Almost everyone wants to save money where possible, but some people think it’s too hard to even try. As you’ll soon see by reading the tips below, saving money is possible, and it doesn’t have to take a lot of time.
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1. Automate Money To Go Into Your Savings Account Every Month
Consider putting a portion of your monthly income into your savings account every month with an automatic transfer. After all, you won’t be tempted to spend money you never see.
2. Plan Out Your Meals
Impulse purchases at the grocery store are costly. Avoid those by diligently planning every meal, even down to ingredients.
3. Use A Budget App
A budget app such as Mint can let you know if you’re going over a predetermined limit when spending money. Using one can help you stifle spending quickly.
4. Let Your Shopping Be Guided By Sales
Make your shopping list be at least somewhat dependent on which items are being sold for the cheapest price. Look through the advertisements online or in the newspaper.
5. Swap Soda For Water
If you are someone who drinks a lot of soda, you might be surprised just how much the cost of those cans adds up. Try tap water instead, even if that means buying a filter and considering it a long-term investment.
6. Make A Plan To Pay Off Debt
Write a list of all your debts with the smallest amounts first. Then, whenever you have any extra money, devote it to paying off each debt.
7. Consider Getting A Second Job
This tip isn’t realistic for everyone, but if it could work for you, think about getting a part-time job and preferably one where you can earn tips to supplement your hourly rate.
8. Become Aware Of Your Expenses
Write down every expense you have. Then, examine the list to see which can be cut out entirely, or see whether you can save more money by being especially frugal.
9. Revisit Your Insurance Rates
Some people choose one insurance provider and stick with that company for years. Annually, double check and make sure the rate you’re paying is really the best available.
10. Clip Coupons Sensibly
It’s probably not worthwhile for you to spend hours per week clipping coupons, but it is smart to keep a sharp eye out for those that can save you the most money. Then, you’ll be getting the most for your efforts.
11. Consider Large Purchases For At Least A Month
Wait at least a month before buying large purchases. That gives you time to weigh the pros and cons.
12. Stay Aware Of Card Fees
You may be getting slapped with periodic debit and credit card fees without realizing it. Review your statements every month and question any fees that seem as if they shouldn’t be there.
13. Begin A Fund For Emergencies
Having some money set aside for emergencies can help you avoid going into debt if your situation suddenly changes. Even if you just put $25 per week into it, that’s $100 per month that could provide a worthwhile cushion.
14. Adjust Your Thermostat
Change the temperature of your thermostat by one degree in either direction, depending on the season. It won’t make a major difference right away, but you could notice a difference from one year to the next.
15. Repaint Furniture Instead Of Replacing It
A fresh coat of paint can really spruce up a tired-looking piece of furniture. Consider breaking out the brushes before running to the furniture store for something fresh.
16. Buy Wholesale Rather Than Retail
A retail store may seem like the most convenient option for buying things you need, but it’s not always the cheapest. See if your community has any wholesale stores to try instead.
17. Request A Lower Interest Rate
Sometimes, getting a lower interest rate on your credit card is as easy as calling the provider and seeing what your options are. A high interest rate can really eat into your income.
18. Be Mindful Of Maintenance
Prevention can save hundreds or even thousands of dollars, especially when you carefully maintain things like major appliances or your car.
19. Get A Cash-Back Credit Card
Credit card dependence isn’t ideal, but if you must have one, choose a card with cash-back rewards so you get paid to spend.
20. Cut Out Expensive Habits
This one takes a while to do, but you’d be surprised how much you can save by giving up things like daily store-bought coffees, cigarettes, or alcohol. Try to curb the habits that are most costly.
As you can see, saving money isn’t very hard, but thanks to these simple tricks, you can enjoy more cash in your bank account.