Looking at smart tips to save money could be the last thing on your mind if you are just about to start a new job. But you might be surprised at how some people tend to spend more than what they can afford when getting a new job.
There is no denying the fact that it is exciting and for some people, life-changing to be starting a new job. You could be simply shifting to a new job role in your current company or transferring to a new one. There are some also who might have been looking for a job for quite some time now and looking forward to getting their finances in order with a steady paycheck.
The pandemic did not help as well and many Americans lost their jobs. And at that time, it was difficult to get a new one. Businesses were not looking to add more people as they try to navigate their operations through the pandemic. But now that the economy is getting back up, hiring and business operations are starting to go back to normal.
So if you are about to start a new job, congratulations. This will bring some form of stability to your finances. A regular income assures you that you can cover your expenses every month and even get back on track with your savings. But even with this, you need to keep your guard up when it comes to your finances. Here are a few smart tips to save money while you are starting a new job.
Resist the temptation to splurge on new items
You might think that getting a new job means you need to get new stuff. New clothes, shoes, bags, or even gadgets. It is also possible that you could convince yourself that you need it for work. Yes, you might need it but do you need to splurge right away? Is it wise to go shopping for new items and charge it to your card when you haven’t actually started yet?
When you are at this stage, try going over what you have at present. Check your closet first before you give in to the urge of going shopping for new clothes. If you are still in the same industry, there is a good chance you have clothes you can use. If you really need new ones, stick to what you can mix and match with what you have at present. This way, you get to save money.
You might also think that you need new gadgets. Buying consumer products like smartphones and even watches might be what you are looking at. When it comes to this, one of the smart tips to save money is to ask yourself if you really need it. If your gadgets are still in good condition, then don’t buy them. If you really want to, save up for them every month.
Do you really need a new car?
Getting a car is a big purchase. It does not matter if it is brand new or used, the cost is high. Especially with brand-new cars, you are increasing your monthly expenses. Remember that it is not only about car payments. You now have to include gas expenses and maintenance on the car which goes up as it gets old. Insurance is also an added expense when getting a car. You need to factor all these, especially as Statista shares that over 3 million cars were sold in 2021.
If you have an existing car and it is still in top shape, it is a good idea to use it. When you start to look at smart tips to save money in terms of car use, it involves a lot of schedule adjustments. This is true especially when you are a two-income family and you bring your kids to and from school. Knowing who drives on what days and having a schedule gives you the chance to maximize your car.
Depending on how far your office is, you can also look at biking to work. This not only saves you money but you get good exercise out of it as well. You might even take public transport like the bus or train, whichever fits your schedule. If you have worked out the schedule and you really need a new car, consider buying a used one first. Depreciation is not that huge but be sure to check it out thoroughly before buying.
Is packed lunch cool?
When it comes to smart tips to save money, there are times you could feel restricted. Take your food for example, it is much easier to simply grab food on your way to work, order lunch, or even eat out with your officemates. It gives you the chance to choose what you want to eat and at the same time, spend lunch with colleagues.
But is it financially wise? You can eat out from time to time but if you are trying to save money, bringing lunch to work might be a good idea. For one, you still get to choose the kind of food you will eat. Also, you can make it as healthy as you want. The good thing about this is that it comes out less expensive when compared to eating out.
But here is the catch, you need to make time for it. You need to plan your meals way ahead. Days in advance, you need to buy all the ingredients you need to cook your food at home. Batch preparation helps you save time in the morning. Preparing lunch becomes a breeze if you spend time on it. You get to save money, eat healthily, and get to polish up your cooking skills as well.
Expenses for career growth
As you look at smart tips to save money, you might think that all of them have the same bottomline – don’t spend money. It might seem like it but in reality, what you need to get out of it is being smart with your choices. There are expenses that can help you further your career. Here are a few of them worth looking into.
There is a good chance that your current skill set is a big part of why you were hired for your new job. If that is the case, wouldn’t it make sense to improve on it? Why not look for training to help you improve your current skills? Not only does it make you more valuable as an employee, but you also get to widen your professional network as well.
More than just improving skills you have, why not learn new ones as well? There are short courses you can take to help you do just that. This gives you the chance for broader opportunities when you have an impressive skill set.
Spending time on your hobbies
Do not forget to spend time doing the things you love as well. Focusing only on work can burn you out physically and mentally. Spend time on your hobbies so you have an outlet when things get tough.
Invest in your body by eating the right types of food and putting in adequate amounts of exercise. This can help you work better with more focus and energy. It also keeps you away and lowers the chances of getting sick.
There are a lot of smart tips to save money when starting a new job and the bottomline is being cautious with your expenses. As you start your new career, make sure that you focus your energy on improving your finances, not bringing them down with impulsive and unnecessary expenses.