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It can’t be denied that money is deeply intertwined in our lives. We deal with it day and night. That is why we’re often told to save money today and money will save you in the future. And for me, one of the best ways to keep our motivation and interest in saving is through money-saving charts.
So in this post, I want to share with you some of the best money saving charts I could find online, and I hope that these money-saving charts will help you achieve your financial goals, whether they are big or small!
Why Use Money-Saving Charts?
Saving money is important in keeping your financial house in order. It’s hard to predict the future. You might need to move location for a new job, have a baby sooner than you expected or face a medical emergency. All of these things, and more, require money. And relying on your present paycheck is not always enough to tide you over. Saving money is essential for both your short-term and long-term financial well-being.
That answers “why” you have to save money. But some people have trouble doing the “how.” As in, how do you save money?
While there are many ways to save money, different methods work for different people. But one of the best ways to get you in the grind of saving money is by using money-saving charts. And here are the reasons why you should start using a money-saving chart right now:
1. It’s a visual reminder of your financial goals.
You don’t want to forget why you’re saving money in the first place.
2. It keeps you accountable and motivated.
There are money-saving charts that keep track of your progress. The more you move towards your goals, the more you find the motivation to conquer them.
It can be customized to your needs.
Like they say, “different strokes for different folks.” You can create your own or modify an existing money chart so that it fits right into your personal goals and income.
Get Your Financial House in Order With These Money-Saving Charts 2020
Whether you need help in budgeting, saving money for specific goals, or paying down debts, there’s a money chart for that. These charts will give you visual reminders on how to deal with money and utilize it to your advantage.
1. Baby Steps Towards Financial Independence
From: Dave Ramsey
Dave Ramsey is a prominent figure in the world of personal finance. He advocates taking the Seven Baby Steps, a series of actionable tips that allow you to manage your money by building an emergency fund, paying down debt, and investing in your retirement.
2. The Basics of Saving Money
A lot of people don’t know how to save money simply because they don’t know what their priorities are! This simple money-saving chart tells us that saving money doesn’t need complicated methods. The basic steps when it comes to saving money is following this equation: INCOME-SAVINGS = EXPENSES. It’s also essential to identify the difference between needs and wants, and then trim back wherever possible.
3. How to Save Money on Food
From: Loan Monkey
According to USA Today, Americans utilize 10% of their income on food. Food is a necessary, often huge expense among most families, but that doesn’t mean you can’t stretch your food budget to enjoy healthy and delicious meals.
4. How to Save Money on Transportation
From: Consumer Credit
In between fuel, parking tickets, repairs, maintenance, and insurance, transportation can surely eat up on your paycheck. According to the Institute for Transportation and Development Policy, Americans spend 13% of their income on transportation. However, this infographic shows that there’s more than one way to save money on transportation costs.
5. How to Save Money on Utilities
From: Financial Wellness
Electricity helps run our modern lives, so it’s a necessity for most of us. But if you want to reduce your electric bill and enjoy some savings, then you must be conscious of how you use power and follow the tips on this infographic.
6. How to Save Money on Groceries
The grocery store can be a wonderland for blowing money. It can be tempting to pick up items that aren’t necessary and bust your grocery budget entirely. According to Business Insider, Americans spend between $300-$600 a month in groceries, depending on the state. So if you think grocery shopping is a constant culprit why you can’t save as much money, then it’s high time you take these tips to heart.
7. How To Save Money On Vacation
From: Loan Monkey
Vacations are fun, but they can also get expensive. Fortunately, your family can still have the best time without breaking the bank by being more practical with your choices. This simple money chart will show you how to save money on vacations without sacrificing the quality of experience.
How To Save Money For Life’s Milestones and Goals
8. Save money for a house deposit
From: WMA Property
Owning a home is a huge achievement, and the very first step to do this is actually saving up for a house deposit. Most people recommend saving at least 20% of the house’s price as a deposit. Here’s a money-saving chart to help you reach such an amount.
9. Save money for your retirement
From: Central Bank
Unlike other financial goals like saving up for a wedding or a vacation, retirement is a long-term commitment. How you save today will profoundly impact your retired life in the future. This money-saving chart tells us that you need to set up goals and act on them as early as possible to enjoy your dream retirement.
