15 Dollar Store Organization Ideas you can’t beat!

Here are 15 dollar store organization ideas for every area of your home, all in one place. You can’t beat these amazing tricks and tips. Especially for a couple of bucks each!

1. Organize Your Bathroom By Hanging Cute Baskets

Small bathroom space organization idea

Do you have a tiny bathroom and there is absolutely no room for a shelf? Try hanging some baskets from the dollar store up to make the most of your space!

Source: Be Different Act Normal

2. Declutter Under Your Bathroom Sink By Using Containers

declutter under bathroom sink trick

I love this idea! Everything just fits perfectly under the bathroom sink. Having everything crammed under there is not a very pretty sight and it can be impossible to find what you need.

Source: Visual Meringue

3. Kitchen Organization On A Dollar Store Budget

kitchen pan organization

I’m totally guilty of just throwing my pans in the cabinet. This simple idea only takes a few moments to declutter the mess!

Source: Orgjunkie

4. Stylish Kitchen Pantry Makeover

kitchen panty organization makeover

Doesn’t this picture just look so amazing? Everything is labeled and it only takes a few seconds to find what you need. Storage containers are so helpful.

Source: Do It On A Dime Blog

5. Amazing Under The Kitchen Sink Transformation

Under kitchen sink organization transformation

You could simply use the baskets and tubs to organize under the kitchen sink or you could get a little fancy and put in some nifty shelves.

Source: The Kim Six Fix

6. Check Out This Fridge Makeover

fridge organization makeover

How much money do you waste on food that goes bad just because you forgot about it since it was hidden in the fridge? These containers are a great way to help separate food items so nothing goes to waste.

Source: Do It On A Dime Blog

7. Dollar Store Laundry Room Makeover

laundry room organization makeover

This looks so much nicer than just having all the laundry supplies strung out all over the place with detergent smeared all over the top of the washer, don’t you think?

Source: Nikki Jayne Papery

8. Cheap Closet Organization Thanks To The Dollar Store

closet scarf organization hack

Such a simple way to keep all of your scarves organized. You could also use the same method for hats, tank tops, belts, among other things.

Source: From The Desk

9. Deep Freezer Organization System The Smart Way

Deep freezer organization hack

I think this one is my favorite on this list. Digging through the deep freeze is so annoying! Using these containers make separating food a breeze!

Source: Practically Functional

10. Maximizing Drawer Space With Dollar Store Containers

Drawer orginzation hack

We all have a bunch of little things (makeup, toothpaste, etc.) and most likely it’s all just thrown into a couple of drawers. Am I right? These little containers are exactly what you need to make you look like an organization genius.

Source: The Summery Umbrella

11. No More Bras Stuffed In Drawers….Hang Them Up!

Bra Organization Hack

Bras that have lost their shape can leave you looking a bit frumpy. Hanging them up with bathroom hooks is an awesome way to keep them looking rounded.

Source: Buzzfeed

12. Office Organization Hacks That Will Also Help Declutter Your Mind

Workspace and office organization

Does your workspace look like a pack rat lives there? Try some of these great tips to help turn things around and make your life so much easier in the process.

Source: Mad In Crafts

13. Linen Closet Organization With Cute Dollar Store Baskets

Linen Closet Organization

Using baskets is a perfect way to help you separate sheets, pillow cases, wash rags, etc. Instead of having to dig through everything while trying not to unfold the sheets while looking for the fitted sheets. Much less hassle.

Source: A Bird And A Bean

14. Teach Your Kids How To Stay Organized Too!

Kid School Supply Organization

Having an art station for the kids is a great way to actually remember to give the kids some creative time but also keeps the mess from spreading. Nobody likes broken crayons everywhere.

Source: A Pumpkin And A Princess

15. Finally! No More Toys Covering The Bathtub

Bath Toy Organization Idea

This is my second favorite idea on this list. I’ve been just putting my daughter’s toys in the spare sink for a while now. It’s past time for a change. ?

