Save More Money with These Tips
Everyone wants to save more money, but not everyone has the knowledge or feels like they have the power to do so. With these helpful savings hacks, you can learn how to save more money for the things that matter.
Whether you’re interested in saving to go on vacation or to put a down payment on a house, these tips will help you reach your financial goals faster.
- Accept Help (from Apps)
There are so many money-saving apps out there. And a lot of them are free! Whether you’re using a dedicated financial app like Truebill, or a shopping rewards app from your favorite stores, you can let the tech help you save some cash.
Think of a few places where you know you’re going to spend money. Then, download their apps and see what you can save. You can also set up a bank account that helps you save money automatically.
2. Stop Shopping at Gas Stations, Corner Shops, and Convenience Stores
When it comes to the stores you always shop at, do you tend to buy little things like drinks or snacks out of convenience? If you do, changing your habits will pay off. Not only do these small expenses add up—they also tend to cost even more at “convenient” shops compared to the grocery store. Plan ahead or avoid indulging yourself.
3. Eat Out Less
When it comes to nourishing yourself, eating out for whole meals will be a lot more expensive than a snack here or there. Limit take out and eating out to once a week or less and see how much you save. And if you’re already living a frugal lifestyle, consider cutting out takeout and restaurant meals completely.
4. Make Coffee at Home
At at-home latte may not seem as fancy as one from your favorite coffee shop, but when you make this lifestyle change, you’ll see how much you can save. Do the math and see if this hack is right for you.
If you drink a $5 cup of coffee every day, it costs about $35 a week, $120 a month, and $1440 a year. What would you do with the money you save?
5. Meal Prep More
Meals are one expense you literally can’t live without, but that doesn’t mean you need to spend a fortune. Explore ways to cut down on costs when it comes to eating—without cutting out the essential nutrients you need to function.
Meal prep is essential for eating at home. The truth is that you’re going to want to cook every time you’re hungry, so you need to prepare some simple things to make eating at home faster and easier.
One of the best ways to save money, time, and energy is to cook larger batches of food, portion them, and freeze them. Crockpot meals that go well with crackers, bread, or rice are the best, such as soup or chili.
6. Don’t Waste Food
One reason why people tend to spend more money on groceries than they need to is that they end up throwing it out when it goes bad. The solution? Only buy what you need and know you will eat.
Avoid shopping based on what you “should” eat or what seems to be a great deal. If you get an amazing deal on something that’s about to expire, it won’t be so awesome when that food ends up in the garbage. And if you have any product that’s going to spoil before you’ll eat it, freeze it to use later.
7. Resist Impulses—Or Have Someone Else Do the Shopping
Another thing that accounts for wasted money when it comes to grocery shopping is junk food. Things like candy, cookies, desserts, chips, soda, and juice offer no or little nutritional value and cost more than they’re worth.
Although you might think that the buy one get one free deal on candy makes it worth it, consider how many fruit or vegetables you could buy with the same amount of money. Then, compare how you would feel if you ate that amount of produce versus that amount of candy.
Skip the unhealthy snacks and any other whimsical purchases. If you notice that your impulsivity always gets the best of you, see if a friend will help you stick to your list or do your shopping for you. There are also delivery services that can help—but you’ll have to decide if the fees are worth it for you.
8. Install Water-Conserving Faucets and Shower Heads
There’s more you can do than be colder in the winter and hotter in the summer to lower your utility bills. If you pay for water, one of the best ways to save money, in the long run, is to install low-flow showerheads and faucets. They decrease the amount of water that your faucet puts out, and most of the time, they’ll also increase your water pressure. It’s a win-win situation.
9. Insulate Your Home Better
Another way to lower utility bills is to ensure your precious (and expensive) heat and air conditioning stays inside where it belongs. Instead of adjusting your thermostat to the extremes, seal any cracks around windows and doors.
You can also buy under the door draft stoppers—or DIY your own with a rolled blanket and some rubber bands. Fold it to the width of your door in one direction. Then roll it up from both of the short ends to meet in the middle. Slide rubber bands or hair ties around your creation, and then slip it under the door!
10. Pay Zero Interest (If You Can)
Interest is a considerable expense that holds many people back from reaching their financial goals. If you have any credit card debt, paying off your balance should be a priority. As interest accumulates, you end up paying way more in the long run.
11. Monitor Prices (and Wait for the Drop)
If there’s an item you want to purchase, it’s better to watch the prices and wait for it to go on sale. If you buy something fresh off the production line, it’s going to be marked up at full price. Especially for items like technology and seasonal clothing, shop with a strategy to save more money.
12. Track Your Spending
When you can see how much money you’re spending, you’ll be able to create goals for how much you want to cut back. If you categorize those expenses, you can see what lifestyle changes could save you a lot of money.
For example, if you love wine, you could be spending over $100 a month easily—or more if you prefer pricier bottles. You could decide to only drink Trader Joe’s infamous Two-Buck Chuck wines for a month and see how much you save.
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