I saved 50% of my income for a month — and it wasn’t as impossible as I expected

In addition to boosting my savings, the month taught me a few important lessons about the ways I handle money.

This challenge taught me a lot about my spending habits.Leigh Anne Zinsmeister/Business Insider

Strategic splurges are worth it.

As I mentioned, I knew my friend’s bachelorette party would cost me more than a typical weekend at home. But I was more than happy to do it — she’s a close friend, and I’m overjoyed to celebrate her upcoming marriage with her. Though it cut into my limited budget for the month, I carefully planned around expenses like this in my yearlong budget, curbing my shopping and passing on weekends away.

Spending money on experiences and relationships is a worthwhile splurge to me, and the trip to Nashville ended up being one of my favorites of the year.

Don’t ignore easy ways to save.

CVS’s ridiculously long receipts aren’t just a running joke — they’re coupons, and they’re actually helpful. I started paying much closer attention to where I could get a few dollars off and how I could combine rewards to maximize my savings, and it paid off. I saved around $12 in September, which might seem like small potatoes at face value, but $12 (or more) a month adds up.

Spending money is not a bad thing, but wasting it on unnecessary purchases is.

I firmly believe that investing in a quality item or splurging on dinner with a friend is a justifiable expense. But I found several avoidable ways I had been wasting cash.

For example, when I have plans to meet a friend after work for a non-food-related activity, I stop by Chipotle or somewhere similar to grab dinner. Over the past month, I started packing a quick meal instead and saved at least $50. I plan to continue being mindful about these seemingly innocuous purchases going forward and concentrate on making meals out a social activity, not something I do out of laziness.

Choosing to save so much is a privilege.

Money is personal. And while financial independence or early retirement isn’t one of my main priorities, I’m grateful that I have the opportunity to choose to work toward that if I want to. I’m blessed with a good job and comfortable lifestyle, and this challenge reminded me to never that for granted.

Cutting back on spending doesn’t have to mean pinching pennies or living on nothing. My biggest takeaway from this challenge is that there’s always room to improve my finances — save more, invest smartly, give generously — while still enjoying a full lifestyle.