No matter where you stand in your financial journey, you need to believe that it’s not impossible for you to turn your financial life around and start to save money. Sometimes all it takes is one step in the right direction to get things going in your favor. And, as with most things, that the very first step is the hardest part of the journey.
This article will talk about simple and easy ways to save money starting today. These steps are simple and yet can make quite a difference over time if you are consistent. These suggestions take just a few minutes to implement but they do require a bit of regular effort.
- 1 Tips To Save Money:
- 1.1 1. Use Bank Accounts for Perks and Interests:
- 1.2 2. Selling is Better than Collecting:
- 1.3 3. Credit Card:
- 1.4 4. Free Customer Rewards Program:
- 1.5 5. The 30-day Rule for Mastery:
- 1.6 6. Stick to the Shopping List:
- 1.7 7. Invite Friends to Your House:
- 1.8 8. Repair Clothing Instead of Throwing Them Out:
- 1.9 9. Avoid Spending Huge Money Entertaining Your Children:
- 1.10 10. Negotiate Rates with Credit Card Company:
- 1.11 11. Clean Out:
- 1.12 12. It’s Time to Quit Smoking:
- 1.13 13. Switch Off the Lights:
- 1.14 14. Swap Stuff at the Library:
- 1.15 15. Maximize Savings with Yard Sales:
- 1.16 16. A Programmable Thermostat:
- 1.17 17. Always Buy Quality Appliances:
- 1.18 18. Schedule Your Meals as Per Your Grocery Store’s Flyer:
- 1.19 19. Do a Price Comparison for Grocery Stores:
- 1.20 20. Make Your Own Bread:
- 1.21 21. Refrain from Stress-Spending:
- 1.22 22. Schedule a “Maintenance Run” for Your Appliances:
- 1.23 23. Buy Used Whenever You Can:
- 1.24 24. Delete Your Credit Card Numbers from Online Accounts:
- 1.25 25. Try Holiday Shopping Right After Holidays:
- 1.26 26. Remove That Clutter to Save Some Cash:
- 1.27 27. Try Generic Brands for Items of Regular Use:
- 1.28 28. Make Some Meals at Home:
- 1.29 29. Term Life Insurance:
- 1.30 30. Avoid Shopping at the Mall:
Tips To Save Money:
Obviously, these tips are not universal and you should choose according to your comfort. If you patiently go through the entire list, you will surely find 10 things that do apply to you and use them in your life.
1. Use Bank Accounts for Perks and Interests:
If you have to pay a monthly fee for your savings account, you should research some of the newest banking offers out there. Some of the best banks offer sign-up bonuses only for opening an account or setting up a direct deposit and some of the banks also offer attractive interest rates to new customers.
Interest rates may not be at the level where they once used to be, but it’s still worth a look. Some of the free checking accounts or savings accounts can be found online and you should definitely have a look.
2. Selling is Better than Collecting:
Gone are the times when people thought their collections would bring them riches. Right from Beanie Babies to the Longaberger baskets were all a big fad at one time. Now, these items can be found on resale sites like Craigslist and also at garage sales at a price which is a fraction of their initial cost. These items have left many people who sunk thousands of dollars into their so-called “investments” wondering what happened.
To avoid that situation, don’t blindly collect items of questionable value. If you have already done the mistake and want to redeem some of the money you’ve already spent on collectible items, then you should start selling them now and use those funds for towards financial goals.
3. Credit Card:
If you have that dreaded habit of overspending with credit cards, you should probably hide your cards and keep them in a safe place in your home, and definitely not in your wallet. Just by keeping your card “out of sight and out of mind” you will reduce the temptation of spending while you’re out and about.
4. Free Customer Rewards Program:
In every neighborhood, you’ll find a lot of retailers who are willing to reward you for shopping at their store. To maximize the profits from these reward programs, create a Gmail or Yahoo address just for these mailings. Then collect every card you can, and keep checking that account for extra coupons whenever you’re ready to shop.
You can then use those rewards and discounts by redeeming rewards credit cards to earn points on purchases at all those stores for cashback or other benefits.
5. The 30-day Rule for Mastery:
Controlling the urge for instant gratification is one of the most important fundamentals of personal finance. Just waiting for 30 days to decide on a purchase can be an excellent way to implement that rule.
More often than not, after a month has passed, you’ll realize that the urge to buy the product has passed as well. You’ll have saved yourself a lot of money simply by waiting.
