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How I got Good at Saving Money

After college, I saved up enough money that I was able to quit my job and live without a paycheck for a full year when the inspiration to start a business hit me.

I would never have been able to create Tip Yourself if I didn’t have that money saved up.

An entire year with no paycheck. How did I do it? What’s the secret?

There are two important mindsets that have helped me save money throughout my life.

1. Saving Money is Buying Freedom

I approach saving money as “paying myself”. I’m sure you’ve heard that advice before, but have you actually taken the time to contemplate what that really means for you personally?

First, let’s examine the opposite mindset. The mindset of savings as a sacrifice.

If you view saving as a “sacrifice”, as money that you could have spent but decided to save instead, you’re going to have a harder time feeling good about saving.

With this bad mindset, you’re constantly feeling like you’re missing out like you gave up something fun or enjoyable. Lose that mindset now.

Try this mindset instead…

View saving money as paying yourself, as “buying” peace of mind and freedom. Money in the bank is not money you’ve decided not to spend. Money in the bank is freedom.

Money in the bank is not money you’ve decided not to spend. Money in the bank is freedom.

So do you want those new shoes, or do you want more freedom and peace of mind? What’s more important to you?

Saving money is not a sacrifice, it’s a choice of what’s more important to you.

Make that conscious choice. Finding money each month to save is not about depriving yourself, it’s about rewarding yourself. You earned it!

Now, the second key mindset…

2. Focus on Habits Not Dollars

Instead of setting a dollar goal, focus on changing or building a new habit.

Bringing lunch to work a few days a week. Only buying things off a list to curb impulse purchases. Writing down a spending plan each payday. Taking the bus instead of an uber.

Find a habit you can change or build that will impact the money you spend each month. Focus your goal there not on the dollars.

“I’m going to bring my lunch to work 4 days a week” is a better goal that I’m going to save $100 a month.

And guess what, you’ll actually end up saving that money!

But by focusing on a habit not on the dollars your energy and willpower is spent building true lasting change. Which is how you make a real impact on your life.

So what do you think? What are a few habits you can focus on building?

Make a plan today and each time you successfully perform that habit, Reward Yourself by saving money.

Not a Tip Yourself Member yet? JOIN TODAY

Buy yourself a little more freedom. Put some money in your own Tip Jar. Tip Yourself. You earned it.


A lifelong student of habits and behavior change. Mike is the CEO and co-founder of Tip Yourself, a mobile app and community focused on saving money through positivity and small shifts in habits.

3 thoughts on “How I got Good at Saving Money

  1. Thank you for sharing tips on saving money. It helps me get a better perspective on things. Such as when you said buying shoes or saving money & I thought right away, the shoes. Haha. A good read. Thanks again.

  2. I really love the Tip Yourself app! I’ve been horrible in the past about saving money! Reading your blogs about changing your mindset and paying yourself for little things has really helped me safe this past month. Thank you! I agree saving money is freedom!

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