SAVE THAT MONEY!
i am a classic save-aholic. my friends tease me about it all the time…
photo here
as a kid i had a coca-cola piggy bank that i would fill with coins, pour it out, count it, and repeat. i guess 20 years later it’s not much different. i wouldn’t call myself cheap, and I don’t like to fuss if i accidently get charged twice for that aquafina i bought at the airport that was already overpriced in the first place. but i do like to make smart decisions when it comes to money. and when you are a freelancer and don’t have anyone telling you what to do with your dollas, you have to keep yourself on track.
one of the main reasons I felt like I was able to take the leap to freelance was because of my psycho saving ways. i needed to feel stable to take a risk like that, and that meant planning ahead of time. so i worked a full time job for a few years, and then came home at night and worked more. the extra cash went straight to savings, some of it where I couldn’t even touch it. and if you can’t touch it, you sure can’t spend it all on zara outerwear.
of course it’s nice to treat yourself. sure, buy that adorable expensive wallet every now and then. but i think it’s important to not treat paychecks like this…”wahoooo, PAYDAY! now what can I buy right now!!!” instead…
1. get paid (hooray)
2. treat myself to a nice dinner.
3. 50% goes right into a separate taxes/savings account. (well, that wasn’t very fun, now was it?)
but saving is cool. promise.
59 Comments
Add your own1. Leanne | October 5th, 2011 at 7:09 am
I totally needed that post. I’m a classic spender. It ain’t great. So thanks!!!
2. Colleen / Inspired to Share | October 5th, 2011 at 7:09 am
I appreciate you being real and sharing your thoughts on a serious topic. I’m always so curious about your jump from working for someone else to freelance. It’s something I hope to do one day! xo
3. Chelsea C. | October 5th, 2011 at 7:13 am
Love this post! I feel like some people are scared to talk about money, but it’s no biggie if you do it with tact and a little humor.
4. Rae Veda | October 5th, 2011 at 7:17 am
You sound just like me. I’m even doing a no spend October so no treats for me this month. I may even switch to no spend three months. I really want to work for myself full time but it’s so risky being I’m totally independent. I want to make sure I have way more than enough money saved up before I take the leap. xo, rv
http://aneclecticheap.blogspot.com/
5. meesch | October 5th, 2011 at 7:19 am
Spending is fine is your single and want to continue living like a college kid for years… saving means you have a plan to grow up!
-meesch
http://wwww.aperfectkindofday.com
6. white collar | green soul | October 5th, 2011 at 7:28 am
agreed. saving is definitely cool.
going into debt and being 50 with tens of thousands of dollars in consumer debt and 200 purses and a fancy car is not.
amazing how many people don’t seem to get that.
thanks for sharing!
- agata.
7. Amber | October 5th, 2011 at 7:45 am
Yes, thanks for this post. It never fails that I get my paycheck and head straight to a beauty or clothing store and spend all my extra money in one go. Living paycheck to paycheck is no fun, and I need to cut that habit, BIG TIME.
8. sophie | October 5th, 2011 at 7:55 am
a girl after my own heart! i sold 7 beanie babies when i was 9 years old and started my car fund and was able to buy an AWESOME 1989 volve 240 DL before I even turned 16. Her name was Sally and she was magical. to this day I still have “spend” “save” “donate” jars on my dresser
http://justliveintoit.blogspot.com
9. Jennifer Young | October 5th, 2011 at 7:55 am
perfect. i needed to read this. thank you for sharing bri!
j.
10. Bec | October 5th, 2011 at 8:18 am
Not fun, but definitely need to hear this. i’m working and saving for school but it is hard not to go PAYDAYYYYYYYY! I am for sure sticking to the 50% rule. It’s simple but somehow I never thought of it. It’s clear cut. Please inspire us more with your saving ways now and again Bri!
But also come to Philly with BlogShop because I did save for that!!!
11. kristina@beancakes ★ | October 5th, 2011 at 8:24 am
bri ~ i’m a big saver as well ~ don’t like to spend!!
xx ~ ks
12. Minna | October 5th, 2011 at 8:39 am
THANK YOU!
