Saving Money Made Easy
In today’s world we can purchase virtually anything with the click of a button. And all of our favorite drinks and snacks are available at every street corner. In other words, instant gratification makes it harder than ever to save money. But it’s easier than you think. Keep reading to learn how you can start saving money today.
Eat at Home
Did you know that dining out is the number one expense for most families? If you plan out your meals for the week, one trip to the grocery store is all you need. Plus, eating at home gives you more time with family and healthier diet options. Not only will you save on the cost of food, but you won’t be spending money on parking, tax, and tip.
A Change in Entertainment
With services like Netflix and Hulu, there is really no reason to purchase cable TV. NPD Group estimates that cable bills will soon rise to nearly $123 per month. That’s $1,476 per year! If you cut cable and switch to an online service, that money will be saved and better spent on bills, traveling, etc.
Gym Membership
If you love working out, we recommend buying a gym membership. Instead of paying for classes or lessons, a gym membership gives you all you need for a low price. There are several chain gyms that offer memberships for just $20 per month!
Travel Expenses
Do you travel a lot? If you’re traveling for business or pleasure, take advantage of sites like Hotwire and Kayak. You can find cheap plane tickets as well as deals on hotels and car rentals. Lodging rental websites like Airbnb, Housetrip, and Travelmob help you find places with kitchens (so you won’t have to eat out) and even help you rent your house while you travel to make some extra money.
Java
Are you a coffee drinker? Instead of spending upwards of $5 a day on that Starbucks latte, why not make coffee at home? It might not be quite as good, but it will save you money and of course fill your house with that wonderful coffee smell. And when you do decide to treat yourself to a cup of coffee at a café, it will be that much sweeter.
Workaholic
The more you work, the less opportunities you have to blow your money. So find a career you love and pursue it! Spend your energy making money, not spending it. That being said, if you’re about to make an impulse purchase (especially online), wait 2 days before you buy just to make sure you really want it. This will also eliminate spending as an effect of emotions like boredom and loneliness.
Do it Yourself
Need to remodel your bathroom? Trying to find that perfect gift for your nephew? There are many situations in which you can do it yourself. Whether it’s painting a chair or installing a ceiling fan, YouTube has a tutorial for everything. Plus, you may just find a new hobby. You can also look on sites like Pinterest to find DIY beauty treatments that will save you hundreds compared to spa visits.
Quality over Quantity
Sometimes it’s okay to splurge. For example, if you need a new pair of running shoes or a new phone, buying the cheapest model isn’t always the best. That product might break, causing you to overtime spend more money in replacing cheap products. When it makes sense, purchase a high quality product that will last.
Money Date
Finally, it’s important that you spend time with your money. We recommend setting some time aside each week to review your goals, bank account, credit card statement, etc. If you want your financial situation to improve, you must spend time with your money.
Read a book on personal finance and make sure to keep track of your progress. And remember, you’re not alone! Nearly everyone is trying to save money. Speak with friends and family about their strategies and goals. If you have questions about savings plans or retirement, speak with your bank or a financial advisor.
