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Passion Drives Participation: The End of Static Consumption | Amanda Patterson
January 31, 2018
Breaking the Cycle | Ana Laura Araya
February 14, 2018

Saving Cents | Shang Saavedra

“My mission is to make money less of a taboo subject and change as many lives as I can.” –  Shang Saavedra

(click to tweet)

We make money to spend money.

Or at least that’s what we feel on payday. Once the paycheck hits our Chase mobile app, we feel lifted to have a good time. We spend more freely in the days that follow, and if we’re not careful we become trapped in this treadmill. To get out requires taking a serious step toward saving money, and the first thing we can do is reframe the concept in our heads.

That is why today, on the $mart Women Invest podcast, we are joined by Shang Saavedra, Founder of savemycents.com. As a full-time consultant, Shang launched this passion project as a way to educate others on the different ways we can save money. In this interview, we hear her insights on everything budget-related, from how to start your own business with a full-time job to what grocery stores to shop at when eating on a budget. Tune in to hear from a savings expert!

“It’s about changing the tiny behaviors you’re not even aware of week-to-week that can lead to significant savings over a lifetime.” –  Shang Saavedra

(click to tweet)

Points to Keep In Mind

  • Prioritize paying off your credit card debt. The higher the interest rate the higher the priority.
  • Combat the tendency our society has to treat talking about money as taboo.
  • When trying to cut your discretionary spending, look at how much you’re spending on food.
    • Use Trader Joe’s over Whole Foods to try to get under $5 per person.
  • People are less aware of their annual bills (like car registration or insurance.)
  • People overspend on travel by getting an initially good deal on airfare and treating it as sunk cost.
  • Take a hard look at your living situation to find ways to lessen costs.
  • Integrate The No Spend Challenge to wake yourself up to your habits and impulse buys.
    • Discretionary buys: coffee, movie tickets, a piece of clothing you don’t need.
  • Buy clothing secondhand to get significant discounts.

Guest Contact

Website: Save My Cents

Instagram: @savemycents

LinkedIn: Shang Saavedra

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