Saving money can be difficult. Spending less than you bring in is a challenge faced by many people these days. One mom seems to have mastered the ability to save, however, and she’s here to convince the rest of us that doing so is not as hard as we might think.

The theory she has used to save tens of thousands of dollars in just one year is to restrict money to the essentials.

In actuality, a lot of things aren’t as essential as we may think.

The best way to have more money is to spend less of it.

Trying to make more money can be almost impossible. It generally involves either getting promoted at work, getting a new and higher-paying job, or starting up a side hustle. Those are all very difficult things to achieve or obtain.

That’s why this mother’s, and many other experts, advice is that the easiest way to have more money is to spend less of it. Spending money on only the essentials will leave you with a big chunk of cash at the end of the year.

Lara Joanna Jarvis has a “No Buy” year.

Budgeting role model Lara Joanna Jarvis decided she was not going to make any purchases that weren’t essential for an entire year. By the end of that year, she’d saved up $42,430. That was enough for her family to buy their first home.

Granted, some people don’t even make $42,430 in a single year, so not everyone can save that much. Still, Lara’s tips will surely help anyone have more money than they did before.

The 30-day rule.

Lara’s first bit of advice is that if you decide you want to buy something, wait 30 days before purchasing it. The aim here is to reduce the amount you spend on impulse buying.

“If you want something then put it on your wish list, and if you still want it after 30 days have passed, you can allow yourself to buy it. It stops that impulse spending.”

This doesn’t apply to food, of course. You should still buy and eat food regularly.

Meal planning saves money and stress.

Planning our meals ahead of time helps save money at the grocery store. It keeps us efficient in the groceries we purchase. This can end up saving quite a bit of money over time. Lara says she’s been able to reduce her grocery bills by 50% this way.

“Meal planning not only alleviates the stress of trying to find something to eat, it saves you time, it saves you money, it makes you more organized.”

Pay with cash.

Lara also recommends paying for items in cash as much as possible. Take out a certain amount of cash every week, and you’ll be able to keep better track of how much you are spending than if you simply use your debit or credit cards.

“It just devalues money so much,” Lara says of paying with cards. “Cash just makes it a bigger deal.”

Keep a record of what’s in your closet.

In order to reduce the amount of money we spend on clothes, Lara recommends keeping a a document or record of the clothes you already own. Then, when you are feeling like you have nothing to wear, look at the document and convince yourself otherwise. This will cut down on the amount you spend on new clothes.

“Whenever you feel like you haven’t got anything to wear, you can look at your photos and pick out an outfit.”

Keep your end goal in mind.

If you are saving up for something specific, always have that end goal in mind. It will help you avoid impulsive or unnecessary purchases.

“Know your why, write it down and always keep a look on it and congratulate yourself,” Lara says. “Celebrate the little wins along the way and just keep your why in your vision because otherwise, you’ll lose your way a little bit.”

Check out more of Lara’s tips in the video below.

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Source: The Sun/Lara Joanna Jarvis