If this is your first time here, Molly’s Money is a regular series I write on this blog that includes ALL things personal finance – debt management, budgeting, home buying, savings,investment, etc. I am NOT a financial advisor, but I am married to one! These are just things that I have learned over the years as I struggled with my own personal finances and ultimately, became debt free in 2012. Got a question about money that you want answered? Leave it in the comments below or email me!
Over the last (nearly) four years that I’ve been writing this Molly’s Money personal finance series, I have written quite a few posts on saving money, ways to save, etc. etc. etc. Now that we are in tax season, I’ve been thinking again about other ways to save throughout the year that we might not normally think about. (SIDE NOTE: here’s an oldie but goodie post on what to do with your tax refund!)
As we head into the warmer months, we might want to save up for a weekend getaway or maybe a splurge purchase like a nice bag or new pair of shoes. In any event, sometimes we want to save for “fun” things and not just the necessities. If that makes any sense…
My husband and I got to brainstorming some unique and “alternative” or outside-of-the-box ways to save money and I thought it would be fun to share some of those ideas with you!
7 Unique and Creative Ways to Save for Your Fun Fund
1. Put your pocket change in a piggy bank every day.
I use cash a lot in my day-to-day spending because it actually helps me curb unnecessary purchases. When you’re spending cash, you’re less likely to blow through it quickly. So, I get a lot of loose change… One thing you can do is put your loose change in a jar or piggy bank daily or weekly. Over time, it really adds up. In fact, John and I do this regularly and as we were preparing for Amos’s arrival and planning his nursery, we gathered all our loose change we’d save and had over $80 to put towards something in the nursery. Super easy!
2. Take $20 (or some other designated amount) out of every paycheck and immediately stash it away for a “fun” thing.
If you know that you are going to immediately take X amount of money out of EVERY paycheck and put it towards that fun purchase, you’ll be more likely to stick with it. Just like you tithe and pay bills and set aside money for retirement, put a small amount each paycheck in that fun fund and the money will add up quickly!
3. Ride your bike / carpool / take the bus to work for a week / month / six months / year.
Find ways to save money on gas and put the money you WOULD have spent on gas in your fun fund.
4. Give up an expensive habit.
This one is pretty self-explanatory. 🙂
5. Put yourself on an eating-out ban.
Do you eat out a lot? Ban yourself from eating out for a week, a month, six months, etc. Bring your lunch to work. Cook at home. Get creative. You can save BOATLOADS just by not eating at a restaurant!
6. DIY your own bath and household products.
Another one that’s self-explanatory.
7. Go old school and get a library card.
Love to read or watch movies? Instead of renting or buying new books or movies, go old school and get a library card! Your local library has TONS of books to read (obviously) and you can also get access to movies, magazines, etc. to rent and watch for FREE! 🙂