5 Ways to Save Money

This is a sponsored conversation written by me on behalf of SunTrust Bank. The opinions and text are all mine.

I definitely know what it’s like to worry about money. I mean, who doesn’t. No matter who you are or how much money you have, you end out worrying about it. My husband and I got married a few months after we graduated from college. We’d been dating since high school and were happy to start our lives together. But very quickly after we got married, we found out we were expecting a little boy. We gave birth to our son Benjamin 10 months after our wedding.

We were definitely not in a place to have children yet, but we really fell in love with our little guy, and enjoyed being parents much more than we had ever expected. However, money was especially tight, and we learned a lot of ways to cut corners and save money. One of the biggest ways I found is to cut down on expenses that are daily, weekly, or monthly. $20 a month doesn’t seem like much money at all (maybe that gym membership you rarely use), but over the course of the year it adds up to $240.

Here are 5 simple ways to save money, that have been very effective for us:

1. Stop getting drinks out consistently. It’s easy to make a trip to Starbucks a fun part of your daily routine, and $5 seems like such a small amount to pay. However, if you spend $5 a day, it adds up to $1825.00 over the course of the year. That’s a lot of money! You could even still go once a week and save a whole lotta money. It’s important to look at how much you’re spending on the little things over time to decide whether or not it is worth it.

2. Cut cable and home phones. A $60 a month cable bill adds up to $720 over the course of a year. We pay less than $20 a month for Netflix and Hulu Plus, and never run out of things to watch. If you have a specific TV show that’s not available there that you want to watch (like Mad Men), you can purchase the season on Vudu and watch it as it’s airing. Home phones are also generally unnecessary these days. A part of me misses the thrill you’d get answering your home phone (before caller ID of course), not knowing who might be on the other line, but times have changed and most people don’t have any need for a home phone.

3. Skip seeing movies in the theater. It’s so easy to get caught up in the excitement to see a new movie, but if you’re looking to save some money, it’s a good place to start. We try to wait until the movie goes to the dollar theater or Redbox. It’s even MUCH cheaper to buy the movie. Of course there is something fun about seeing a movie in the theater, so every so often we go see a movie the kids are especially excited about at the theater on a Tuesday (discount day). Maybe come up with another fun free activity to do with the kids instead – like playing in the back yard with the hose.

4. Shop for clothes on clearance racks and outlet malls. This is super obvious, but I’ve had a lot of success (especially for the kids) with finding great clothes for less than $5. Target and Old Navy often seem to have a lot of great clothes on clearance. I also love the OshKosh and Carter outlets nearby. The best things are the clearance racks at the outlet malls!

5. Make things instead of buying them! If you know me at all, then you know that I pretty much live by this philosophy. From jewelry to gift boxes, you can save a ton of money by making things yourself. Whenever you’re about to buy something, ask “Could I make something like this for less?” Not all projects are worth it though. Don’t forget to value your own time. Maybe it’s not worth a 10 hour project in order to save a couple of bucks. And an added bonus – your things will be more original and unique.

At SunTrust Bank their purpose is lighting the way to financial well being. They help you get organized, make a plan, and stay on track so you can get and stay in control of your finances. When you are confident about your money, you can save for your goals and splurge knowingly on what matters most to you.

To get started visit suntrust.com/getorganized. 

This is a sponsored conversation written by me on behalf of SunTrust Bank. The opinions and text are all mine.