Money saving tips from Alexa von Tobel, Ann Shoket and more
April is Financial Literacy Month, and the Council for Economic Education has engaged 28 entrepreneurs, economists, and editors to publish their #1 tip for saving money. The social media campaign — dubbed #MySavingsTip — is designed to inspire students to start thinking and talking about money, instead of making the conversation taboo.
Below, find part 2 of the tips from a variety of contributors. Part 1 can be found here.
Ann Shoket, author of "The Big Life" — Before you buy anything ask yourself: How will i feel about this tomorrow? Happy? Do it! Panicked? Skip it!
Alexa von Tobel, founder and CEO of LearnVest.com — Saving is a muscle. The soonger you start, the strong it gets!
Lo Bosworth, founder of thelodown.com — I love to create a monthly savings goal for specific things. Like, save $250 for shoes and you won't spend more!
Kathryn Minshew, CEO and co-founder of TheMuse.com — Rather than spending $1 here or $2 there, save up for larger, more meaningful purchases!
Nan J. Morrison, president and CEO of the Council for Economic Education — Evaluation online banks for great rates on money market savings accounts.
Chondra Sanchez, co-writer of comic book series Key of Z, Kill Audio, and Translucid — WAIT. Sometimes if you wait at least two weeks before making a big purcahse, you find you don't really need the item at all!
Chris Siegfried, television personality — Save at least 10% of everything you make/get!
Mona Patel, CEO and founder of Motivate Design — Keep it simple, decide what you want and then go for it. Get rid of excuses, check your stories and recognize that whatever money challenges can be overcome in the future.
Brian Kelly, aka The Points Guy — Travel makes you a better person. Save for trips — not things!
Sam Zises, founder and CEO at [L]earned Media — Paying with cash instead of with a credit card can help you save money. If you are physically holding cash at check out, you will feel more conservative and often times make better decisions.
Jason Abbruzzese is a Business Reporter at Mashable. He covers the media and telecom industries with a particular focus on how the Internet is changing these markets and impacting consumers. Prior to working at Mashable, Jason served as Markets Reporter and Web Producer at the Financial Times. Jason holds a B.S. in Journalism from Boston University and an M.A. in International Affairs from Australian National University.