Source: The Inspired Home

17 Dollar Store Organizing Ideas You Need To Try

It’s easy to put off organizing your home with excuses like, “I don’t have time” or “I don’t know where to start!” But after reading through today’s post you won’t be able to use the excuse, “I can’t afford it” anymore! I decided to do some internet sleuthing this week in search of some inexpensive organizing ideas for my home office closet. I was blown away by all the creative ideas I found that were created using items from the “dollar” store!

So today I’m sharing just a small fraction of the genius tips, tricks and hacks that are out there for cheap and easy organizing…courtesy of your local dollar store.

Corral Clunky Hair Appliances In A Metal File Basket

Idea Details:  Dream Green DIY

Pretty Pantry Makeover Using Various Dollar Store Containers

Idea Details:  The Social Home

Under Sink Mess to Organized Space For $15.00

Before

After

Idea Details:  New Nostalgia

No Linen Closet? No Problem. Try These Baskets-Turned-Shelves.

Good Housekeeping

Conquer The Chaos With This $10.00 Linen Closet Re-Do

Idea Details:  A Bird And A Bean

Move Over Williams Sonoma! Check Out This $9.00 Spice Cupboard Makeover

Before

After

Idea Details:  The Social Home

Fancy and Functional Dollar Store Laundry Room Makeover For $25.00!

Before

Dollar Store Organizing Ideas

After

Idea Details:  Nikki Jayne Papery

An Organized Bathroom Drawer As A Work Of Art!

Before

After

Idea Details:  Summery Umbrella

Craft Supply Organization and DIY Chalkboard Labels!

Idea Details:  Kelly Elko

Beautiful Garage Organization On A Dollar Store Budget!

Idea Details:  Simply Kierste

Ingenious Chest Freezer Organization System

Idea Details:  Practically Functional

A Clutter-Free School Year Courtesy Of This Dollar Store Portable Homework Station

Idea Details:  Simple Made Pretty

No More Hiding….Junk Drawers Gone Glam!

Idea Details:  I Heart Organizing

Ditch All Those Boxes! Perfect Feminine Hygiene Products Storage Solution

Idea Details:  Lemons Lavender and Laundry

Put A Lid On Plastic Lid Control With Dollar Store Cooling Racks

Idea Details:  Hometalk

Colorful & Space-Saving Kitchen Pantry Transformation

Before

After

Idea Details:   Lovely Little Life

Maximizing Linen Closet Space With Dollar Store File Sorters

Credit for everything https://www.onegoodthingbyjillee.com/dollar-store-organizing-ideas/

Idea Details:  The Real Coake

Now that you (and I) know how easy and inexpensive it can be to organize every room in the house…more more excuses! Let’s get going people! I’ll meet you at the dollar store!

10 Organizational Shelving Ideas

 

easy-organization-ideas-shelving-tips-for-your-home-diy-tutorials

Can you believe it’s March already? Does anyone else feel like they were shouting ‘Happy New Year!’ yesterday? Well, If you just shook your head yes and agreed, then let me ask you this – How are those New Years resolutions coming along? Don’t feel ashamed if you have lost track of that long list of things you said you would accomplish, time gets away from us sometimes – I understand… let’s talk about the one thats been topping my list for a while now. Getting organized.

What a perfect time to get organized and do some spring cleaning all at once! Today’s trend is for all of you out there who need a little organization inspiration! Time to grab whichever is closest; the hubby, the handyman, or even just the hammer for you crafty DIYers! Here are ten easy shelving organization ideas for your home!

inspiration-ideas-to-organize-your-home-with-shelving-diy This minimalistic shelving idea from HGTV is great for a small or narrow space!

ten-ways-to-organize-your-home-with-diy-shelving-ideas-inspiration

I love this laundry room and the use of built in shelving to organize every family member’s clothes. If you have a large laundry room like this and don’t know how to use the space, this tutorial by Polka Dot Chair is a must read!

