How Do I Save Money, And Still Have A Life

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Think back to that first paycheque — it felt amazing to finally have your own money! You could go out and buy things you wanted, celebrate with friends, and enjoy life. Money was easy to spend because another paycheque was coming soon. Fast forward six months or a year, and you’re broke. Can you even remember what you spent your money on? Do you have anything to show for it?

Yeah, I get it — you were living your life, building memories, and creating experiences. That’s important, and it’s priceless. But there’s no reason why you can’t have both: enjoy life and build some savings too.

 

Focus on Meaningful Experiences

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Think back on the moments that mattered most to you. Was it the road trip you took? Going to a concert? That new jacket you bought? Start to focus your spending on the experiences and things that actually mean something to you, and start cutting back on the stuff that doesn’t.

 

Save Money While Enjoying the Things You Love

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Look for ways to save money on the things you enjoy. For example, if you love going out to restaurants with friends, think about why you enjoy it. Is it the restaurant vibe itself, or is it spending time with your friends? If you enjoy the atmosphere, you can still go, but try going out less often — maybe every two weeks instead of every week. If you normally spend $100 each time you go out, see if you can cut that back to $50 or $75. Do you really need that extra drink or appetizer? Could you pick a more budget-friendly restaurant?

If it’s more about spending time with friends or family, consider hosting at home. Invite your friends over and make it a potluck. Even better, make it an event — everyone can pitch in for groceries and cook together. You can have a 5-star meal on a hotdog budget and still have loads of fun and build better memories.

 

Take a Hard Look at Your Stuff

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Although this can apply to anything, let’s use clothes as an example. Are clothes your weakness? Do you find yourself buying on impulse at the mall? Take a close look at your wardrobe and start pulling out the things you rarely wear. Clothes, shoes, jackets, bags, jewelry — everything. Then ask yourself: why did I buy this? Was it on sale? Did I need a pick-me-up? Was it just trendy? Now, the scary part: add up roughly how much you spent on that pile of unworn clothes. That’s a lot of wasted money.

Start treating your wardrobe and the money you spend on it seriously. Did you know, on average, a person spends 3-7% of their income on clothes? Set a target and stick to it. For most people, 4% is a good goal. If you make $40,000 a year, that’s $1,600 annually or about $130 a month. That’s plenty, and it helps keep your spending on track.

 

Shop Smart and With Purpose

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Now, look at what’s left in your closet. Think about why you actually like each piece — is it the style, the material, the fit, the versatility, or the brand? Next time you’re shopping, ask yourself if the item matches your criteria for what you like. For example, if you like machine-washable fabrics, avoid items that need dry cleaning or hand-washing. Even if it’s a great deal, it’s not a deal if it sits in your closet. It might be hard at first to put something down and say, “No, I don’t need this,” but in a short time, you’ll become a pro at it. You will really start to feel good about yourself and your ability to stick with the plan.
Take it further by assessing what you actually need. Do you need work clothes, winter gear, or a good pair of shoes? If you already have 10 pairs of jeans, you probably don’t need another one. Shop only for items that complete your wardrobe. When you see a sale, ask yourself: “Do I really need this?” — and the answer might be no. Treat you’re shopping mechanically and not emotionally. Have a list of “why I like it” and “what I need” — and stick to it. If it doesn’t fit the list, don’t buy it. Don’t justify it, either.

 

Go Shopping — The Smart Way

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Now the fun part — go shopping!

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Check out thrift and consignment stores — go to a variety of stores in different neighbourhoods. Each one will have different and unique treasures for you to find. Make it a friend’s day out.

 

There are plenty of online platforms for gently used items like The RealReal, ThredUp, Poshmark, Depop, and eBay. Always check details like shipping costs, return policies, and seller ratings before you buy.

 

Use Google Search to help narrow down your search. Apps like Google Shopping, ShopSavvy, or PriceGrabber can help you find specific items or similar ones at lower prices.

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Hunt for bargains, buy at the end of the season, use price comparison websites like Google Shopping, ShopSavvy, or PriceGrabber, and wait for sale days like Black Friday.

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Use coupons for extra discounts on sites like Honey and Rakuten.

 

Once you take the impulse out of shopping, you’ll be amazed at what you have and how little you spent. You’ll be bragging to all your friends!!

 

Apply This Strategy to Other Areas

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The best part? This strategy works for more than just clothes. Use it for impulse buys like beauty products, groceries, home décor, tech gadgets, fitness gear, and more.

Not only will you be helping your wallet, but you’ll also be making a positive impact on the planet.