Whether you’re simply counting pennies and trying to reign in spending or saving up for a big investment, there are probably ways to save that you aren’t taking advantage.
No matter what your financial situation is, you can always start saving more.
This list will certainly include some tips and tricks don’t apply to everyone – and they might not all apply to you – but if you can find even one way to save here and there, you could end up being a much more financially liberated and empowered individual.
Take a look and this list and find a few new rules to follow. You might end up a much richer person for it.
Move bank accounts
This might seem like a major inconvenience, but what’s worse, having to move your money from one account to another, or losing money due to monthly fees? If you find that you are paying monthly fees on your account, it might be time to find greener pastures.
New accounts may not only offer more favorable interest rates, they also regularly offer sign-up bonuses to attract new customers.
One destination you might want to consider is an online bank. While it might seem quite scary t store your savings with an online bank, there are some clear pros of taking your checking or savings account online.
Negotiate rates with your credit card company
If you’re paying a lot of interest on your credit cards, it’s crucial that you try to figure out a way lower your interest rates. As long as you’ve been making your payments you should have the leverage necessary to reduce your current interest rate.
If you can’t get your current credit card companies to budge, it might be time to consider initiating a balance transfer to another credit card. By doing so, you could take advantage of many cards’ 0% APR promotional periods and save hundreds of dollar’s worth of interest.
Cut the chord on your cable
In 2019, you can watch almost anything you watch anytime without the need of a cable box. If you have good enough WiFi, you can easily get by in terms of entertainment with one or two streaming subscriptions.
If you’re a sports fanatic and simply can’t go without live broadcast, there are a lot of streaming sites online that may not be perfect, but they get the job done. It might not be quite as good as a cable stream, but it can save literal hundreds of dollars a month.
Sign up for free customer rewards programs
This is a great way to take advantage of deals and sales that you might otherwise miss if you’re not a member.
If this seems like an attractive option for you, but you’re worried about having your email inbox overloaded with ads and spam, just make a new address specially meant memberships. That way, you can log in and check the most recent deals whenever you’re in need, and you won’t have to deal with tons of spam emails on a daily basis.
Make a shopping list and stick to it
One of the easiest ways to save money on food is to go grocery shopping, but even when you go to your local grocery store, you might end up leaving feeling like you’ve wasted quite a bit of money on unneeded items.
To avoid this, write a real list of what you really need and stick to it! A good way to do this is to sit down with your family and make a meal plan. That will let you know what you need to buy and how to make economical food choices.
To save even more money, cross-reference your list with an up-to-date list of items that have been marked down from full price.
Bring candy to the movie theater
This might seem a bit cheap and a little immature, but honestly anyone who is willing to spend six dollars for a box of M&M’s is simply not doing it right! Just run to your grocery store, get some candy, and stuff them in your pocket before walking into the theater.
Want to save even more money? Don’t go to the movie theater at all. Stream a movie online on one of your already paid for streaming services.
Sell your stuff
Just because you don’t use something anymore doesn’t mean someone else isn’t willing to pay for it.
Have an old guitar you haven’t picked up in years? Try to sell it. Got an old bike lying around? Try to sell it. Sure, you might be saying goodbye to some things you’ve had for years, but it’ll be worth it when you see that extra cash in your checking account.
Beyond that, it can go a long way in de-cluttering your home and your life. Just like Marie Kondo says, “Tidy you space, transform your life.”
Ditch the cards, pick up the cash
It’s one thing to put yourself on a daily, weekly, or monthly budget, and it’s another to actually stick to it. If you have yourself on a budget, but find yourself constantly going over your self-imposed limit, it might be time to pull that plastic out of your wallet and replace it with cold hard cash.
Cash works in a multitude of ways. First, you have a constant physical reminder of how much you’ve spent and how much you have left to spend. Also, you won’t be adding to any credit card debt you may have accrued while going over your budget in the past.
Repair don’t replace
Have you ever had to mourn a pair of jeans due to a tear, or donate an oxford because of a missing button? If you have, you’ve probably spent quite a bit of money on replacing it.
Instead of doing that, just learn to sew and mend clothing. It’s an extremely useful tool and can help you save hundreds in the long run. If a pair of clothes needs a repair that you can’t do on your own, consider taking it to a seamstress. It will cost more than a DIY job, but it will still be much cheaper than getting rid of an article of clothing and replacing it with a brand new pair.
Buy in bulk
Do you ever find yourself going back and forth to the supermarket in need of hand soap, dish soap, detergent, and more?
If so, stop buying smaller portions of these kinds of necessities and instead start buying in bulk. Better yet, buy generic brands and save even more. While it may feel like you’re spending a lot of money in one trip, you will definitely be saving quite a bit of money in the long run.
Take a look at your cell phone bill
Are you spending a pretty penny on your monthly cell phone bill? If so, you might be throwing cash down the drain in the form of unnecessary features that you are paying for.
Go through your next bill and take stock of things you need and things you don’t need. Also take a look and see if you could potentially cut back on how much data you are using per month and if you can potentially cut back on that as well.
These are just a few tips and tricks to get yourself on the right track financially. There are so many more and it’s up to you to look at your life and see how else you can save big. Now get out there and start saving!