ideas-and-inspiration-to-get-organized-at-home-shelving

This shelving will get all the clutter off the desk and leave more room for the work! If you’re like me and can’t stand the desktop mess, this shelving idea from The Glitter Guide is for you!

ten-ideas-for-an-organized-home-with-shelving-tips-inspiration-diy

 Jenna from Rain on a Tin Roof is amazing with her DIY posts and this one tops the charts! How creative are these wire basket shelves? See the whole post here!

diy-shelving-with-style-and-organization-tips-ideas-ikea-cube-shelving

This cube shelving is becoming a very popular way of staying organized and will even act as a wall if needed to separate two spaces! Check out more about this style of shelving on Made By Girl!

organizational-shelving-tips-and-ideas-for-your-home-dit

This simple and easy shelving is great if you don’t have a lot of extra space but still need to keep organized! Great for overhead shelving! See the whole post here!

organizational-shelving-ideas-and-inspiration-for-your-home-diy

This decorative ladder shelving is also a great way to display your organizational skills with style! Mixing picture frames and baskets for an added touch of style!

ten-ways-to-organize-with-shelving-diy

Have a small bathroom and need some extra space? Narrow shelves like these are great for storage in small spaces!

ten-ways-to-stay-organized-this-spring-diy-inspiration

For your basic shelving, style each shelf properly to create an eye catching space! Mixing boxes, baskets, accessories and books are great to carry the eye through the shelves!

10-ways-to-organize-your-home-this-spring-with-diy-inspiration

Creating a storage space with old wooden crates is a great way to organize an area! Perfect for a mudroom or entryway like in this image from Hello There Home.

How do these shelving organization ideas stack up in your opinion? Do you find any of these fitting for your home and new years resolutions? Happy Trending! 🎉

35 Amazing DIY Organization Ideas

35 DIY Home Organizing Ideas

1.  Coffee Can Cubbies for Yarn or other craft supplies from Leethal

2.  Label and Sort Cords from Apartment Therapy

3.  Magnetic Craft Caddy from Donuts, Dresses, and Dirt

4.  Organize Your Cleaning Supplies from The Inspired Home

 

 

 

5.  Store Cards in a Bar Soap Box from Three Different Directions

6.  DIY Upcycled Button Organizer from Swoodson Says

7.  No Sew Fabric Covered Bins from Sweet C’s Designs

8.  Free Printable Binder Covers from The Gracious Wife

 

 

 

9.  DIY Space Saver Organizer from Mod Podge Rocks

10.  Organize Your Tupperware Cupboardsfrom The Inspired Home

11.  DIY Kitchen Command Center from How to Nest for Less

12.  Upcycled Dip Container Organizers from House by Hoff

 

 

 

13.  DIY Cardboard Drawer Dividers from Apple Green Cottage

14.  Organize Your Cords from Our Thrifty Ideas

15.  Organize Your Pantry with Contact Paper Labels from Creative Green Living

16.  Upcycle Cookie Package to Organize Drawers from Couponing for Freebies

 

 

 

17.  Colorful Magazine Holders from In My Own Style

18.  Free Grocery List Printable from The Gracious Wife

19.  DIY Drawer Dividers from Sum of their Stories

20.  Battery Storage Organizer from Organized 31

 

 

 

21.  Home Management Binder Free Printables from The Gracious Wife

22.  DIY Jewelry Organizer from CRAFT

23.  Organize Spices from Organized 31

24.  Organize Bathroom Drawers from Creative Green Living

 

 

 

25.  Color Code Your Keys from A Bubbly Life

26.  Mail Organizer from Noodlehead

27.  Magnetic Bowls from A Girl and A Glue Gun

28.  Magnetic Toy Storage from Creative Green Living

 

 

 

29.  Embroidery Hoop Wall Organizer from DIY Candy

30.  Tips for an Organized Pantry from Organized 31

31.  DIY Earring Holder from Sum of their Stories

32.  Necklace Hanger from Apple Green Cottage

 

 

 

33.  No Cost Easy Boot Storage from Organized 31

34.  Ponytail Holder Organizer from Hi! It’s Jilly

35.  How to Organize Under the Kitchen Sink from Creative Green Living

21 Spring Cleaning Tips & Tricks

21 Spring Cleaning Tips & Tricks

Spring cleaning is one of those chores that no one enjoys yet, it needs to be done. Today I’m sharing 21 spring cleaning tips & tricks to keep your home in top shape year round. 


