Some of the most successful people are savvy and frugal with their money! An article from CNBC lists the number one best money-saving tip from 25 top executives and leaders.
Tip: "Open a savings account and do odd jobs to earn money to save!"
Tip: "I love to create a monthly savings goal for specific things. Like, save $250 for shoes and you won't spend more."
Tip: "When you've got your eye on a splurge item, jot it down as a goal and increase the amount you set aside for savings. Check back in a few months. Still want it? Great. If not, even better! Buyer's remorse averted and healthy savings account."
Tip: "Regularly review your big expenses — like auto insurance, cell phone plans and energy bills — to make sure you are getting the best deal. You could be missing out on savings!"
Tip: "I invite friends over to cook dinner or for game night instead of going out and spending money."
Tip: "Wait 24 hours … Before buying an item on impulse. You will go back if it is really worth it!"
Tip: "Travel makes you a better person. Save for trips — not things!"
Tip: "Doing things > having things. Your spending = your values."
Tip: "Nickname your savings account(s)! This will help motivate you to save and reduce temptation to pull money out."
Tip: "Spend a little time each week going over your personal finances and educating yourself about personal finance. You will become both knowledgeable and rich!"
Tip: "Rather than spending $1 here or $2 there, save up for larger, more meaningful purchases!"
Tip: "Evaluate online banks for great rates on money market savings accounts."
Tip: "Pay yourself first by splitting your paycheck deposits into three low/no fee accounts: 1. Investing for retirement (myRA, 401k, etc.) 2. Savings (for emergencies and goals) 3. Checking (for daily spending)"
Tip: "Keep it simple, decide what you want and then go for it. Get rid of the excuses, check your stories and recognize whatever money challenges can be overcome in the future."
Tip: "Make saving a part of your routine — like brushing your teeth! Put aside at least a small portion (say 10 percent) of every dollar you receive, including gifts, allowance, and money from your first job. You'll be really glad you did."
Tip: "Try to save each $1 bill — start at $1, then $5, then $10, $20, $50 all the way up to $100! Go to the bank at each benchmark and exchange it for the correct note. Celebrate your $100 bill!"
Tip: "WAIT. Sometimes if you wait at least two before making a big purchase — you find you don't really need the item at all!"
Tip: "Save at least 10 percent of everything you make/get! #SavingIsCool"
Tip: "Before you buy anything ask yourself: How will I feel about this tomorrow? Happy? Do it! Panicked? Skip it!"
Tip: "If you can't afford something, set this goal: You can buy it, but only once you've saved twice as much as it costs!"
Tip: "Saving is a muscle. The sooner you start the stronger it gets!!!"
Tip: "When you want something new, think about how long you'll have to work to earn enough to buy it. For instance: Cute new boots = 10 hours of babysitting. Then ask yourself, 'Are they worth it?'"
Tip: "Money doesn't grow on trees. Don't be afraid to talk openly about the importance of saving, spending and investing."
Tip: "Paying with cash instead of with a credit card can help you save money. If you are physically holding cash at checkout, you will feel more conservative and often times make better decisions."
"Invest in you! Use your money to help expand your mind. Buy educational tools, gadgets, or money savings apps! Take coding lessons! Or support an organization that has helped you learn and grow!"