often associate certain days of the week with particular
activities. For example, Monday is generally considered
the start of the work week. Perhaps Wednesday is the
night your favorite show airs on TV, while Friday ó
well, thank goodness itís Friday.
it comes to our personal finances, we should consider
following the same trend of associating days with
various activities. Each day of the week offers an
opportunity to save money or improve our finances. They
key is to be aware of how to save money by knowing what
steps to take on which day. Here are some tips to save
money each day of the week.
SET THE TONE FOR THE WEEK
Monday, you can set the tone for the week, helping to
determine if you stick to your spending plan for the
remaining days, said Tom Corley, author of the
bestselling book, "Rich Habits: The Daily Success
Habits of Wealthy Individuals." For example, if you
promised yourself that you would drink coffee from home
and pack lunches to save money, you need to make it a
habit starting on the first day of the week.
way to turn this into a habit is to make your five brown
bag lunches the night before," Corley said.
"Those brown bags will then act as a trigger,
reminding you to make your own coffee."
could even take it a step further and make Monday a
no-spending day to start your week off on the right
financial foot. Mark the day on your calendar and set up
an alert, so youíll get an email or message on your
smartphone every Monday reminding you not to spend any
money that day.
GET A DEAL ON A FLIGHT
you need to book a flight, itís wise to do so on a
Tuesday, when U.S. airlines typically release flight
sales, said Jeff Klee, founder and CEO of CheapAir.com.
Browse fares early to mid-Tuesday to find the best
caveat is that there are limited seats available at the
sale price, so you have to be super quick to book when a
sale is launched," he said, adding that Tuesdays
and Wednesdays are also the cheapest days to fly.
Because fewer people travel mid-week, itís smart to
arrange your plans so you leave and return early in the
week as opposed to on weekends.
is also a good day to get deals on dining and
entertainment because establishments tend to do less
business then. As a result, many restaurants ó
including T.G.I Fridayís, Chick-fil-A and Dennyís
ó host kids-eat-free days on Tuesdays, said Howard
Schaffer, vice president of deal site Offers.com.
many movie theaters offer discounted tickets and
concessions on Tuesdays, said CouponSherpa.com shopping
expert Kendal Perez. For example, Perez said she pays
$5.50 per ticket on discount days versus the regular
matinee price of $7.50 or evening price of $9.25. To get
discounts on concessions, consider joining your favorite
theaterís rewards club.
SAVE MONEY ON GROCERIES
is the busiest grocery shopping day of the week,
according to an article from The Street. However, itís
not the best day to go to the market if you want to save
save money on groceries, shop on a Wednesday," said
Kyle Taylor, founder of personal finance blog
ThePennyHoarder.com. "Thatís when most stores
release their weekly discounts, but theyíre also
likely to honor the previous weekís coupons (on this
your supermarketís local sales ad, which you can
generally find online or at the storeís entrance. In
many cases, you can locate "buy one, get one
free" deals or discounts of up to 50 percent, said
Taylor. To maximize savings, craft your menu and
shopping list for the coming week based on whatís on
sale. Additionally, Taylor offers specific tips for
saving more on your supermarket shopping trips.
often make the mistake of treating their retirement
funds like day-trading accounts, buying and selling
shares based on how the stock market is trending.
However, if you hold individual stocks in a brokerage
account, Thursday is a good day to sell stocks to lock
March 2009 through April 2015, Thursday has been the
most consistently positive day for the Standard &
Poorís 500 index. In fact, this day has posited a gain
more than 58 percent of the time, reported Jeff Hirsch,
editor of the Stock Traderís Almanac and Almanac
Investor Newsletter. The Nasdaq also closed higher more
than 78 percent of the time on Thursdays from January
through April 2015, Hirsch noted. Although he found that
Monday was the best day in early 2015 for stocks on the
Dow Jones Industrial Average, Thursday was the second
best performing day of the week for that index.
BUILD YOUR SAVINGS
you typically get paid on Friday, then itís a good day
to boost your savings. Rather than give in to the
temptation to indulge yourself by spending your entire
paycheck, Corley recommends having a percentage of your
pay automatically deposited into a separate savings
account ó ideally one without a debit card linked to
it. Doing this forces you to live below your means
because you wonít have easy access to those additional
is hard at first to pay yourself first this way, but
over time it gets easier," Corley said.
his new book, "Change Your Habits, Change Your
Life," the author writes that individuals should
set a goal of saving up to 20 percent of their income.
For best results, allocate your savings among four
buckets ó with half going to a retirement savings
account, 20 percent for major future expenses, 15
percent for unexpected expenses and 15 percent for
cyclical expenses, such as holidays and birthdays.
GET DEALS ON APPAREL
until the weekend to buy clothing, as thatís when you
can typically get the deepest discounts. Retailers such
as Kohlís and Macyís often have sales on Saturdays
that feature better markdowns than customers would find
during the week, said FatWallet.comís online shopping
expert Brent Shelton.
consumers can score extra discounts by using their
mobile devices, he said. Download retailersí apps to
get exclusive deals and take advantage of all the best
ways to save money.
weekend shoppers can take advantage of coupon codes,
which are released from apparel merchants in the highest
volume on Fridays, said Slickdeals.net shopping pro
Regina Conway. "In some cases, you can apply the
code on top of weekend sale pricing to save even
more," she said.
REVIEW YOUR SPENDING
Sunday is usually a day to relax, itís also the
perfect time to make sure youíre on track with your
weekly and monthly spending plan," said Holly
Johnson, a credit expert and creator of ClubThrifty.com.
Johnson and her husband sit down every Sunday to review
their budget and see how much theyíve spent in each
category ó such as food, gas and entertainment ó and
how much they have left for the remainder of the month.
"This helps us Ďresetí our spending and make
sure weíre on track with our monthly spending
goals," she said.
Sunday, the Johnsons also pay off their credit cards,
which they use for all of their regular purchases to
create a paper trail and maximize credit card rewards.
Even if you donít pay off your credit card balance
each week, itís a good idea to check your account
regularly to ensure there arenít any unnecessary fees
or unrecognizable charges that could be the result of
your spending on Sunday to start the week off on the
right financing footing come Monday.