Let’s be honest: does anyone really think saving money has the potential to be fun?
While scrounging for cash and living below your means might seem like a drag, the fact remains that you can actually turn your frugal lifestyle into somewhat of a game. You may be surprised at how many opportunities to “gamify” the saving experience. You can also use penny-pinching as an excuse to get more out of life.
The following three tips can help take the sting out of saving money. Plus, they may actually result in some inadvertent good times. With an open mind and the right attitude, just about anyone can follow these tips regardless of their budget.
Get Involved with Investing
Arguably the best way to get the most out of your frugal habits is through investing in some way, shape or form. After all, if your hard-earned money is simply sitting in an ordinary savings account, chances are you’re squandering your opportunities to squeeze the most out of your savings.
Some ideas for investing beyond a regular old bank account include…
- Invest in a Roth IRA or high-interest account. Accounts where you can’t touch your money are brilliant investments that ensure you’re getting the most bang for your buck
- Choose penny stocks to invest in. With a relatively low cost to get started, penny stocks are an awesome introduction to the world of trading.
- Set and beat your own savings goals. Following the first of these points, you can use an app like Mint to track your savings and beat your month-over-month savings. It’s fun to see how far you can stretch your budget!
See How Long You Can Go Without Spending
Another challenge that forces you to get creative with your lifestyle is to totally stop spending money for an extended period of time. This obviously requires some planning in terms of your day-to-day life, but some fun “no spend” challenges you can conduct among friends and family include seeing how long you can go without…
- Eating out at a restaurant. Instead focus, on cooking your own meals.
- Purchasing new items of clothing. This forces you to make the most of your current wardrobe.
- Spending on entertainment such as movies or books. Essentially this inspires you to adopt more creative and productive habits.
Focus On Yourself Instead of “Stuff”
Piggybacking off of the last tip, frugal living encourages you to explore your creative side and try new things as you stop spending so much on material items. Similarly, cutting down your spending can be a catalyst for productive habits and positive behavior.
For example, perhaps you finally decide to buckle down and learn to play that guitar you bought years ago. Likewise you can focus on your health and fitness by cooking your own meals and exercising rather than going out to eat or spending money on a gym membership.
Keeping your personal finances in order doesn’t have to be a massive headache or burden. In fact, it can be a blast with the right approach to frugal living. By treating your spending habits as a game, you can keep more money in your pocket and have a blast while doing it.