No matter how much money you make, saving money is never a bad thing. Whether you’re trying to get out of debt, meet financial goals, or free up little more month at the end of the money, there are plenty of ways to tighten your belt. Here are 10 that you might not have thought of.
1. Let it Add Up
Remember the movie “Up”? Mr. Fredricksen and his wife put their spare change in a big jar for years, to help them save the money for their trip to Paradise Falls. You’re probably not planning a trip there yourself, but it made you take notice of how those little bits of money can add up. It’s the same with you! Whether it’s going to a movie, pizza night, or raising funds for your next adventure, don’t neglect those small amounts. Stash it away, put it in a jar, or move it to a savings account.
2. Cut the Cord
This one seems obvious, and maybe you feel you can’t go without cable. But how much are you paying every month, and how many of those channels do you actually watch? Look at the growing number of TV services that are internet-based. You may be able to get rid of cable without giving up your favorite channels. And hey, there’s always Netflix.
3. Let Impulses Pass
Oh, those shoes are so cute. And that purse! And those jeans! And hey, they’re on sale! Okay…put the brakes on. When you see something you want, even if it’s on sale, consider impulse buys as just that: impulses. Give yourself 48 hours, then if you still really want it, maybe you can go ahead. But usually, those impulsive feelings will pass within a couple of days, and you’ll save yourself some dough.
4. Cool it On the Hot Water
Did you know you can turn the temperature down on your hot water? You can, and it’ll save more energy than you think. Turn it down to 112 degrees, and you probably won’t notice a difference until you get your bill. If you’re up for an investment, a tankless water heater can save you 30% in energy costs.
5. Never Pay Full Price
In this day and age, our access to money savings is better than ever before. When you shop for things you need, use websites like Ebates, FatWallet, and RetailMeNot to get rebates and discounts. But remember, getting a good deal is not an excuse to buy things you don’t really need.
6. The 52-Week Plan
The 52-week challenge a great way to save. In week 1, save $1. In week 2, save $2. Keep going, so that by in 52, you’re putting away $52. By the end of the year, you’ll have saved $1,378!
7. Speak Up
Depending on the circumstances, you might get a discount on something just by asking. Left your coupon at home? Speak up! Think the doctor’s office could afford to reduce your bill? Speak up! Many stores offer price matching or even price-beating policies. The worst they can say is no.
8. Use Cash
Financial guru and radio host Dave Ramsey has a great system for using cash for regular expenses like groceries and household supplies. If you always wonder where your money went, using a system like this will leave you with a clear understanding on what happened to it.
9. Examine Your Habits
Do you have a habit that costs you money? Add up what you’re spending, and you’ll probably be surprised. Cigarettes, coffee shops, or that daily soda are adding up. Take a hard look at what your habits or little luxuries might be costing you.
10. Plan Your Meals
If you’ve ever tried to change your eating habits, you know important planning is. It’s the same thing when trying to save money. Plan your menus for the week and buy only what’s on your list. This will save you money at the store, but also keep you from impulse food buys when it’s 5pm you haven’t planned dinner. There are plenty of menu planning helps out there, too!
Leave a Reply