Sadly, not every author or artist is lucky enough to marry rich, so here are some saving tips for those who’re struggling to make ends meet. 🙂
First off, I’m not an accountant, so please keep that in mind, but I do know how to squeeze every cent for what it’s worth, and seeing as the world economics is circling the drain, saving money has become a crucial survival tactic. For creative types, who mostly work on a commission/royalty basis and are subject to the buying whims of the general public, it’s especially tricky to maintain a steady income let alone save money. What’s worse is how, when we get into our ‘spending routines’, difficult it is to break the habit.
This is why I decided to share some of my tried and tested saving tips, because I’ve been there …
Saving Tips
It is possible, though, and you don’t have to bend over backwards or go cold turkey to save up for when the leaner months hit you.
- LIMIT YOUR VICES: We all have something we love that we don’t want to give up. It could be expensive coffee, our favorite wine, a monthly spa day, or books to add to our ever-increasing TBR list. These expenses add up over time, and unfortunately with the constant price hikes every day items are just getting more expensive. I’m not saying you have to cut out everything you love, but moderation is the key to saving money at the end of the day.
For example: I enjoy pod coffee (don’t judge), but it costs me almost R10.00 ($0.70) to brew a cup. There are usually ten cups of pod coffee per box, which adds up to (I’m rounding off here) R100.00 ($7.00). Keeping that in mind, my instant coffee brew of choice costs around R85.00 ($5.98) a bottle, and I can make around sixty-five LARGE mugs out of that.
So, what’s more sustainable? The instant coffee, of course! Does that mean I have stopped buying pod coffee completely? No. Pod coffee has become a treat in the house, instead of the ‘go-to’ brew. It saves a lot of money, and it’s probably saved me a few dress sizes, too.Think about your vices and cut back on them just a bit to save some cash.
- EMPTY OUT YOUR WALLET EVERY NIGHT: This is one of my personal favorite saving tips for any creative. Every night, I grab my husband’s wallet (along with my own), and empty all the change into my little money tin. It’s just a small Pilchard’s tin I cleaned up and decoupaged, which now stands in the kitchen—nothing fancy. Anyway, when the tin is full, I sort the change out into those clear bank baggies. The half-filled baggies go into a drawer—waiting to get filled up—while the full baggies are hidden in a safe place until I have R1,000 ($70). Then, I take them to the bank. Simple. 🙂 I know all this gathering and sorting of change sounds like a lot of work, but every cent adds up. Since 2012, I’ve been able to pay for 2 local holidays, thanks to hoarding change. Every cent counts!
- BUY IN BULK: This one is an oldie, but it works as far as saving tips are concerned. I don’t buy everything in bulk, though, because obviously food goes off after a while. But I do buy most of my cleaning products in bulk—usually a year’s worth of whatever product—because I save plenty of money that way. The trick to buying in bulk is to know whether you’ll be able to use up whatever you’ve bought before the expiration date comes, and to shop around for the best deals. It takes time, yes, but I have a year’s worth of soap, laundry powder, laundry detergent, and apparently generic electric toothbrush heads (I bought these on a whim on Black Friday, and I’ve saved a lot of money as a result).
- DON’T FALL FOR SALES: I don’t trust chain stores anymore. Wanna know why? I took a screenshot of a product I really wanted a couple of months before Black Friday. I don’t know why I did it, I just did. Then, just a few weeks before Black Friday, I took another screenshot of the item (it was priced higher). But here’s the hilarious thing: On Black Friday, the product was exactly the same price as the first screenshot.Of course, this is South Africa where everyone seems to be corrupt, so it may be an anomaly, but it’s opened my eyes a bit to chain stores. Be wary when it comes to so-called sales. Don’t go overboard on spending either.A little retail therapy is good for the soul, but a lot of retail therapy may force you into foreclosure.
- DON’T BUY CLOTHES ON A WHIM: Fashion is a seasonal expense for many people, but you don’t have to break your bank to look good. Buy ‘investment pieces’, instead of clothing that’ll be outdated when the season changes. Steer clear of prints and patterns (prints and patterned pieces are never fashionable for long). Give out a little extra on good quality fabrics that’ll last you a decade, instead of buying something for cheaper that only lasts a year. Keeping your wardrobe contemporary is key to saving money!
- SELL WHAT YOU DON’T USE: A good way to make a little extra cash is to sell what you no longer use. Do you have a whole lot of DVDs and Blu-Rays you no longer watch? Sell them if you can. Do you have books you’ve already read and won’t read again? Sell them! The junk you’ve hoarded are stashed around the house, believe me, and other people are willing to buy it.
- COOK FOR YOURSELF: In a world where it’s easier to just buy dinner than make it at home, our wallets have started to suffer. Takeout is more expensive than home cooking, because labor is added into the cost. I’m not saying change your diet so drastically that you can’t buy a burger when you’re not in the mood to stand in front of the stove, but try to cook more often.
- CUT BACK ON SUBSCRIPTION SERVICES: Subscription services add up quickly, and sometimes there is fine print in T&Cs that can eat away at precious cents if you’re not careful. Make a list of your subscription services and unsubscribe from everything you don’t need, aren’t using, or can find somewhere cheaper. I’m talking specifically about box subscription services (do you really need those niche products?) and streaming services (are you really using Netflix, Hulu, Amazon Video, Vevo, etcetera?). Become aware of what you actually use and cut the rest out of your life. For example: Pick between Cable and Streaming. What can you afford? What do you use more often? Save money by knowing your habits.
- TRY USING AN APP TO KEEP YOU ON TRACK: There are so many cool apps available these days to help you track your spending. I prefer Savings Goals, particularly because I can track my savings. Also, it’s free. Do some research and find the one that’s right for you. That way you can watch your sacrifices accumulate.
I tried to keep my saving tips as universal as possible, but every country has its own issues and there are ways to save more by considering socio-economic circumstances, too. For example: In South Africa, our houses don’t have heating (we don’t need it, because even our winters are relatively mild), but we do have an electricity provider that is corrupt and never works. So, try to look up further saving techniques that will help you personalize your cutbacks.
How you save is really up to you, as long as you start putting a little something-something away for those unexpected, albeit inevitable, rainy days.
