52 Week Challenge: Week 21: Seal Up Those Leaks

It’s almost halfway through the year and I hope these ways to save money¬† tips are helping you to be more frugal in your spending. If you are following along with the 52 week money challenge, you should already have just over $200 in savings if you are doing it forwards. Isn’t it amazing that you have been putting less than $20 a week into your savings for this long and you already have this much? To kick off this week, put $21 in your savings or, if you are doing the challenge in reverse, put $33 dollars in.

money save Way 21

 

 

52 Money Save Ways: Week 21: Seal Up Those Leaks

When I mean seal up the leaks, I am not talking about the ones you might do when maintaining your car or your home, although that wouldn’t be a bad idea either. I am talking about the spending leaks we all have. Those little things we justify spending money on or extra fees we are paying that are basically creating a budget that is hard to maintain.

Here is an excellent way to see where your money leaks are and how to stop them.

Keep receipts for an entire month. I mean receipts for everything. If you get a coffee at the drive through, ask for a receipt. If you buy a candy bar, get a receipt. You will save all receipts you get for the month so you can do the second part of this. Don’t change your spending habits for this month. You need to have a good idea where your money is going in an average month.

When one month is over, separate your stuff into categories. Some examples include: Bills, Dining out, Groceries, Small purchases (such as that candy bar I talked about earlier), car care/gas etc. Add up each category to see how much you are spending.

Now comes the part of honesty. You might be surprised to know that you spent $30 on a pop a day habit. It’s OK. Don’t beat yourself up. Just find ways for you to fix these areas. Make sure you look over grocery receipts as well. Look for things you may have wasted money on or could have used a coupon on and fix them. You will be amazed at what you can save by just taking a fine-toothed comb over every penny you spent last month.

 

For previous weeks, check out the following links and be sure to check out the 52 Week Money Challenge tracker!

Tatanisha
Thanks for stopping by! I'm Tatanisha! When I'm not blogging here on the latest Meijer Deals, our latest travel adventures or stuffing my face with a budget-friendly recipe, you can find me over at A Worthey Read! I love to do simple DIY projects, drinking wine, watching the latest reality show or just having fun with family and friends. I'm always looking for ways to save money, but value quality over quantity. I enjoy reading and also finding out ways to keep up with the latest social media changes!
Tatanisha

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