This post is awesome. I’m the same way. I’ve had a friend once tell me I was “wasting my youth being frugal,” which was sort of a blow to my ego. But this post helped me remember I have bigger plans as well! Maybe a condo one day? Maybe making the freelance jump as well?
13. amanda | October 5th, 2011 at 8:51 am
Man. I want to be like that. I’m a loser face when it comes to moolah! This is good, though.. very encouraging!
14. Drew Humphries | October 5th, 2011 at 8:52 am
You are so right!! This is an incredibly smart way to save up!
I’ve become a lot smarter with my money over the past couple years
and hope to keep it that way!
I’m the girl that tries on the clothes and gets the instant satisfaction from
just trying it on…then put them back on the shelf without paying a penny!
I guess that’s a lucky trait to have when saving up
15. Angel Court Jewels | October 5th, 2011 at 9:10 am
So true!!!
I’m very thrifty and would much rather have money in the bank, than a new pair of shoes. That said, It doesn’t mean I sacrifice in the fashion department. I’ve just learned to make wise purchases.
It’s the same philosophy I’ve used in owning my own business, and it’s paid off. Slow steady growth means, bigger returns in the long run!!! Congratulations on taking the next step. I know it will pay off for you as well.
Here’s to saving our pennies!!
xoxo,
Courtney
16. Leah @ Freutcake | October 5th, 2011 at 9:22 am
So refreshing to read this post when most of my daily blog reads make want to run out and buy a whole new wardrobe, redecorate my home, etc. *And I’m including my own blog in that statement!
17. meeralee | October 5th, 2011 at 9:43 am
i completely agree with this post. learning how to be smart with your money allows you to reward yourself with beautiful things you need and will enjoy, instead of senselessly spending to fill a void. thanks for the post! :]
-m
18. Emily | October 5th, 2011 at 9:44 am
I am new to your blog and loving it! Thanks for this post! It really resonates with me right now at a time when I am doing future planning to make a go of it myself. 50% = WOW. you are offically my fashion and now savings inspiration. Smart lady, good advice!
19. Kate | October 5th, 2011 at 9:51 am
Way to go, Bri! Going to use your advice this week. No more payday, spend-day.
20. kate | October 5th, 2011 at 9:55 am
LOVE this post Bri. I’m in lock-down savings mode right so I can take more risks in the future. Becoming your own boss takes hard work and sacrifice, and love how you are so transparent about that.
Thanks for inspiring, always do
21. kate | October 5th, 2011 at 10:02 am
what a great message that we don’t hear nearly often enough in such stylish forums!
22. Carolyn | October 5th, 2011 at 10:08 am
What a clever post, Bri! My dad is a financial planner (aka- other people pay him to tell them what to do with their money) and the one piece of advice he always says is “pay yourself first.” A minimum of 15% of each paycheck should go straight to savings, no ifs, ands, or butts! Thanks for the reminder to be savvy and plan for the future.
23. lydia {ever ours} | October 5th, 2011 at 10:51 am
well said, bri!
24. maribeth | October 5th, 2011 at 11:23 am
i love that you share your thoughts and practices on subject matter like this! it’s definitely a good reminder. you’re the best!
25. Ali | October 5th, 2011 at 11:54 am
I’m venturing out on my own as well and it’s very scary! Having a bearing about your bucks is REALLY sound advice. Well said!
26. monicais | October 5th, 2011 at 12:24 pm
Hey bri, super inspired & loved this post! i would love to know what specific things made it easier to save? ( a favorite bank account, an online planning tool, etc) i’ve been trying to stick to a plan thats motivating & clear, but feel overwhelmed. any other tips?
27. Abigail Bradshaw | October 5th, 2011 at 12:52 pm
the concept of saving 50% is new and scary – but I think it’s a perfect idea. great to have all this advice when i’m just starting!
28. Nicole Scibetta | October 5th, 2011 at 1:47 pm
It’s not really easy to put 50% of your check in savings, most people can’t not because of frivolous spending but because of necessary bills.
