Saving money often feels like a chore, and other times can feel impossible. With personal saving rates dwindling for many, it can be hard to know how to save money. However, it is possible to make saving fun.
Whether you are saving for an event, vacation, or building up savings, there are fun ways to save money. And the best part is many of the options will be enjoyable for you, so you are more likely to hit your target quicker. Keep reading for the ultimate list of fun tips for saving money.
Start a New Hobby
It is never too late to learn a new hobby. And it offers many benefits, such as improving your mental health. One of these benefits is that it is an excellent answer for how to save money.
You can pick a hobby that prevents you from spending money. Maybe you can learn to sew instead of paying for a dressmaker. You can quickly mend simple clothing issues or even learn how to make your own clothes.
Other hobbies include baking, cooking, learning musical instruments, or trying a craft, such as woodwork. You will not only spend less on outside services, but you might unlock a skill that can even earn you money.
Work and Item Exchange
If you are wondering how to save money in fun ways, consider exchanges. Do you have a specific skill you can exchange for another service with a friend or business? For example, you might be a great photographer and can offer your services in exchange for a free haircut or physical therapy session.
It might feel daunting to ask this question, but you will never know if it is possible if you do not ask! Start discussing work exchanges with long-term service providers, such as your beautician or hairdresser. Some services will also ask for work in exchange for free benefits, such as cleaning.
It is fun to learn your friends’ secret talents and share them. There are many ways to exchange; it does not just have to be with money.
You can also item exchange with friends. It is a great way to declutter and get items you need. If you need help decluttering, throw a declutter party and get your friends to help you organize.
Do you have an expensive gym membership you do not want to cancel? Do you spend money on activities that require entry fees? Consider connecting with nature and getting outside.
It is fun to discover your local area, and you can still find ways to exercise. For example, many people use playground equipment for pull-ups and other exercises in the early morning when it is still empty. You can also try other sports such as hiking or running.
Suggesting an outdoor activity is a great way to socialize too. Instead of going out for that expensive coffee, why not arrange a picnic in the park or stargazing with friends?
Try a Saving Challenge
There are many different cash challenges, which can help make saving fun. For example, you can try the 100 envelope challenge. Collect 100 envelopes and number them, then each day pick an envelope.
However much is listed on the envelope is how much money you should put into it. You can adjust the envelope amount if 100 is not feasible for you.
You can also try other challenges, such as putting 1 dollar in your account the first week, then setting a target number you will reach, such as 50. Each week you add an extra dollar until you put $50CAD in your account on the final week.
Another great challenge is having a no-spend day each week. You can have multiple no-spend days if you want, but be mindful not to have a big blowout on other days.
Create a 30 Day Wishlist
Instead of impulse buying, screenshot what you want to buy. Do this every day for thirty days. You can then make a wishlist and consider if you still want to buy the item.
A wishlist is a great way to stop impulse buying. There are many psychological factors when it comes to impulse buying, such as receiving instant gratification, which soon fades to despair when you check your bank account.
The solution? You seek more gratification. However, a wishlist helps you become more mindful of your spending and impulse behaviors.
Save Your $5s
One of the classic fun ways to save money is to try the $5 trick. Every time you get $5, put it in a jar. With patience, you can save hundreds or even thousands of Canadian dollars. You can also try applications that work similarly by rounding up purchases.
Pay in Cash
Part of the issue with saving money is that many purchases are now online. Globally, more than two billion people made purchases online in 2020. Technology makes purchases almost instant, taking away the reality of spending money.
However, a fun and eye-opening tip is to make a monthly budget and withdraw the cash. Aim to only make purchases in cash and see how you manage your monthly or weekly spending.
Attend Fun Free Events
You do not have to stay at home when saving money. There are many free events in Canada to discover. Check out your local community news to see if any free mic nights or park concerts are happening. There may also be free exercise groups, such as walking or running.
Sometimes bookshops, universities, and libraries have speakers. There are often local art shows, sporting events, and other communal activities. It is a fun way to get to know new people and support the local community.
Or throw your own event. Gather friends around your house for an art afternoon, a women’s or men’s circle, or a pot luck dinner. There are many ways to socialize without spending money.
Go on a Thrift Hunt
An adult adventure can be delving into the world of thrift stores. Instead of buying new items, why not venture into thrift stores? You can find some incredible bargains and items with a bit of patience.
Plus, you are helping reduce your carbon footprint. Thrifting uses less energy, encourages thoughtful consumption, and uses fewer chemicals. You can also have a thrift photoshoot with friends or a challenge to see who finds the best item.
Find Volunteer Opportunities
There is volunteering, and then there is volunteering strategically. See if any opportunities offer benefits, such as free food, equipment use, theater shows, or concerts. You might also get to volunteer in an interesting location, which will make volunteering even more fun.
Grow a Garden
Being self-sustainable is more crucial than ever. But it can also save you money, especially when it comes to food and water.
There is an initial investment, but you can grow your fruit and vegetables. Sometimes there are local community gardens if you do not have your own space, but certain plants will grow on window sills or balconies. There is plenty of information online to find options that suit your area.
It is enriching and fun to grow a plant successfully. It is a bonus if you can then eat it!
Make Your Own Products
Making your own products is one of the fun ways to save up money. Instead of spending money on expensive hair treatments and other beauty products, consider making your own.
You can also make your cleaning products and other items. The next time you buy an item, ask yourself if you can make it at home. It is fun to try new skills, and natural homemade products can be effective too!
Have a Habit Jar
A habit jar is one of the most popular tips for how to save money. Pick a bad habit each person in your household has, and agree to add money to the jar each time you do it.
It can be fun to notice your habits and see how quickly the money adds up. For example, you could add $1 every time you automatically check your phone. Canadians spend up to 11 hours a day on average on their smartphones, so it can quickly help you become more mindful about what you are doing.
Learn to Cook
Have you ever tried to recreate your favorite cake or takeaway dish? With some guidance, baking and cooking can be fun. There are plenty of free resources online to help you, and avoiding eating out offers significant cost savings.
One of the most straightforward ways for how to save money is to have a savings chart. But this does not have to be a spreadsheet.
Get crafty independently or with loved ones to begin to track your savings in a colorful way. Visually seeing your spending can do wonders for your saving, and you can have fun creating the chart in the meantime.
Practice Fun Ways to Save Money
Saving money takes practice, but these fun ways to save money will make the experience more enjoyable. However, sometimes you need more assistance, which is also okay.
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