1. Fill a dish wand with half vinegar and half dawn dish soap. Keep the wand in your shower. Before taking a shower, scrub the walls with the wand then rinse off. Source
2. To clean fan blades, toss a pillowcase over the blade then slowly pull off. All of the dust and dirt will stay contained inside the pillowcase. Source

3. Clean your burners without scrubbing. Place in a sealed ziploc bag with a 1/4 cup of ammonia. Leave overnight then wipe clean with a sponge. Source

4. Spend less time shining your faucets, sinks, and tiles by polishing them with turtle wax. The wax acts as a protective barrier preventing water and soap buildup. Source

5. Mix a few drops of essential oil with one cup baking soda. Sprinkle on your mattress and let sit for one hour before vacuuming. The baking soda will absorb any dirt, moisture and odors while the essential oil will leave the mattress smelling fresh. Source
6. Make your own citrus vinegar cleaner. Place citrus peels in a jar and cover with vinegar and let the solution sit for 2 weeks. After 2 weeks, strain and dilute 1:1 with water. Source
7. Use a vinegar to remove hard water stains from your faucet. Source
8. Make your sink shine by mixing borax with lemon juice to make a paste. Rub it on, then rinse it and wipe clean. Source
9. Use a rubber glove to pick up pet hair.
10. Fill ice cub trays with vinegar then drop a lemon slice into each one. Drop a couple cubes in your garbage disposal with some water to clean it. Source
11. Use a binder clip to air dry your sponges and keep them smelling fresh longer. 
 12. Clean your pans with tea tree oil. Source
13. Use a q-tip to clean tight spaces in your window tracks then wipe with a clean paper towel. Source
14. Clean stubborn stains by spraying with a water and vinegar solution and then use an iron to lift the stain. Source

15. Pour vinegar and water into a bowl and heat it in the microwave for a few minutes. The steam will help loosen any grime for easy clean up. Source
16. After cleaning your vents, apply a layer of wax to them to help repel dust. Source
17. Clean the glass on your fire place by dipping a wet paper towel in the ashes then wipe your glass with it. Source
18. Clean cabinets by mixing 1 part vegetable oil with 2 parts baking soda then scrubbing with a toothbrush. Source

19. Make your floors look new again. Spay on a mixture of 7 cups water, 1/2 cup baking soda, 1/3 cup ammonia (or lemon juice) and 1/4 cup vinegar. Let sit for an hour then scrub off. Source

20. Remove rust spots from your kitchen knives by soaking them in lemon juice. No source found
21. Sprinkle baby powder on shirt underarms and collars to help prevent sweat spots.

25 Supremely Clever Organizing Ideas That Will Make Your House Look Like It’s Always Tidy

Is your family bursting at the seams of your house, or do you just have too much stuff you just can’t bring yourself to throw away? Well do not fear, we have collected 25 of the world’s best organizing ideas for you to bring some order back into your life.

From over cluttered bathrooms, to busy and messy kitchens and bedrooms we have some fantastic ideas and DIY’s you can achieve at home relatively cheaply and simply. You don’t have to be a genius to achieve these wonderful space saving ideas.

25 Supremely Clever Organizing Ideas That Will Make Your House Look Like It's Always Tidy

 

1. Towel Storage Made From Artistic Tin Cans – Towels are such a pain to store, but with this DIY they can become a cool feature and arty centerpiece.