29. Mommy Dearest | October 5th, 2011 at 2:11 pm
Bri, this post made me so proud of you! And I love how others were inspired by it. I don’t remember us talking to you that much about money, but I did see a photo recently I forgot all about where we made you earn your own money for a bicycle, remember that? Oh, and you bought your first set of good luggage with your own money! When you told me one day what you had saved up, I was blown away and so impressed! Way to GO!!!! (I’d fist pump the air if I thought that was feminine.) Love, Mother Dearest
30. Brandy | October 5th, 2011 at 2:22 pm
Good job Bri’s mommy.
and Bri – you’re so amazing. Thank you for everything.
31. jen | October 5th, 2011 at 2:27 pm
oh my gosh!! 50%? good job!! that really is amazing…it’s so hard to save when there are so many pretty things, so keep it up and you’ll be sooo grateful later. but i bet you already knew that
Smoking Crayolas Blogspot
32. Claire | October 5th, 2011 at 2:37 pm
can’t agree more with this post…. SO good to hear a wondrous creative like you be so organized and on track like a classic businesswoman
33. myra :: twigs & honey | October 5th, 2011 at 3:28 pm
I do that too! Glad to hear I’m not the only anal one when it comes to spending. I started out with absolutely zero so I really try to appreciate everything I have – and am frugal when I can be (yup – most of my payday $ goes to savings/taxes).
34. Jennie | October 5th, 2011 at 3:55 pm
I agree with Nicole, it’s easy to make sweeping statements like “save, save, save” when you have the ability to do it, but unfortunately many people at this time don’t have that luxury. People are burdened by debt that might not necessarily be a result of buying “shiny things”. No doubt, saving every bit possible is essential and part of being a responsible adult, but the other side of the coin should also be acknowledged especially when so many people are struggling.
35. Adrienne Weaver | October 5th, 2011 at 4:00 pm
I’ve tried this so many times and I’m still trying to follow it…So much harder than it seems!!
Absolutely LOVE your blog! One of my absolute favorites! Love for you to check out mine sometime. Just getting started
Adrienne
xoxo
mygoldenmindset.blogspot.com
36. bri | October 5th, 2011 at 4:06 pm
hi jennie and nicole.
i totally hear what you are saying, and i haven’t always done 50%. Like I said, there was a point where I was working on a lot of freelance jobs on the weekends and at night. heck even on my lunch breaks. that allowed me to build up savings. and 50% doesn’t have to be the number, as long as it’s 15% aside, I think that’s cool. every situation is different, and I totally get that
bri
37. Marissa | October 5th, 2011 at 4:20 pm
Thanks for talking about how amazing saving is! I agree (and about treating yourself occasionally too!) It’s such a balance, but you can get as much a high about meeting a savings goal as buying a new thing you wanted. And, I’d rather save my money and but 1 thing I really want these days than 10 things I kind of want.
Your mom’s comment is adorable! I also wanted to tell you that I did the same thing as a little girl with my allowance. I even went as far as to inventory my nickels, dimes and quarters. Hahahah!
38. Jennie | October 5th, 2011 at 4:26 pm
Thanks for the response Bri. I agree that every situation is different, and the overall message of your post was right on point.
On a different note, I completely love your blog and visit daily, you have a great design aesthetic
39. bri | October 5th, 2011 at 4:28 pm
thank you! it makes me happy that you visit!
40. Nubby | October 5th, 2011 at 8:39 pm
Great advice! Also, some readers need to remember that as a freelancer, taxes aren’t usually taken out upfront so 35% comes off the top of the 50% that’s set aside and then the extra 15% is a pretty standard savings rate. Thanks for reminding us that saving can be cool.
41. bri | October 5th, 2011 at 9:09 pm
exactly!!
-bri
42. Sara/Matchbox Kitchen | October 5th, 2011 at 9:21 pm
Yes! Saving money is cool
I worked full time and lived at home last year and saved around 60% of each paycheck. Now that I have moved out I am so glad I saved all of that up! I am not embarrassed to be frugal and it really helps me curb purchases that aren’t necessary. I enjoy spending my money on things I truly enjoy, like a nice dinner out or a quality pair of shoes. But when it comes to the the little things (it’s always the little things that add up!) I am extra mindful.