6. Stick to the Shopping List:
One of the best ways to stop wasting money is to only shop when you have a list. I go out shopping without a list, then you typically end up making impulse buys and unplanned purchases. All those things end up costing a lot of money.
Creating a prior list before you go to the grocery store is extremely important. It will help you buy items that fit with your meal plan and also it can also help you avoid buying food you might waste. Always remember to create a list and, most importantly, remember to stick to it.
7. Invite Friends to Your House:
Going out to eat is a big reason of completely destroying both your food budget and your entertainment budget in one go. To everyone’s surprise, it is always cheaper to stay in with friends and plan something for your own entertainment.
Instead of hitting the road, try hosting a fun pitch-in dinner with your friends. You can play cards, sit around a fire pit, or even watch movies with your guests. You’ll all save a lot of money while having a blast with your friends.
8. Repair Clothing Instead of Throwing Them Out:
Don’t throw out a shirt just because of a broken button. You can sew on a new one with some closely-matched thread. Don’t throw out pants just because of a hole in them. You can put in a patch of some sort and use them when you’re working around the house.
The basic sewing jobs can be done by anyone, while a little bit of practice can take you a long way. Learning basic sewing techniques is a great way of saving some money. It will also extend the life of your clothing.
9. Avoid Spending Huge Money Entertaining Your Children:
Children, especially the young ones, can be entertained very cheaply. We can buy them an end roll of newspaper from your local paper and just witness their creativity run wild. You can play ball with them in the backyard. One can always head to the park or plant a garden together.
You need to realize that what your children want most is your time and not you buying them stuff. You’ll find money in your pocket and joy in your heart at the same time.
10. Negotiate Rates with Credit Card Company:
If you end up paying a lot of interest on your credit cards, it’s very important to know that you can exercise some power as long as you are making your payments. Not only does it give you the right to negotiate your current interest rate with your credit card issuer, but you can also exercise the right to transfer your balance to an entirely different card as well. Apparently, that is perhaps your biggest bargaining right.
You can take the first step by calling your card issuer at the number on the back of your card and letting them know about your request. If you can’t make any progress with this, then check out the balance transfer credit cards to find one with an introductory 0% APR. This could help you in saving hundreds of dollars in interest over time.
11. Clean Out:
It’s probably time to go through your closets and find anything and everything you no longer use. Then, instead of just getting rid of it, use it for your benefit.
You can go for a yard sale with it, try selling it on eBay or Craigslist or taking it to a consignment shop. You can even donate it for the tax deduction; just don’t forget to get the receipt. All these options can convert the old stuff you don’t want into some money in your pocket. Additionally, it’s also a psychological load off your mind to clean out your closets.
12. It’s Time to Quit Smoking:
If you’re a smoker, you need to know by now that your habit is not only an expensive one, but potentially deadly one too. If you look forward to add years to your life while saving a boatload of money, the easiest thing to do is to quit cold turkey altogether. You can try some of the many anti-smoking products that are available out there, or you can even switch to an electronic cigarette to buy some time.
13. Switch Off the Lights:
Keeping the lights on in your home may not be that expensive, but it sure does cost a lot of money over a long period of time. In order to save as much as you can, turn off the lights any time you are leaving your house or even when you have to leave the room. Turning off lights when you have access to plenty of natural sunlight will also help in keeping your electric bill down over time. The bottom line is that if you aren’t using a light, then it’s better to turn it off.
14. Swap Stuff at the Library:
You will be surprised at how easily you can swap the books, CDs, and DVDs you’ve grown bored with online. Just swipe out your media collection, and trade them with people online using sites like PaperBackSwap. If you happen to live near a library that provides DVDs in addition to books as a loan, then you’ll be even better off. The more you are able to borrow and barter with others, the more money you can save over time.
15. Maximize Savings with Yard Sales:
Yard sales can be a great place to score awesome deals on items you need urgently. Items like housewares, shoes, clothing, or even sports equipment can be bought at a great bargain. The key is to be careful in not using the low prices found at these sales as an excuse to buy things you don’t even need. When you go to the next garage sale, limit yourself to items that were already on your list of things to buy.
16. A Programmable Thermostat:
Installing a programmable thermostat is a great idea if you want to cut down on energy usage while you’re not at home, or if you simply want to regulate the temperature in your home. Just by setting it to heat or cool your home at certain times, you can rest assured that your utilities aren’t being wasted while you’re at work or asleep. This will save you a lot of money in the due process.
17. Always Buy Quality Appliances:
It’s always worth the time to do research when you want to buy a new appliance. A reliable, energy-efficient appliances might cost you quite a bit today, but if it continually saves you energy and lasts for a much longer period, then you’ll be saving significant money in the long run.