2. DIY Fold Down Desk – This is perfect if your children have limited space to play in. With a fold-down chalkboard come desk they play all they want and you can hide the mess afterward easily and quickly.

25 Of The Worlds Best Organizing Ideas

3. How To Add Storage To Your Car – By using a shower organizer you can de-clutter and provide practical easy to reach storage to help on long journeys in the car. Why not pack it full of the kids’ favorite toys, snacks, and emergency medical supplies!

4. How To Hide Your Clutter – This super cool idea allows you to store unsightly objects and mess in a secret box hidden behind spines of books – genius.

5. Above The Door Storage – No more wall space? Then this is the perfect DIY for you to maximize the space you have. Not only do they provide lots of useful space they look cute too!

6. Cosmetic Storage –  A really interesting way of storing your favorite make-up items using magnets giving you easy reach when looking in the mirror. It’s simple to achieve and can be a real style statement depending on the background design you chose.

7. Open Closet Solution – If you are stuck for closet space i.e. you simply don’t have any, then this is a solution for you, make a closet in any available space to hang your shirts and jackets to make sure they don’t crease.

25 Of The World's Best Organizing Ideas

8. Driftwood Hanger – Upcycle a beautiful piece of driftwood into a stunning way to display your favorite jewelry pieces. It’ll stand out from the crowd and make a fun focal point too.

9. How To Make A Floating Shoe Rack – Allow your shoes to simply float off the floor with this clever DIY rack. You can build it at the bottom of your closet and create some much-needed extra space!

10. Storage Solution For Hats – This creative tutorial means you can keep your hats un-crushed,  on display and easily accessible. Perfect if you can’t stop buying hats!

11. DIY Bag Storage – Girls have almost as many bags as they do shoes! The question is, where do they all go when they’re not being used? Check out this DIY idea for a brilliant solution.

12. How To Make Flip Flop Hangers – It’s easy to accumulate tonnes of pairs of flip flops, but it’s not so easy to store them…until now!

13. Coat Hanger Organizer – Keep your jewelry tangle-free and easy to get to with this super simple DIY that anyone can do. All you need is a coat hanger and a few screws – simple!

25 Of The World's Best Organizing Ideas

14. Hidden Floor Storage Tutorial – Why not use space that is rarely used and often forgotten about – under your floorboards.

15. PVC Pipe Shoe Holder – If you have too many shoes, then this DIY will help you organize your shoe addiction in a cool and innovative way.

16. Hanging Mason Jars – If kitchen space is at a premium then why not make use of the space under the cupboards, hang mason jars and fill with dried pasta, rice or cereal?

17. Kitchen Peg Board For Pots & Pans – This is a cheap and practical way of storing your pots and pans in the kitchen, it saves time searching high and low in crowded cupboards, as they remain in sight all the time.

18. Magnetic Spice Rack  – If you are a competent chef and have lots of spices and herbs, then this simple DIY will make your life so organized and uncluttered.

25 Of The World's Best Organizing Ideas

19. Can Storage – This DIY is a clever way to store cans in limited space. It also offers you great access for when you don’t have time to search through the whole pantry.

20. Kid-Friendly Mud Room – Organise your kids’ shoes, school bags, and coats in this handy tutorial for a mudroom makeover. It would be perfect in a garage – keeping all mess well out of the way, but accessible.

21. DIY Bike Rack – Sometimes we just don’t have enough room to store larger objects so this would be a great tutorial if you need to store your bike cheaply and safely. 

22. DIY Nail Varnish Display Case – Don’t hide your cosmetics away, cluttered and messy…get them out on display and make them a feature. Nail varnish colors can really brighten up any room.

23. DIY Lipstick Holder – Cheap to make, this DIY alternative is just as good as a store-bought product but for less than half the price! Don’t spend fortunes on something you can easily achieve at home by yourself.

25 Of The World's Best Organizing Ideas

24. Hanging Make-Up Holder – You may have make-up hiding in the back of your drawer that you forgot you had…but that won’t happen with this storage solution! Everything will be laid out perfectly for you to see.

