As a family on a budget, it is hard to find various ways to save money. Saving money is always stressful for us. Do you also feel the same sometimes? If, yes, then I am here to help you out. Trust me you will be 100% hooked on to these approaches once to start following them strictly.
DISCIPLINE is THE KEY. These ideas are straight from my mom and my late father. Both have all the good and challenging ways to save money. Learning them would help you in many ways such as:
- Paying your loans faster
- Traveling to your dream destination
- Saving for retirement
- Having your medical and emergency funds in position and many more
- Stop living on credit cards
Today, I am going to tell you 24 easy techniques to save money. If you do them consistently, I am sure you will save hundreds of dollars each year. A little thought that you should regularly follow:
“Save a penny at a time…it will mount to something big in due time.”
Take a 10$ everyday savings challenge. If you do save 10$ daily, then you will have savings of 3650$ at the end of the year. Isn’t it saving money a stress-free way? Download this challenge for FREE here. Now let us check out the ideas,
1.Quit Smoking and Drinking:
Smoking and drinking are such expensive and deadly habits. Choose a clear path and add healthy years to your life. It is not worth wasting your money and damaging your body. Think and ACT wisely for you and your family!
If you need more help, please visit this website and start leading a healthy life.
2.Have an Emergency Fund:
I cannot emphasize enough to have an emergency fund that will help you survive for at least six months. Setting up this fund is one of the easiest ways to save money and secure your future at the same time. According to this report, 40% of adults cant cover 400$ of an emergency expense which is very alarming and sad. A crises fund surely helps you to survive tough situations in your life. From my personal experience, it did help to reduce the medical expenses when my father was suffering from hepatitis C.
3.Take an affordable cellphone plan:
I see many people overpay for their cellphone plans. Don’t do that; there are so many plans available out there. Just research and negotiate. If you want to pay for what you use checkout Ting. They have monthly cellphone plan for as low as $6. No cancellation fees. No contracts. Which phone plans do you use?
4.Choose your internet plans intelligently – This can save a lot of money
The internet usage plans and usage rates are sometimes are unnecessarily high. For real, if you are buying an Xfinity internet connection plan, the BLAST! Plan total charges are 80.00$. But if you take one or two year contract and select auto-pay and paperless billing option your total charges are reduced to 50.00$. Isn’t that great?
Tip: To reduce your charges even further, you can contact them again and compare your favorite plan with other provider companies to get a better discount. It works!
5.Always create a shopping list before you go to a grocery store – Avoid unnecessary shopping
Grocery listing is one of the easiest ways to save money. Google Keep is one of my fav apps for this. Creating a list is essential because if you visit a store without a list, you will buy stuff that you do not need and waste money. Creating a list helps you in several ways such as it helps to curate meal plans, gets you cash backs on your cards (pay your balances regularly), avoid food wastage.
6. Make a Monthly Budget
The monthly budget plan always helps you calculate your total expenses. It is crucial if you are living from pay-check to pay-check. A budget helps you to pay off your debt, make and save more money, save for your medical and retirement, etc. I have created a Monthly Budget Planner for you all.! Go ahead and download it for free over here.
7.Don’t buy clothes just to fill your closet
Clothes are a basic human necessity. But overdoing the necessity can always cost you a lot more. Be careful while spending on clothes. Avoid going to malls, window shopping can hurt you horribly and you may buy apparels that you don’t use or don’t even wear. Donate clothes that you do not need. Sell them if possible to have some extra money.
8.Eat less in restaurants or reduce the number take outs
Cooking food at home not only saves you money but also is a healthy option. By doing this, you will keep the right amount of money. If you don’t have any experience in cooking food get this instant Pot Pressure Cooker Cookbook: 500 Everyday Recipes for Beginners and Advanced Users. It’s fantastic and has healthy 500 recipes.
9.Get a reasonably priced car
The car is a depreciating asset unless you have some luxurious or vintage ones. An average person in the U.S spends $180 more on a new car as compared to a used car. Many people pay as high as 15% of interest rates to pay their car loan. Research well before you buy a vehicle and also consider other expenses like insurance, gas, registrations costs, taxes, maintenance and many more. I think your car expenses should be less than 7% of your monthly income. It is even more essential when you are living pay-check to pay-check.
10.GYM memberships are a big NO NO.!
