up will ensure your mind and body will more easily adapt to the new routine.

What would this look like in your finances?

Say your goal is to save money each month and accumulate $1,500 in a year.

Commit yourself to a number that feels just a little challenging right now.

If you know you can comfortably save $100 each month, challenge yourself to save $120.

However, if you feel like you won’t miss $500 a month, then aim to save $600.

Stretch yourself a little at a time. Once you feel comfortable at that level, aim to increase it again, and again, until you get to where you’d like to be.

Don’t Deprive Yourself

If you’ve ever been on an extremely strict diet, you know that you can only maintain it for so long.

I’m sure there’s some of you out there with enough will-power to succeed at extreme dieting, but most of us will end up reverting back to our old eating habits at some point (yo-yo dieting anyone?).

In fact, there’s plenty of research showing that fad diets can even be counterproductive. To explain how, here’s a short video from the Mayo Clinic:

When it comes to how to start saving money and other finance goals, the same concept applies.

Earlier last year I was determined to buy a house.

I needed to save up some money for the closing costs and the down payment, but I knew that if I tried to squeeze out Every. Single. Penny I could towards the home purchase, I would eventually give in to some unnecessary purchase.

I may have even justified it with “I’ve done so well” or “I deserve it for all my hard work”.

While that may be true, I could have easily wiped out a large chunk of my progress with that mindset.

Instead, I left some room for “fun and entertainment” in my budget.

Of course, I kept it to a minimum.

Look for opportunities for savings everywhere, but find comfort in knowing that you can still go see a movie without feeling totally guilty about it.

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Here’s some of the things I did to save money each month:

I cancelled any subscription I could do without

I postponed all large purchases

I went to the movies on Tuesdays (for $6 a ticket) or to the first show on Saturday mornings to get an Early Bird discount.

I ate out only twice a month or three times if I had coupons

I only drank water (I saved money AND got hydrated – win win!)

I involved my son in the process and made it into a challenge, so he wouldn’t derail my budget with his googly eyes at the store

I took advantage of free events offered by my local government

I limited my trips to the store to only when it was absolutely necessary and I used coupons for everything I could.

I also surrounded myself with people who were willing to encourage me along the way.

If you’d like to learn more about my savings and budgeting strategies, you can download my free budgeting guide here!

Use SMART Goals

There’s a saying that goes “A Goal without a plan is just a wish”.

When your financial goals are S.M.A.R.T – Specific, Measurable, Attainable, Relevant, and Timely – your mindset changes, and your goals become more than just a wish.

When you’re tempted to buy something out of impulse, your SMART goal will remind you that it’s not a good idea.

You give your mind something concrete to fall back on.

This SMART Money Goal Planner can be a great help, and it’s geared towards setting smart goals 🙂

So how do you get started? An easy place to begin is by writing down three financial goals.

One short term goal, one long term goal, and one high-impact goal (A goal that will help you achieve other goals).

Your short-term goal could be something like “I want to make $5,000 more than I am now within a year”, or “I want to save $400 each month”.

Then, your long-term goal could be something like “I want to have $50K in my 401K account in 5 years”.

Your high impact goal could be “I want to get a higher degree in 2.5 years”.

So how about it? What would your goals be? Feel free to share them in the comments below!

Final Thoughts

Making changes gradually will give your mind time to adapt to the new reality.

Leaving a little room for what’s important to you in your budget will ensure you don’t feel discouraged, and concrete goals help you stay focused.

By implementing these simple strategies into my financial goals, I’ve been able to save money each month , get out of debt, and completely turn around my finances without feeling deprived.

If you’d like to learn more about how I was able to go from zero to $50K savings on one low income, download my free budgeting guide here!

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