25. Ice Cube Tray Office Organizer – If your home office is getting a little cluttered then this clever idea will save you time and space

Side hustles haven’t worked for me!

I always see various posts about side hustles and how they make quite a bit of cash in doing different side jobs, etc. I’ve read articles about doing online surveys, participating in data entry for a couple hours, shopping for other people.. I have tried a few things and I haven’t had any success, so far.

I am feeling a bit overwhelmed today due to the fact that it seems nothing thus far has worked. I should probably make a list of the things I’ve tried and perhaps come up with some idea of why I failed.

First thing was Amazon Turk. I’ve done a few things on there and it is worth nothing. Literally just pennies. I feel I’d be paid more to pick up change outside of a fast food restaurant. I think what was frustrating is it seemed I took time and quite a bit of it to do these little assignments and it just was a huge loss of time and I really didn’t gain anything.

Second thing I tried is REV. I posted on this awhile back. I got in and really was excited. I did get paid a bit, this does take time, and quite a lot of it especially if you’re new like I am. You have to score a certain amount after being accepted to move on to make more money as a real “REVVER” My scores were great. Except, the last one I did I received 2 points lower than normal. So unfortunately I was let go. It caused the score to drop at 3.8? I think. It needed to be 4.0. (It was a couple months ago) I could be a bit off about the scoring but nevertheless you get the idea. It is automatic and there’s no one to talk to about it. So I suppose I’ll just try again.

The third side hustle I tried was/is Poshmark. I’m still trying to figure it out. I just joined last month. I’ve not made any money yet but I’m trying to be positive about it and give it time. The women on that site are really great. They’re so kind and they share and like and comment. Super sweet ladies and I’m glad to be there even just for that. I’d like to figure it out better to make some sales.

I also tried survey websites. I didn’t really get ahead on those at all. Not sure if I’m not on the correct site or if those are really just a joke. Let me know if you have a better site to make a little cash from!

I do want to find something on the side. I’m a stay at home Mom and I’d love to make a little extra for some weekend fun with the kids.

Do you have a side hustle? Give me some tips!

Create a budget for income and necessities

All of the money you bring in each month is called Income.  Your salary, rips and even money that you get on a regular basis from family, investments, or anything else.  Income doesn´t include gifts, bonuses, and things of that sort. So leave them completely out of your budget.

Necessity items are the items that you absolutely have to have, these include food, home, clothing, medical care, etc.

Screenshot 2018-12-14 at 11.59.10 AM

To create a budget, you will need to compare your regular income to the cost of necessary items.  During this time,  if you should see that your income is less than you need to pay for necessities you should try to lower costs or increase income, here are some popular posts to do this here.  If you should see that your income is more than your cost of necessities, then you have money left over.

Use Budgeting spreadsheets

Budgeting spreadsheets are a perfect visual tool for keeping track of income and costs. Looking over these, you can see what you spend and how your costs compare to your income.

You will need to get all of your pay stubs and other incomes together as well as your receipts for the whole month. If you use a debit card or credit card for these necessary items then that will be on your monthly bank statement.

Keeping Track of Your Income

This budgeting spreadsheet is where you can track the money you bring in each month. If you’re not sure (because you earn tips that vary each month) you’ll need to keep a careful record for at least a couple of months. For now, though, you can estimate your tips.

INCOME SOURCE MONTHLY INCOME
Source 1:
Source 2:
Source 3:
TOTAL:

Keep Track of Your Necessary Expenses

This budgeting spreadsheet has all the bills you have to pay, although not all categories (like property taxes) will apply to all people. Many of these costs can also be reduced by shopping around. The miscellaneous categories are for you to fill in personal cost.