GYM memberships are costly if you DO NOT use them. From my personal experience, I had enrolled in LA fitness with a monthly subscription of 25$. I did not go to the gym for almost 2 to 3 months and later forgot that I even had subscribed for it. More afterward when I received a call from them, I realized that I had unnecessarily wasted 75$. Eventually, I ultimately got rid of that membership. Many people do not get the total worth of their GYM membership if you are one of them decide wisely and take a decision.
11.Cash-backs are always a WIN!
Sign up for Swagbucks and Ebates. These websites help you earn cash back. When you buy items from stores like Walmart, Target, Macy’s, Amazon, Kohls, and more you get as high as 40% from Ebates. Swagbucks works on a reward system. Just like Google, bing when you surf/search online you get reward points. Once you have enough points you can redeem them as Amazon gift cards, cash and much more. Wow! Even credit card purchases help you earn cash back.
12.Turn the lights off
Whenever you leave the house or room, try to turn off the lights. Yes, it should be a mindful decision. Why? Because it can cost you money. Let natural sunlight help reduce your electric bill. It’s simple, turn off lights when not in use. Plus turning off lights helps the environment by decreasing power plant emissions. And you surely contribute to that in a small way.
13.Discuss terms while buying a home and car insurance
An average person spends a lot of money on Home and car insurance. I know some of my friends pay at least $400 for full coverage for car insurance. Most of the time this happens due to lack of knowledge about how insurance works in general. Try to get all the essential information about protection, talk to your agents and ask for a discount, try to combine your home and car insurance, check for deals in the nearby area and compare it with your current plans, decide what coverages do you need, check the deductible amounts as well, etc
14.Find a roommate to save money on your overall expenses
Sharing rooms with roommates will help you a lot in reducing your monthly expenses. If you have extra rooms in your home, rent them out. This small income will help you a lot in the long run. You can also try out Airbnb if you want to do it on seasons basis. I know people who get hundreds of dollars for renting their rooms out in the summer season.
15.Buying refurbished goods
As it is always said, there is still an option. Well, why not use the same analogy while buying items for your home. There are so many websites that offer verified refurbished stuff. If you are smart, you can find them without paying a full price and in excellent condition. Discounted items are not wrong!
16. Quit using multiple credit cards
If you are using an exhausting your credit cards quite frequently and are not able to pay them, then it’s better if you keep them offsite. You can always carry them for emergencies, but if you are tempted to use them hide them in a safe place. It works!
17.Do monthly maintenance on your appliances
Check all of your home appliances such as Air Conditioners/Heaters, Refrigerators, Dryers, Washers, etc. Make sure that they are fairly clean and tidy (internally and/or externally). The appliances will be more efficient (less replacement cost and more energy saver) if they are less dusty.
18.Buy a programmable thermostat
If you want to cut your energy bills another way is to install a programmable thermostat. By setting up correct heat and cooling times for your home or office, you can make sure that your utilities are not wasted. By doing this, you can save a lot of money.
19. Cleanliness every day keeps medical bills away
Hygiene is essential. Several measures can help you keep medicals away. Bath daily, Keep your hands cleans before cooking and eating food. Dust off your house regularly. Clean the floors bi-weekly. Don’t bring your outdoor shoes inside your home.
20.Do more exercise
Take at least one hour of your day to exercise. Take a walk or go for a jog — practice yoga and meditation. There are so many fitness tutorials available on youtube to help your needs. These exercises can be done at your home that can give you huge health benefits and in return, it will keep your wallet and body safe and sound.
21.Do shopping for summer clothes in winter and winter clothes in summer
This is such a great trick to save money. During the summer season, the clothes are made available at a high price. Whereas if you buy the same clothes in winter, they are discounted at a high rate. Isn’t it great and money saving?
Gamble does not always give you money back. It still consumes cash out of your pocket and if you are addicted to these things then definitely you will go bankrupt. Be Wise, be careful and always do the right thing!
23.Begin your own in house veggie and fruit garden
In today’s age, a lot of farming is done with lots of chemicals and pesticides. These chemicals seriously affect your body and cost you a lot for medical bills. So, last year my family decided to begin an ingrown veggie and fruit garden with all organic compost. By doing this, we save around 150$ just on groceries. Let me know if you want to know more on this, will create a separate in-depth blog post.
24.Drink more water
Drinking plenty of water has great health benefits and financial benefits. Drink a big glass of water before each meal to stay fuller longer and ultimately eat less. This will help save you on your food bill, and also make you feel better after you become adequately hydrated. Tap water is not only just as clean as bottled water, but it’s also free.
How do you save money for yourself and your family? Share your thoughts in comments section below.!
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