We all want to save money, we all have something we strive to have. Weather it be because we need a new car to get the kids to school or a vacation to Tahiti, there will always be something worth saving for. A few years ago, my boyfriend and I decided that we were ready to buy a home. We had decided to save for a year and then buy after that. We were living with his parents at the time rent free at the time. It was very important for us to be supported by our family during this year, because it was hard not being able to spend money on going out. Since the only cost we had were, car insurance, car payment, phone and gas. (Oh boy, did I take that for granted). We had each made about $13.00 an hour and worked 40 hours a week. We each made about $1000 a month, and since we didn't need much to live off of we decided to save $850 each a month. We both worked close to home and didn't have to pay for no more then $200 bills each, we were able to save the max amount possible. After the year we were able to save, $21,000 for the house. My recommendation for anyone who is trying to save money is to figure out how long you need/ want to save for, if that is not applicable then figure out how much money you're needing for the new car or the family trip. Once you get that figured out, take a look at your income and expenses to see the amount you and your family are most comfortable putting away each month. Another hack is to have your employer automatically put am exact amount each check into a separate account from which your bills come out from. This worked really well for us and were able to meet our savings goal for the year. I understand that not every adult is able to live with Mom and Dad for a year so just try to cut back on expenses, carpool as much as possible, eat in and get a roommate. Before you know it you'll have a good chunk of money in your savings account!
Now that I do have bills and house expenses, I haven't been able to save $1700 a month, but starting in 2017, I will be starting a 52 week saving's challenge, stay tuned so you can join me too!