NECESSARY EXPENSE MONTHLY ESTIMATE ACTUAL
Rent or Mortgage
Groceries
Utilities (electric, gas, heat)
Water and Sewage
Trash Pickup
Health Insurance/Co-Pays
Auto Insurance
Auto Repairs/Maintenance/Fuel
Public Transit
Phone (Landline and Cell Phone)
Loan Repayment
Homeowners/Renters Insurance
HOA fee
Property Tax
Life Insurance
Hair Cuts
Basic Toiletries
Child Care
Clothing
Retirement
Misc #1
Misc #2
TOTAL:

Next Steps

Now you´ve written and seen how your income is with the necessary expenses, which means you are on your way to managing your budget!

Just in case you found that your necessary expenses are the same as or greater than your income, you’ll need to find more ways to save.

But, before you start cutting your costs, it is very important to get a full picture of what you really spend.  VERY few people spend only on necessities.

Most of us enjoy saving a little money to give ourselves more flexibility. The good news is saving money comes easily once you know the areas you need to hit.  You will get better at it!  Keep going!

 

What is your way to save more?  Do you have a specific system?

How to Pay Yourself First and make it fun.

 

Firstly I just want to say, Don´t make budgeting your personal expenses boring.  Many of us go about this the wrong way!  When people start thinking of how they´ll start to put a savings plan in action they do a strict budget system that is precise, How much for groceries, gas, utilities, etc and they end up hating it.

Those in financial fields such as advisors and planners highly recommend taking a different approach.  What´s this approach? Pay Yourself First when you get your paycheck rather than going into it only paying bills and starving your savings account.

freedom-2053281_1920

Type A versus Type B Personality in Budgeting

Making and keeping up with a strict budget system down the exact dollar is quite a time draining task.  Especially when it comes to tracking your actual spending.  This type of budgeting system may be enjoyable if you´re a highly organized Type A. But, the rest of the population doesn´t feel very excited or joyful about sticking to this type of strict budgeting.

If you´re like me and tend to be more of the ¨Big picture¨ type of person and it seems that you´ve never been able to make a solid budgeting system or stick to them in the past, I´d urge you to try the Pay Yourself budgeting method.

Remember when you said you save money for retirement?  Or, perhaps for that vacation you´ve always wanted to take? But, whenever you get your paycheck it all just goes on bills and unexpected things and any potential savings get spent on eating out or Target for non-essentials?

You then tell yourself that it´s okay, You´ll just save money from your next check?  Only to find that it´s a repetitive cycle that doesn´t stop?  Instead of waiting to pay yourself last, when there´s nothing left, make yourself a priority and put aside money into your savings first.  That way, You can take care of your future self.

According to a recent survey by the website Bankrate.com, more than a quarter of all Americans have no emergency savings at all, and only 23 percent have enough saved to get them through six months of monthly expenses if they were to lose their income.

How to develop the “Pay Yourself First” System

The Pay Yourself budgeting system begins by writing down how much you bring home per month.  For example, let´s say you earn $4k each month after taxes.

Write down your savings goals for each area of your life. Example, You may want to put aside cash for some of these areas.

  • $400 a month for an individual retirement account
  • $200 a month to put towards buying your next car in cash
  • $100 a month to put towards future car repairs.
  • $200 a month towards future home repairs and maintenance.
  • $50 a month to pay for an annual vacation
  • $50 a month towards future home, auto, and health insurance deductibles and co-pays, which you might want to consider an emergency fund)
  • $200 a month (or more) to pay for your kid’s college education

As you see this example gives you $1,200 a month to decide to put into savings for Yourself and your Family’s future. Now, subtract this $1,200 from your monthly net income of $4,000. You’re left with $2,800 per month. You can spend this money freely to pay bills, get coffee every morning, eat dinner out or whatever else you need or want, without worrying over what category it falls into.

Easy budgeting

This budgeting system really is easy because you don´t need to spend any time figuring out exactly what percentage of your money is going for rent, groceries, electricity, etc. Take your savings from the top and relax.

This budgeting system is very effective and SO many have benefited!

