No one is looking to save a buck more than a Los Angeles actor! Our paychecks are inconsistent and our careers can often cost more than we make! So what’s an actor to do to save money in this pricey city? Here are our top tips on how to enlighten your finances in “Let’s Spend Less & Live More.”

Figure out where the money you have is already going. Sign up for a free Mint.com account to help you see what’s what. Even a financially challenged artist like myself can utilize Mint’s resources like a pro. the graphs are colorful and informative. And sometimes just seeing that you are wasting $120 a month at Starbucks is enough to stop you from doing so. (Not that that happened to me or anything. It was a friend of mine. Yeah.)

Remind yourself of what really matters. Maybe it’s keeping a photo of a loved one in your wallet or a tiny print out of the Emmy you want to one day win. Somehow after looking at that picture, it’s easier to skip the mall. Reminding ourselves of where our priorities are has a huge impact on smartening our spending.

Make an opportunity fund in lieu of a savings account. Okay, semantics. But words are powerful and calling a savings account your opportunity fund will undoubtedly encourage you to put more money into it. You can even specify what you are saving for if you need added motivation. Specificity works wonders here, just like it does in the audition room. I’m way more likely to put spare dollars into “My tropical paradise Belize Film Festival fund” versus a boring old Emergency fund.

Pay in cash. Ouch. Psychology tells us that we spend cash far less frivolously than we will swipe our debit cards. Something about handing over our hard earned bills makes us think twice before purchasing. Even better if you create a budget and put the amount you are allotted to spend on each category (movies, clothes, food) into actual paper envelopes. Then the chances of going over budget are slim to none. Some of the savviest financial gurus I know still use this old paper system. So think twice before you swipe.

Brown bag it. I know you may not have an office refrigerator where you can keep a week’s worth of salads, but that’s no excuse to splurge your dollars and calories on constant fast food purchases. Next time you go to Trader Joe’s buy a case of water, car friendly snacks, and lunch items to pack with you. Our days can be long running from a commercial callback in Santa Monica to a pre screen in Burbank, so be prepared. Waking up the 15 minutes earlier to pack a lunch will save you more time in the long run. Bonus points if you then take the bucks you would have spent on lunch and put it into your savings account. Homemade lunch looks a lot more appealing when you see the bucks adding up in your account.

Make a list and stick to it. Whether it’s for groceries or audition clothes, don’t stray from your specific list of needs. If what you really need is a preppy young mom sweater for commercials, now isn’t the time to splurge on that sexy sequin skirt. Sorry. That can go on your Wish List. But stick to what you actually need to buy to avoid emotional purchases that you will later regret.

Shop on the perimeter of stores. All the essentials in the grocery store, as well as all the sale items in a department store are kept on the out most sides. Veer away from temptation by keeping outside the center.

Skip the drycleaning. Watch out for audition pieces that need constant care. The blouse may be on sale, but if it will cost you an arm and a leg in dry cleaning bills, it’s better to skip it. Save the cleaners for your most special formal pieces. It all adds up.

Take care of what you already have. Maybe that means taking your audition shoes to the cobbler or ironing your button downs. Put in time to make the most of what you already have before buying new. There is a bigger life lesson in there somewhere.

Convert the costs. We love this tactic described by MoneyNing.com. Keep your spending in line with your budget by converting the cost of an item into units you know well. Their example was ramen noodles, which cost 25 cents per packet. While a shirt that’s on sale for $50 might seem like a bargain in its context, it costs 200 ramens — a price that might make a dedicated noodle-eater think twice. Make up your own (personally meaningful) unit of currency — headshot reproductions, Rieslings, interest payments, anything — and divide the cost of an item by it. One jacket or one month’s interest payment? Still a good deal?

Break legs!
Megan