Ugh, just the thought of saving money brings on a frown. It’s such a herculean task! But it doesn’t have to be like that since you can save money without giving too much effort. Believe me, it’s possible to save extra money in your bank account without bringing massive changes in your lifestyle. Here are the 25 tips that can help me prove my point.
1. Draft a budget
Budgeting is the easiest way to save money. It helps to spend your money judiciously. Use budgeting applications like EveryDollar, Goodbudget or Mint to track your budget every minute.
2. Make a shopping list
A shopping list stops you from spending extra dollars on useless things. So, don’t forget to carry your shopping list before stepping out of your home.
3. Automate
Save 10 percent of your income before spending money. If you aren’t good at saving money, then opt for an automated savings plan. Ask your employer to dump a part of your paycheck into the savings account every month. It’ll help to secure your financial future.
Related: The Automatic Budget
4. Build an emergency fund
Have you ever thought what will you do if you suddenly lose your job? How will you support yourself and your family in those days? Do you have any idea? Well, if you have saved money for the rainy days, then you can still hope to survive. But if you haven’t, then you’re in big trouble. So, build an emergency fund gradually. This would help you survive a financial disaster.
5. Don’t shop when you’re hungry
Are you terribly hungry? If so, then have a hearty meal at your home before going for shopping. When you’re hungry, your first destination after leaving home would be a restaurant. You would spend a stash of dollars on high-priced foods. This is a complete waste of money.
Related: How to Eat Healthy and Still Spend Less Than $400/Month on Groceries
6. Use recycled goods as much as possible
Recycled goods can help you save both money and the environment. Use reusable containers for lunch and the backside of a paper for writing. Recycle your grocery bags and try to use reusable items as much as you can.
7. Use coupons for shopping
Try to use coupons whenever you go for shopping. You’ll be surprised to see how much they can help you save at the end of your shopping trip. Use coupon codes for internet shopping. Mamma is one website that offers great codes. For example, if you want Bealls coupon codes, go to Mamma. If you want other coupon codes, simply search “[business] coupon codes.”
8. Be organized
“Organize” – this is the spell to resolve all your problems in life. Keep your financial papers clutter-free. File your income tax returns on time to avoid penalties. Keep your credit card statements in a folder. You can compare how much you’re spending every month. If your credit card expenses are increasing every month, then try to shop less in the next few months.
9. Shop for insurance rates
How much do you pay for your auto insurance premiums? Are you paying more than your friends? If so, then it’s time to call quits. Different insurance providers offer different insurance rates. Look for an insurer who is ready to offer cheaper insurance quote. This will help you save money as well.
Related: Why You Should Read Your Insurance Policies Carefully
10. Cut cost on entertainment
Are you a movie buff? And, do you hit the theaters very often? Yes? Then, instead of going to a movie theater frequently, download your favorite movie from the Internet and watch it at home. Rather than going to restaurants with your family on weekends, arrange a cricket match at the backyard of your home. This’ll help you to cut cost on entertainment and maintain your lifestyle as well.
11. Sell unused stuff
Does your bedroom look like a store room? Is there too many unused stuff in your bedroom? If yes, then sell those goods as soon as possible. If you aren’t using your old smartphone anymore, then sell it off and make extra money.
12. Pay bills on time
Pay bills on time to avoid late fees and penalties. This would also help you protect your credit score. If your credit score is less, then you would have to pay more on loans and credit cards. Lenders would ask you to pay higher interest rates than others.
13. Buy things in bulk
You can buy the items in bulk that you regularly need such as toilet paper, laundry soap, detergent, and so on to save money.
14. Avoid gyms
Are you a fitness freak? If yes, then you don’t have to hit gyms to stay in shape. Watch videos on YouTube to know about the exercises you can easily do at your home. This would also help you to burn calories and stay fit.
15. Take special care of your things
Take extra care of your things so that they last longer. If you handle your things casually, then they can break or get damaged easily. You would have to spend extra dollars for buying the same thing again.
Related: Spending More: The Critical Counter Intuitive to Spending Less
16. Chat in Skype and WhatsApp
Do you love to chat with your friends 24*7? If yes, then download WhatsApp and Skype in your smartphone and chat with everyone. Talk with your overseas friends without paying any extra penny. This would help you rack up a big phone bill.
17. Visit the library or read online
Are you a bookworm? If yes, then instead of buying books, visit a library this time. You can also explore the web to download your favorite e-book. This’ll definitely save your precious dollars.
18. Save on your utility bills
Are you fed up of paying a lot for your utility bills? If yes, then change your old power consuming light bulbs with CFL ones. Do you know that you can save as much as $75 per year if you use other energy-efficient bulbs?
Related: 15 Effective Home Improvement Ideas to Make it Energy Efficient [Infographic]
19. Take care of your body
Health is wealth. Fall in love with your body and take care of it regularly. Get in shape and exercise regularly to stay fit. This would help you get a cheaper life insurance quote. Quit smoking to save on health insurance.
20. Go for potluck party
Do you often host parties at your home? Do you cook all the dishes? If yes, then go for a potluck party next time. Ask your guests to bring in their best delicacies. This’ll help to cut the cost of food without breaking your bank. Also, you don’t have to take all the responsibilities on your shoulder.
21. Find out the cheapest grocery store
Find out a grocery store that sells stuff at reasonable prices. Buy things such as fruits, vegetables, eggs, cereals, milk, and so on from there.
22. Make frugal friends
Environment and association can make a big impact on your wallet. Spend more time with frugal friends since they know all the tricks to enjoy without spending extra dollars. They’ll take you to places where all of you can have fun without breaking your budget.
23. Avoid eating out frequently
There is no doubt that you’ll get amazing food at restaurants. But, they’re expensive too. They can burn a big hole in your pocket.
Are you craving for some yummy food right now? If so, then explore the web world and check out the recipes of various delicacies. Cook them at half price and enjoy your yummy creations with your family.
24. Control your temptation
If you have a habit of buying everything you like, then it’s time to control your temptations. Do you visit malls frequently and end up buying lots of stuff? If so, then leave your cards at home. You can just go for window shopping to control your expenses.
25. Maintain a notebook
Do you often forget to keep track of your finances? If so, then you should keep a notebook to check your income and expenses. Take steps to reduce your discretionary expenses every month.
If you follow the above tips religiously, then you can surely save money without sacrificing your lifestyle.
For more on saving money, check out our free online guide: The Complete Guide to Saving Money.
Author the Author:
Good Nelly is a financial writer. She also writes for DebtConsolidationCare. You can see her writings in her blog mywayofviewing.com. Besides writing, she loves to travel and read.