43. ann | October 5th, 2011 at 10:22 pm
great post, bri. it’s nice to get this message from a blog, instead of the “look at all these pretty things you need to buy!” reminds me of this also great post: http://tumblr.com/xss38fuyt1
44. Jillian | October 6th, 2011 at 3:41 am
That’s a brilliant plan! I do love my savings. I just got my first in house design job fresh out of college – but I secretly hope to freelance one day! Just need to save those dollas!!
You’re fabulous – if you ever want to post tips for young and confused/ecstatic designers that would be incredible!
45. Danielle | October 6th, 2011 at 5:47 am
I love your saving approach and I’m the exact same way! It’s such a great high to see saved money in the bank
-Danielle
46. Nubbytwiglet.com » &hellip | October 6th, 2011 at 6:54 am
[...] • Freelancers, listen up: be smart and save your money! [...]
47. Rachel | October 6th, 2011 at 8:17 am
I like this post, but I wonder how you have so many cute outfits – and some designer name stuff, if you save so much? How do you decide when you need some new clothes? That’s my big weakness. . . . .
48. kyra kendall | October 6th, 2011 at 11:25 am
so great! On this topic, I did a little book for young girls to kind of inspire saving over spending. i made it totally free just in the hope that girls read it and at least THINK about saving
you can download it for free right here:
http://kyrakendall.com/whynot
49. Natalie | October 6th, 2011 at 12:59 pm
This is what I do! Currently saving for a car so I can drive to and from University! Good to have a goal, would totally love to go into freelance, but I admit the not knowing when your next pay day is coming is something I worry about.
50. Shelby | October 6th, 2011 at 1:09 pm
Thank you for posting this! My husband and I own a photography business and have learned slowly how to balance the art of saving with still being able to have fun and enjoy things… things like shopping
51. Fajr | Stylish Thought | October 6th, 2011 at 2:24 pm
But Zara outerwear is so much fun! I’m a classic spender turned hesitant saver who really needs to be a diehard saver. Baby steps. Thanks for the kick in the pants!
52. Louise LeMans | October 6th, 2011 at 5:21 pm
Great post. I’m not a full time freelancer, however, I feel really lucky to have the job I have designing in publishing — print publishing no less — so as you can imagine, I am not exactly where my friends in other fields are financially in our early 30′s.
But…I’ve had a retirement account since I was eligible for one in my first job out of school. And rolled it into an IRA when I left. Sure, it tanked in 2008, but I’ve got lots of time to make that up.
I’ve almost met my emergency fund goal, and next my savings fundage will be directed toward other stuff like saving for a car in a few years, a new laptop, buying a possible HOUSE (loft?) eventually…
It’s not sexy, but I sleep WAY BETTER at night not having to wonder what happens if shit hits the fan. And I like checking my accounts through Mint and seeing that number get bigger every month. I sleep really well now, and occasionally I go crazy and order from ASOS or get crazy Jeffery Campbell shoes from Karmaloop.
53. Lindsay | October 7th, 2011 at 5:20 am
I’ve been serious about getting into this mindset lately and this post is very inspiring to start me off. Serious savings and budgeting is something I want to become a pro at! Thanks!!!
54. Required Reading: 10.7.11&hellip | October 7th, 2011 at 5:40 am
[...] Ladies: Save That Money via Design Love Fest [...]
55. Krysten | October 7th, 2011 at 11:09 am
Now if only I could stay away from Etsy.
56. bougiehippie | October 7th, 2011 at 3:25 pm
I do a monthly goal of how much I want to make, a bill budget and how much to save
57. miss kelly | October 9th, 2011 at 6:16 pm
you have ABSOLUTELY NO IDEA how timely this post was. i need to print it out and tack it to my cube-board/wallet/forehead/shoe/etc….
58. cinzia | October 11th, 2011 at 5:08 pm
i love your post. saving is cool. r&roll !!!!
59. bloodstream » New Y&hellip | January 2nd, 2012 at 3:40 pm
[...] This idea was inspired by a good post on Designlovefest. [...]
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