This Pay Yourself First budgeting system is a perfect approach, rather than the traditional approach that is boring and we find ourselves NEVER doing.  Keep in mind, Personal Finance is exactly that PERSONAL, so choose which works for you!

This system is really easy because you don’t need to spend any time figuring out what percentage of your money is going towards your rent vs. groceries vs. electricity. Just pull your savings from the top and then relax and use the rest to cover those expenses.

This “anti-budget” feels antithetical to the traditional budgeting model, but it’s equally effective.

The entire point of a budget is to make sure you’re hitting your savings goals without letting overspending in other areas eat up your excess funds. The traditional, line-item budgeting model is a bottom-up approach. The “Pay Yourself First” method is a top-down approach. Both are fine. Personal finance is personal, so choose whichever style works best for you.

 

What do you think of this method?  What methods have you used?

How much money to save to retire rich.

I was reading a great article this morning from CNBC about David Bach and what he says about retiring rich and how to do it. The whole article is here.  But, you can just read on and see what he has to say.

Getting rich starts with paying yourself first, says self-made millionaire and wealth manager David Bach. In short, that means, “when you earn a dollar, the first person you pay is you,” he writes in his bestselling book “The Automatic Millionaire.”

This paragraph is just astounding.  Perfectly said, Pay YOURSELF first.

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More specifically, if you want to retire rich, he says, “save 15 percent to 20 percent of your pretax income in a tax-advantaged retirement account,” such as a 401(k), 403(b) or IRA. If you want to be “rich enough to retire early,” he adds, contribute 20 percent or more to a retirement savings account.

These percentages come from Bach’s “pay yourself first formula,” which he created to give you an idea of what your financial standing will look like depending on how much you save. Here’s the full formula:

To be …

  • Dead broke: “Don’t pay yourself first,” writes Bach. “Spend more than you make. Borrow money on credit cards and carry debt you can’t pay off.”
  • Poor: “Think about paying yourself first, but don’t actually do it,” he writes. “Spend everything you make each month and save nothing. Keep telling yourself, ‘Someday … ‘”
  • Middle-class: Save 5 percent to 10 percent of your pretax income in a tax-advantaged retirement account.
  • Upper-middle-class: Save 10 percent to 15 percent of your pretax income in a tax-advantaged retirement account.
  • Rich: Save 15 percent to 20 percent of your pretax income in a tax-advantaged retirement account.
  • Rich enough to retire early: Save 20 percent or more of your pretax income in a tax-advantaged retirement account.

Can you relate?  It´s interesting, to say the least.  Let´s move on…

Keep in mind that “everyone’s life is different,” Bach writes, “but this should give you a benchmark to shoot for or plan around.”

“When you earn a dollar, the first person you pay is you.”-David Bach, bestselling author of ‘The Automatic Millionaire’

Saving 10 to 15 percent of your income may sound daunting, but it’ll be easier to do if you make it automatic — meaning, you have your contributions automatically taken out of your paycheck and sent straight to your retirement account.

Say you earn $50,000 a year. Setting aside 10 percent of that would mean $5,000 in savings per year. “Now, if you hadn’t put anything aside over the course of the year but instead waited until December to come up with this much money, how likely is it that you’d have $5,000 sitting around somewhere? Not very,” says Bach.

“But when you pay yourself first, you don’t wait. The 10 percent is taken out of your paycheck and automatically invested for you before you ever see it.”

And that $5,000 a year can really add up over time, thanks to compound interest. If you invest $5,000 a year for 35 years in an account that earns an annual return of 7 percent, for example, you’d have more than $750,000. Over 40 years, with an annual return of 7 percent, you’d have over $1 million.

Keep in mind the contribution limits for tax-advantaged retirement accounts: In 2019, employees who participate in an employer-sponsored 401(k) plan will be able to contribute as much as $19,000 per year. The limit on annual contributions to an IRA is $6,000.

 

What are your thoughts on this?  Do you Pay Yourself First?