Bailey Shivers, Pi Delta/New Mexico State U
Courtney Given, Delta Alpha/U of Tennessee–Chattanooga
Lauren Whorley, Pi Epsilon/
Dear Bailey, Courtney, and Lauren,
Honestly, who doesn’t want to save money?
(And, have enough for the present and the future!)
You are smart to be concerned with saving
now. Whether you earn hundreds or thousands
or millions, you will want to preserve part of that
money for whatever reason. Saving is always a
good idea. If you are able to incorporate some of
the tips below, you will be well on your way to a
nice pot of savings within months.
1. Spend less. Easier said than done, but it is
the simplest way to start saving. Review your
monthly expenses and see where you may be over
2. Budget. It is essential for everyone to have
a budget. In order to figure out what the ideal
amount you can spend per month, you will need
to keep track of your earnings as well. You must
know what is coming in each month in order
to determine what is going out and where your
money is going.
3. Pay off your debts. Some debt is understandable
(mortgage, car loans, etc), but excessive
credit card bills and debt are not. You must clear
the excessive debt to have some sort of savings.
4. Smart shopper. Become smarter when making
purchases. Look for sales and special offers
when shopping. Become a bargain shopper.
5. Eating in. Become a better cook instead of
eating out or ordering in. It’s a great way to save
money and can be fun and healthy.
6. Bulk. Try buying non-perishable items in
bulk when you can. Toilet paper, pasta, soap,
detergent, etc., can be bought in bulk and helps
save you money on everyday items.
7. Buy used. For example, buy used books or
go to the library. Borrow books when you can,
especially if you know that you won’t need the
book long term.
8. Grocery shopping. When shopping, don’t go
up and down every aisle unless you absolutely
have to. The longer we stay in the grocery store,
the more we tend to buy!
9. Pay your bills. Don’t procrastinate when it
comes to paying your bills. Pay them on time and
avoid late fees.
10. Save. You must learn to save money, but
make it a point to set aside “X” number of dollars
each month. This money can then be used
as your emergency fund or in the event of something
unexpected. Regardless of what comes
up each month, make sure you set aside some
money for your savings.
11. Impulse buying. Avoid it! It is all too easy
to walk by an item and feel like buying it, when
in actuality, you don’t need it. Impulse buys can
make up a great deal of the excess expenditure