10. Save money on a wedding
From: Wedding Forward
A wedding is an important milestone, and it could get very expensive. But, there are savvy ways to cut costs here and there. Start with a defined budget, make a list of your expenses, and be practical with your options.
11. Save money on a new baby
From: The Bump
Growing your family? A new baby is always a blessing, but if you’re not careful, she can easily break your budget. After all, shopping for baby things is exhilarating! Here are ways to enjoy your new bundle of joy while keeping your finances under wraps.
12. Save money for college
Going to college is a great way to access incredible opportunities in the future. But college education comes at a hefty price tag. According to Top Universities, state colleges can cost between $10-$26K per year, while private universities cost $36K annually. Refer to this chart to potentially cut down on your college expenses.
13. How To Save Money After College
From: AIA Singapore
Life as a working adult is a whole new ball game than when you were a college student. You now have all sorts of financial obligations that you need to be accountable for. I think this is one of the best money charts for saving that’s specially designed for young adults looking to earn their first formal paycheck.
Money Saving Challenges
14. 52-Week Money Saving Challenge : Save $1820
Our very own free money-saving challenge printable that will help you save $1820 effortlessly in 52 weeks! You can download this FREE printable here.
15. Save $1,000 each year
From: Medium Sized Family
To save $1,000 each year with this chart, simply pick an amount from these boxes and save it, then cross it off. You can go small or big, depending on what you can afford to save that week. What’s important is you get into the habit of saving, and you’ll have $1,000 to spare at the end of the year.
16. The 30-Day Money Challenge
From: Mint Notion
Here is another fun money challenge that will help you save money, $500 a month, to be exact. You start at $1 on day 1, and you increase the savings by adding another each day. Write down your running balance and specify your goal for this challenge to keep the motivation.
17. Save Money For Christmas Challenge
From: This Mama Blogs
The holidays don’t exactly come cheap, what with all the gifts, food, parties, and trips many people spend on. This money-saving chart will help you save money for Christmas. Save a specific amount each week starting October, and you should have $800 to spend for Christmas come December.
How to Budget Money
18. The 50-20-30 Budget Method
The 50-30-20 budget is one of the most popular budgeting systems. It tells you how to properly divide your income so that you cover all your needs, afford some of your wants, and still contribute to your financial goals. So if you’re struggling to budget, this chart is a good way to get started.
19. Zero-Based Budget
From: Every Dollar
This budgeting method is all about giving every dollar a job. It means that whatever money you earn, you’ll appoint a job for it until every single dollar is put to use. For example, if you have $2,000, you’ll use all of it to sustain your basic needs, purchase your wants, and invest in your savings and financial goals. However, don’t think that because you have surplus money it means that you should spend it frivolously. At the end of the day, it’s still up to you how to utilize your hard-earned income into useful matters, such as paying down debts or investing.
20. The 70% Rule
From: Fun Cheap Or Free
No matter what your income is, you should be able to spend, save, and invest, with the help of the 70% Rule. Basically, what this budgeting method tells is that you should divide your income into three components: 70% is for your living expenses (including needs and wants), 20% is for debts and savings and 10% is for investing, tithing, college savings, and retirement. Therefore, you should live off with only 70% of your income max.
21. Money Envelope System
This is a classic budgeting system that still works right to this day. There are even apps now that work in lieu of physical envelopes. The classic money envelope system works by determining your expenses for the month and then withdrawing the corresponding amount in cold cash. You will then place the right amount of money on labeled envelopes, such as food, groceries, bills, fun spending, etc. You will only take money from the right envelope. When the cash has run out, it means there’s no more to spend. This budgeting method teaches us self-restraint and discipline when it comes to spending.
Using money-saving charts is a fantastic way to inject fun into saving. Some people find saving money daunting, constricting, even boring. But if you’re constantly reminded of your goals, you’ll realize that you’re doing this for the sake of your financial future.
Do you use money-saving charts? Which ones do you find most effective? Share with us in the comments!