18. Schedule Your Meals as Per Your Grocery Store’s Flyer:
Instead of making your meal plan in a random manner, plan all your meals around what’s on sale at your grocery store’s flyer. Always be looking for the biggest sales and then plan recipes based on those ingredients, combining them with what you have on hand. Keep doing that for a few months and you will easily find yourself with a much smaller food bill than you earlier used to have.
19. Do a Price Comparison for Grocery Stores:
Most of us get hooked in a routine of shopping at the same grocery store. We even fail to realize that we may not be getting the best deal. However, there’s a very simple way to find the cheapest store around your neighborhood. Just keep track of the things you buy most often and then randomly shop for these items at a variety of stores. Eventually, one store will emerge on top for your purchases. Just make that shop your regular shopping destination for a while and you’ll automatically start saving money.
20. Make Your Own Bread:
We all, at some point in time, have thought that making homemade bread would just be a complicated waste of time. But once you give it a try, you will find that it is pretty easy and it is actually much cheaper, healthier, and tastier than buying a loaf from the store.
21. Refrain from Stress-Spending:
It’s easy to go into the loop of spending money just to wind down from a stressful day at work. However, it’s not a very good idea. Instead of buying things you don’t even need just to make yourself feel better, you should act wisely and find other ways to de-stress instead.
Exercise is always a far better option, and so is meditation or even a good old-fashioned nap. Read a good book, watch that favorite movie of yours, or work out if you’re stressed out. Spending money is not going to reduce your stress in the long run.
22. Schedule a “Maintenance Run” for Your Appliances:
Check your appliances to make sure there isn’t any clogging and ensure that they’re fairly clean. Make sure to look behind the appliances, and also use your vacuum cleaner to gently clear away any dust. Check the vents too, especially on refrigerators, dryers, and heating and cooling units.
23. Buy Used Whenever You Can:
You can often find your exact desired product with a bit of clever shopping at used equipment stores, game stores or consignment shops, and so on. Just include these shops as a part of your normal routine. You should go there first when looking for potential items and you will save a lot of money.
24. Delete Your Credit Card Numbers from Online Accounts:
It’s tempting to spend when you have your card information stored in an online account. You are just one click away from buying that stuff you don’t even need. The best way to come out of this habit is to simply delete your card from the account.
That way, when you get tempted to spend, you’ll be required to spend the time to dig out your card and fill that information before spending the money. Sometimes being forced to take that one extra step is all you need to convince yourself that you don’t need the item after all.
25. Try Holiday Shopping Right After Holidays:
This is a tried and tested technique for Christmas and it works for every holiday. Wait for about two days after a holiday and then go out shopping for the items you need.
26. Remove That Clutter to Save Some Cash:
Go into your room and go through every single item in it. Ask yourself if you really need that item. Are you happy with its presence, or would you be just fine if it were not there? If you find any stuff to get rid of, then do get rid of it. They just create clutter and they might have some value to others. You will also improve the perceived value of your house eventually.
27. Try Generic Brands for Items of Regular Use:
Instead of going for the ordinary brand of an item you regularly use, try out the generic version of that item. You will surely save a few cents there and you’ll also likely discover that the generic version is just as good as the name brand. More often than not, the only difference between the two is the marketing behind it, which you should not be paying for. Once you’re on board with the generic brands, you’ll find your regular grocery bill getting smaller with time.
28. Make Some Meals at Home:
Get an easily accessible and easy-to-use cookbook and make some of the dishes for yourself. You will eventually realize that cooking at home is much easier than you thought. It’s way cheaper and healthier than your regular take-out or dining out. You can do even better and you can easily prepare meals in advance and try even some handy fast-food type meals.
29. Term Life Insurance:
Insurance is not an investment. If you’re stuck in an expensive life policy, then you should choose a cheaper term insurance instead and use that difference in cost to get yourself out of debt. This can help you to start building some wealth.
Universal and whole-life policies are very expensive while they offer a subpar investment opportunity. Therefore, you’ll be much better off with a cheap and affordable term policy while having more money in your pocket.
30. Avoid Shopping at the Mall:
The mall might be a fun place to go to, but it is also packed with the temptation to buy unnecessary stuff. That’s why you should avoid shopping at the mall unless you actually need to purchase something.
Evidently, window shopping when you’re on a budget can really turn out to be a torture. Unburden yourself and find something else to do when you need some fun.