A personal finance writer with several years of experience has shared a series of savings habits she personally uses. The writer stated she has read and written countless articles on making, spending, and saving money.
Over the years, she has applied some financial advice to her own finances while leaving other tips aside, noting that financial advice is not one-size-fits-all. She expressed resentment toward the idea that feeling financially strapped is normal, recalling that past attempts to deprive herself and direct most earnings to savings actually reduced her motivation to save.
The writer believes the best savings strategies find a balance between caring for the future self and ensuring the present self does not feel overly deprived. She has implemented several key habits that fit her lifestyle.
One habit involves using a high-yield savings account (HYSA). The writer noted that money in a wallet, under a mattress, or in a traditional savings account does not grow much and can lose value to inflation. A HYSA could earn up to 4% APY, with interest compounding. She advised reading the fine print for fees, minimum balances, and accessibility before opening an account.
Another practice is setting up automatic contributions from her paycheck. She found it effective to save money before considering other spending options, adjusting to having slightly less each payday while her savings grew in the background. She still periodically checks her account balance to boost motivation and feel secure about future goals.
The writer is intentional with financial windfalls like work bonuses. The first time she received a bonus, she considered using it for a vacation but decided against buying plane tickets. Instead, she used a small portion for a splurge and put the rest toward paying off her car loan. This decision rewarded her hard work and advanced her financial goals. Paying off the car freed up a significant monthly payment, allowing extra income for savings, investments, and other debt. She now makes it a habit to treat herself modestly with unexpected money and look for meaningful financial improvements.
She budgets for at least one social outing or activity each week. While prioritizing savings required reducing social outings, she did not cut them out entirely. Investing in friendships and enjoyable activities is also a priority, so she made it a budget line item. Setting aside funds for weekly events gives her something to anticipate and makes smaller sacrifices easier. For example, planning a Friday birthday dinner motivates her to cook at home during the week.
The writer outsources tasks like grocery shopping to save time and money. She acknowledged that delivery services involve subscription costs and fees but said they help reduce impulse purchases, leading to overall savings. By shopping online, she buys only what she needs, plans meals more easily, and reorders groceries without spending as much time. Many apps allow filtering by price or have tabs for sales and discounts. Other outsourced tasks include cleaning, laundry, and gardening. She suggested using freed-up time for freelance work or financial check-ups.
She considers rewards memberships with favorite retailers. If stores or gas stations offer free rewards programs, she signs up, as members often get discounts, cash-back, or special pricing and sale alerts. The key, she said, is to avoid impulse buys and overspending, aiming to be rewarded for planned purchases.
The writer periodically audits her subscriptions. She admitted to forgetting about subscriptions or neglecting to cancel trials before being charged. She reviews active subscriptions on her phone and checks bank statements for others outside app stores, considering whether to cancel based on usage. Setting up alerts for recurring transactions is another option.
She puts potential purchases "on ice" by delaying buying items above a certain dollar amount. When interested in something, she creates a note with the price and link, revisiting it days or weeks later. Sometimes, she still wants the item, which may have gone on sale or been found cheaper elsewhere. Often, she forgets about it or decides it is not worth the price. This practice does not always prevent spending but allows for more informed decisions.
The writer joined AARP, learning early in her career that there is no minimum age for membership. While focused on people over 50, anyone 18 and older can join for discounts on dining, hotels, airfare, car rentals, cruises, and insurance. The annual membership usually costs $20 but is currently on sale for $15.
She rents clothing to save money. As someone in her 20s with many weddings, rehearsal dinners, and baby showers, she often needs new outfits. Renting provides access to high-end pieces without the high cost, especially for special occasions unlikely to be worn again. These services also allow trying different styles to decide which pieces to invest in.
Getting comfortable with saying "no" has been effective and empowering, she said. There is social pressure to spend money unnecessarily. Declining invitations, like skipping a high-end dinner outside her budget or politely refusing a destination wedding invite in favor of sending a gift, can be smart moves. Changing her mindset to see saying no as empowering rather than limiting has made a difference.