12 Budget Savvy Black Women Share Their Best Money Saving Tricks

They're so simple you won't believe it.

Brittney Oliver Mar, 14, 2017

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"I started using an app called Qapital to save money. It's great because your account is linked to your bank, and you can make rules for yourself to save for your goals during a certain period of time. I have a few goals, but right now, my goal is to save for a Jamaica trip next month, so my rule is 'Set it & Forget About It' where I set the amount the app will deduct every week to put towards my goal out of my checking account. (You can choose daily or monthly options as well.) I needed the structure of this as an entrepreneur because when you eat what you catch, you don't always remember to save some for later. " -- Tiffany Hardin, Founder Gild Creative Group & She Knows Now


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“For a long time, I believed that I would never be good with money. When I opened my company Glass Ladder Group I had to get over that fear quickly. To overcome my fear I began to consistently track my spending habits by using apps like Mint and spreadsheets. Doing this helped me understand what my money was actually being used for. Once I understood that I switched over to a cash-only budget for things I normally overspend on like going out to eat or Target.” -- Sabrina Garba,  CEO of the Glass Ladder Group

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“My family is the new age Brady Bunch story, and together we have a household size of nine.  In order to make it day-by-day I had to learn the art of couponing and saving fast!  It has become so much of my daily life that I recently formed a Facebook group called 'Discounting and Couponing for Marylanders'. The biggest tip that I could pass on for those who want to save is to never pay full price! Do your research to check local stores and compare the best prices. An easy way to search local stores is by using an app like flipp.com. It provides coupons and popular store sales flyers. Couponing is time, preparation and organization, but anyone can do it just be prepared to put in the work.” -- Lloydrica Ann Jones, Dental Assistant

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“I am a new mom, and once I realized how expensive baby essentials could be, I decided to be a little bit more intentional on how I saved money. I literally registered for any and all product lines that had a rewards program. For example, Pampers brand allows you to input rewards codes for every purchase you make. Those rewards turn into savings! I have also gotten more hip to coupon apps. Target's Cartwheel app is a good one, and there is also an app called Shopkick that rewards you with gift cards for shopping at specific stores.” -- Brittany Harris, Diversity & Inclusion Practitioner

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"To save money, I set up a recurring automatic transfer of funds from my checking account to my savings account.  I transfer enough to save a substantial amount of money without feeling the need to tap into my savings whenever I’m shopping for necessities or when I want to treat myself to something nice like a massage or a new outfit." - Jessica Ekundare, System Engineer

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"Up until a few years ago, I didn't have a good relationship with money and my saving habits were subpar. It wasn't until someone shared an image of the Denise Hadnott's one-year savings plan that I started to look forward to putting money away." - Tykia Key, Marketing Consultant

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"Figure out how cash back programs works for your credit card, if you have one and budget out your spending that way. For example, I receive 3% cash back on my food and gas purchases and the money that adds up at the end of the period can be deposited into my regular checkings or savings. It helps me monitor my spending and keep track of my purchases so I'm more mindful of where and what my money is doing." - Terja Gibson,  Non-Profit Professional

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"I pay myself first, allocating 10% of my budget to savings. I put 50% of my savings in an online banking account like Ally and 50% in an 'invest your change' ETF called Acorns. If you're savvy with investing, then Acorns probably wouldn't make sense for you. However if you're new to the game like I am, you can learn more about investing while getting higher returns than you will ever receive from a savings account. Last month I received 5% on my investments." - Heather-Sky McField, Operations Manager

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"I recently vowed to only buy lunch once a week and the money I’ve saved thus far has been mind-blowing! Spending a little extra time to pack lunch in the morning will save you a few coins for a rainy day. Let’s be honest, you can say no to the weekly happy hour invites with the girls. Buy a bottle of wine, turn on Scandal and enjoy some me time while saving a few dollars." - Mercedes Smith, Communications Professional & Founder of CareMore

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"Put all your bills on your credit card which will help your credit score since you have to pay your bills regardless. You can then pay the credit card by using your debit card. Also, use your debit card for miscellaneous and small expenses." - Alexandra Belizaire, Supply Chain Services

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"I use Mint to keep track of ALL my spending-- even business purchases related to my magazine. It syncs up all my credit cards, debit cards, and even upcoming bills to keep me on track with a monthly budget I set within the app. I set my budget at 2/3 of my take-home pay to make sure I have some money saved by the end of each month for long-term financial goals. Each year I set a goal to save X amount by December and track monthly to make sure I reach that yearly goal."  Kian Hervey, Editorial Director, Forty Magazine

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"Budgeting for bills and also monthly discretionary spending's such as brunch, nails, and entertainment allows you to plan to consciously spend so you don't have to cut corners on things you truly want and need.  I often buy tickets for concerts on StubHub at the last minute to save money because a lot of times great seats for high demand shows in large stadiums end up selling for face value or lower." – Brittney Blackmon, Luxury Sales and Marketing