2 Creative Money Saving Hacks That Can Get You Started On Your Saving Journey

I promise you this is not a cheesy ‘how to make thousands of dollars a month’ article nor am I giving secrets on how to be a filthy rich freelancer or entrepreneur. You may be well aware of these saving methods, but these specific two strategies have been the most fruitful for me. Although one approach does not fit all, there is a chance that this information can be beneficial to you if you are looking for a fresh approach when it comes to managing your money.

Keep in mind

I am not a financial advisor. Just a human walking on two legs like you, trying to navigate my way through a mysterious path called life. These are different ways I tried to get better at saving. It’s something that has helped me to become less of a spender and more of saver. Not for a good time but for a long time.

I’m not saying I don’t get tempted to buy things, but when you have a clear idea of what’s worthy of investment and what’s not, you can evaluate things logically. I don’t see everything and want to buy it. I window shop and say, “oh that’s nice, but I’ll grab that another time.” Was I like this at first? No. But overtime it took serious discipline (which I will discuss later in this article).

There’s no promise that these methods will be suitable for you, but you’ll never know that unless you try. These hacks can be effective for anyone who is willing to be persistent. If you’re new to saving money it can get you started on your saving journey. If you’ve been saving, perhaps this information can bring forth a new strategy that can be implemented.

Anyways, here goes it.

100 envelope challenge

The 100 envelop saving challenge is a clever way to stack up some extra cash. For this saving method, you need 100 envelopes and a box of your choice. I chose a storage box, and I found it to be effective. Even a shoe box or a place to store your envelopes is fine. The only reason why I suggest using a box, is because the envelopes and the prices are hidden. You’re less tempted to grab one.

Doing so may lead to purchasing something. Sometimes when money is out in the open, we tend to instantly want to put it to use. Such as the money in our wallets, for example. Everytime we open it, there goes that urge to spend. Once you have 100 envelopes, you can then write $1-$100. Meaning the first envelope will be $1. The fifth envelope will be $5, the tenth will be $10, and so on. I attempted to spruce this challenge up with colorful envelopes and stickers. Below is a image of how I did it.

I found extra stickers in my home and decided to double seal the envelopes. You can too if that’s what you decide. After you listed every number, you can start your journey of saving. It took me a year to reach a total of $5,200. The original amount you’ll make is $5,050.

I decided to play with the rules a little and added extra money to each envelope. So to be clear there's no wrong or right way to do this. If you wanted to save 200 envelopes you would make a total of $10,100. You can do as you desire as long as you’re setting realistic expectations of what you are willing to save. You may need to double down on shopping expenses or eating out at your favorite restaurants. All of this comes with serious discipline that can sometimes be challenging.

Everyone has their own system and structured flow of income. Your goal may be completed in a few weeks, or a few months, or a year later. Personally, I took the little change I earned and invested money into my savings 2-3 times a month (4 times if I was lucky). You can save your money daily, weekly, or monthly. Base things off of your payment schedule.

This tactic can be helpful if you want to pay off loans, purchase a car, go on vacation, put a down payment on a home, invest in stocks, start up a new business, or whatever your financial concerns may be.

How it worked for me

I was able to reach my financial goal with the 100 envelope saving challenge. I enjoyed doing it because it wasn’t a typical way of storing your money. The creativity of it is what I enjoyed the most. I’m in the process of repeating this strategy each year.

At this point you’re probably stunned, thinking this was something I did perfectly without fail, but that’s where you’re wrong. I slipped up a few times by taking money out in times of wants and needs. Luckily I ended up replenishing my savings back because I felt guilty. Was this strategy worth it? Absolutely because it was more than I’ve ever saved before. I tried the simple way by putting money in my savings in my bank account, but that was also a fail because I use my card more than regular cash.

Businesses are starting to accept cards over the paper bills anyway. So why not save what can’t be spent physically. Once you reach your goal, you can then store it digitally or however, you want.

Zip lock bag saving

The Zip Lock Bag Saving is a pretty simple method. It’s similar to the 100 envelopes but with a slight few differences. The 100 envelopes method was a trend all over the internet but using zip lock bags was a random strategy I came up with in my early teen years.

I started by thinking of all the things I genuinely wanted or needed to do. I used five zip lock bags with the white label entry. At that time, I decided to write down my needs on each zip lock bag: emergency, college loans, and buying a car. I then wrote down my wants: traveling and a photography camera. This helped me to be more specific with the things I truly needed and the things I wanted.

When performing this, I would split up what I earned in each bag, seal it, and store it in a box. I didn’t have a specific total amount in mind. I only knew how much certain things would cost like college loans and a car. I continued to pile up money in each bag. I think what I liked the most about doing this was the detail that comes with it. Surprisingly I ended up saving around 2k. Although I was tempted, I didn’t spend how I did with the previous challenge. I didn’t make a full amount to accomplish every goal, but I was able to accomplish 2-to 3. Honestly, I’d take some goals over none any day.

Understanding wants & needs

Wants and needs are two different things. Many of us tend to think the two are similar but there is quite a difference in both of those words.

Remember every little thing you place your eye on doesn’t have to be bought because most of the time you don’t need it, you just desire to buy it. And don’t get me wrong, things can be so alluring until you go flat broke, but you don’t want that. That’s where you have to draw the line. Ask yourself, “Is this a need or a want, and do I really need/want this right now, or am I going off of temptation and impulse?”

Most of the things we want to buy are based on status. As human beings, we will find ways to make ourselves look better whether that be our appearance, our home, our car, etc. In other cases, we buy things to feel better too because we may have had a bad day at work or went through a tough breakup.

When it comes to things we need to buy it’s the things that sustain us like food, water, clothing, shelter, and safety. An example can be your gas tank is running on empty so you need to refill it back up. Investing in gas can benefit you because you work, and you need to get around. Another example can be your fridge is low on food so you need to go grocery shopping. Doing so can benefit you because you are avoiding hunger.

Concluding statement

If you’re someone who wants to save, know that it won’t come easy. You have to be patient because saving can take time. Everywhere you go is an opportunity to buy something. Even if you’re scrolling through social media, there’s always an enticing ad or photo with what you don’t have. Then you’re dying to need this or want that. Planning now and taking the time to invest in your income for better sustainability is never a bad thing. This is something that can help you in the long run or when you’re in jam with no money. The pandemic had many people in a jam with no money and they were turning to internet stuff like this.

I’m just stating the facts. Whether you use these methods or not, putting a few bucks to the side won’t do any harm. The 100 envelope challenge and the zip lock bag challenge was a chance for me to experience something and put it to the test. It wasn’t perfect, but it was worth it. Why not give it a shot.