10 Money-Saving Tips For New Workers
Source: http://loi-renee.hubpages.com/hub/10-Money-Saving-Tips-For-New-Workers
Getting the phone call where you are told that you are accepted for the job is as exciting as it is satisfying. It is your first job and you have already planned how you intend to spend every dime of your first paycheck, rewarding yourself and paying debts. You can finally improve your entertainment scenes, buy new clothes, and enjoy the wad of cash that you will be getting.
As exciting as it may sound, this is the wrong way to go about spending your first paycheck. You should always remember to save money. Starting a wild spending habit from the first job payment you get is a bad habit that will make you end up in even more debt than before. If you have already started out down this path, it is not too late to change it and you are not alone.
Almost everyone who has ever worked understands what it means to be out of cash when he has just started working. This is especially true if there are other major life changes involved. Like a new home, a new family, or other responsibilities. With a new income, there are shopping lists of debts that need to be repaid, items that need to be bought, items that need to be maintained, and of course, the entertainment that was lacking in the times of unemployment.
In the midst of all of the excitement of a new job, some people may forget that this is the ideal time for them to start saving. Some may not even be sure how to save some money. Giving up all of your first few paychecks to repay debts and entertain yourself is not a good idea. There is usually a probationary period for new employees in which they need to prove themselves as good workers. The probationary period may last from six weeks to four months depending on the type of job. During this time, the now worker needs to save as much money as they can instead of spending it all.
1. Take your lunch to work
Brown-bag your lunch. Make sandwiches, packed lunches, or pastas and take them to work instead of going to a nearby restaurant or fast food place every day. If possible, you can make extra food at dinner, refrigerate it, and pack it for work the next day where you can reheat and eat it.
2. Mix and Match Clothes
Instead of buying a new suit for every day of the week, mix and match your clothing. If you must buy clothes, buy smaller pieces that can be worn with more than one other piece. For example, instead of buying a dress, buy a skirt, pants, or shirt, that way you will have more options when you need something else to wear. If you need to buy a bottom, buy one that can be worn with any of your tops. If you need to buy a top, buy one that can be worn with most of your bottoms. With only a few pieces of clothing, you can have an endless wardrobe.
3. Free exercise
There is no need for you to pay for a gym membership as soon as you start working. Make use of all the free exercise you can get. Walk to work, go for a jog before or after work, go swimming if you have a pool, or you can make use of the stairs at your home or workplace and go up and down them several times a day. There are television channels that carry exercise programs on a daily basis. Try watching these programs and exercising along with them in your own home.
4. Get paid to exercise
What is even better than getting a free exercise? Being paid to exercise! If your new job does not satisfy your need for physical activity and you have the extra time, you can take on a few extra jobs that will offer you the exercise you need. Offer your services to your neighbors for a small fee. You can walk dogs, mow lawns, clean windows, or wash cars.
5. Free Entertainment
You do not need to fork out a hefty sum for entertainment. There are many ways in which to be entertained for little to nothing out of pocket. Invite your friend over for board games or console games and drinks. You can read a book or exchange console games, books, and movies with your friends and neighbors.
6. Visit the Library
Libraries have more to offer than a few books. There are free newspapers, free internet connections, free magazines, and many interesting people.
7. Travel cheaply
Instead of paying extra money for gas or private transportation, travel cheaply by taking public transportation, carpool with your co-workers, and walk to work if you can. If you own a bicycle or bike, use that as your means of transportation to and from work. If you have family members or close friends who live near to you and work in the same vicinity as you, carpool with them.
8.Repay debt smartly
Instead of handing over your entire paycheck at one time, try to work out payment plans when it comes to repaying your debt.
9. Always shop around
Do not make impulse purchases. If there is something that you need to buy, shop around and compare prices.
10. Banking
If you often use a debit or ATM card, it may be better to have your savings differently from your spending money. Some banks offer services where you can specify how much of your monthly deposits are to be inaccessible through your debit card. This way, you will be less likely to spend more money than you should and you will be developing an active saving habit.
Free programs are available that will advise workers as to how to make a budget and stick to it. You can visit a bank and ask for assistance in budgeting or you can ask a friend or relative. By saving as much as possible when you are a new employee, you will have some money saved in the event that you should lose your job within the probationary period. Every working individual must have some form of savings plan in place in case of emergencies. You can share in the comments below, some of the ways in which you actively save money.
