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How to Save Money on Weekends 2011-05-21 03:05:36

5 Weekend Spending Strategies For More Ways to Save

Budgeting's a full-time job. So, even if your Monday through Friday work routine is at rest on the weekends, your smart spending habits never should be. The truth is, it's easier than you think. Sure, there's a little discipline required, but with these savvy solutions and smart tips, spending less and banking more is easily within reach.

  1. Carry Cash Only — For starters, go cash only and keep your spending limited to the money you have in your wallet — no credit card charges allowed.
  2. Calculate a Purchase in Hours Worked — Break down any prospective purchases in terms of hours worked. Believe me, you'll start to think twice before splurging when you think how many hours you've worked for that paycheck.
  3. Try One of My Cost-Saving Social Ideas — By now, Spring is full effect. So, take advantage of the outdoors; plan a hike, a walk, or a picnic with friends and forget browsing the mall altogether.

For more weekend saving ideas, keep reading.

  1. Cool Off Before You Commit to Spending — If you can't avoid the shops, then shop smart. If you're smitten with an item, wait a bit. Put it on hold and think about it — you might just find that with a little distance it wasn't worth your money.
  2. Maximize Your Memberships — Cash in on the fun resources you already have. Take advantage of a fitness class at the gym with friends or a Netflix movie marathon at home for a change.
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ht1979 ht1979 5 years
I recently did en exercise that's helped me put things in perspective. It ties into #2 mentioned in the post but takes it a little further. I broke down my take-home salary into a daily amount (I get paid every two weeks, so I took my take-home 2-week income and divided it by 14 to get a daily amount). I also calculated my "must-pays" (non-discretionary things like mortgage, property tax, car insurance, student loans, utilities, other bills, etc) on a daily basis. For example, my ~$1500 monthly mortgage costs me ~$50 per day. Once I calculated all of my daily amounts, I netted all of my "daily expenses" from my calculated daily take-home pay. This allowed me to come up with a number, on a daily basis, that is how much extra money I have left over, on a daily basis, when I take my take-home pay and net out my "must-pay" built-in expenses. It was actually substantially lower than I'd expected it to be, so I now think of expenses in terms of this number (e.g. That shirt is equivalent to one full day of discretionary spending - is it worth it to me). I find that just thinking of it in terms of the hours of work it would take for me to earn the money is only looking at half of the equation given that I have so many fixed costs that come out of my pay. Plus, you can also build in a savings amount to your fixed expenditures, if you're someone that saves (or aims to) on a monthly basis.
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