Simple Ways to Save Money
Everybody knows that money is tight. More than 60% of Americans live paycheck to paycheck, and many people are struggling to make their minimum monthly payments on their debt with little wiggle room left for unexpected expenses. If you’re trying to save money wherever you can, it may seem difficult and like there isn’t much you can do right now.
But the truth is that there are plenty of little things you can change in your everyday life to save money on a smaller scale. You just have to look for them. Saving money on a grand scale may seem daunting, but by making small changes in your day-to-day life, you can put more green in your wallet sooner rather than later.
Here are some simple ways to save money in your everyday lifestyle:
Cancel subscriptions you don’t use regularly
This is probably the most obvious one, but it’s also the most important. Many people have tons of recurring subscriptions, commitments, and memberships that they don’t use or don’t need.
You can almost always cancel these memberships online or over the phone, and you’ll often be able to do it without being charged an early termination fee. If you have a subscription you don’t use, cancel it. It’s that simple. You’ll save a lot of money and have more freedom because you’ll be able to use that money for other things.
You have the alternative of canceling your sports channel subscription. If you enjoy watching cricket matches, England Vs West Indies is available to watch online. You may even place bets on the game and win money.
Go to the grocery store during the week
It’s an oldie but a goodie. Many people like to go grocery shopping on the weekend, but doing it on a weekday is a much better choice for your wallet. During the week, you can usually find fewer people at the store and less competition for the less desirable items, like the sale items and clearance items.
If you have a membership at a wholesale club, you can really save a lot by shopping during the week. Also, don’t forget to look at the end caps (the area at the front of the store where the clearance items are often placed). The end caps are often overlooked, but they can be a great place to find good deals.
If you shop during the week, you may also be able to get some great deals on produce. Produce that isn’t sold by the end of the week is often marked down to make room for the products that will arrive the following week.
Turn off the lights and adjust your thermostat
We’ve all heard this one before, but it’s true. Turning off the lights when you aren’t using them and adjusting your thermostat a few degrees during the summer and winter months can have a huge impact on your electricity and heating bills.
Adjusting your thermostat by just one degree in the summer and one degree in the winter can save you an average of $100 per year! And if you turn the lights off when you leave the room and adjust your thermostat, you’ll save even more. These small changes will add up significantly when you consider them over the course of a year.
Receive cash only for birthday and holiday gifts
Using the money you receive for gifts for everyday expenses is a great way to utilize it and put it to use. Instead of putting the money in a savings account or investing it, you can use it to pay off debt, buy groceries, or put it towards your next car repair.
You can also give the money to charity or put it into a separate savings account for a specific purchase, like a vacation or car repair. It’s important to remember that accepting cash as a gift doesn’t absolve you of the responsibility to gift something to the person who gave you the cash. Make sure to find a gift that’s meaningful to the person and that they would want or need.
Re-evaluate your cell phone plan
Your cell phone plan can be a big money suck if you don’t know how to use it correctly. Understanding the different types of plans and how they work will help you to get the best bang for your buck.
There are many types of cell phone plans and understanding how each type works will help you to decide which one is best for you and your needs. If you have a family plan, you might be able to save money by switching to an unlimited plan.
If you only occasionally use your phone for calls, you may be able to save money by getting a pay-as-you-go plan. If you have a frequent need to make international calls, prepaid plans may be a good option for you. They are often cheaper than the other types of plans.
Don’t eat out or buy food from a convenience store
Eating out, especially if you have a family, is expensive and is one of the biggest ways people blow their money. The average family spends about $3,000 per year eating out. To save money, try to make a plan for eating out and stick to it.
If you have kids, it may be a good idea to plan out what restaurants you’re going to each week and make reservations. This will help to keep you from being impulsive, and hopefully, it will make it less likely that you’ll decide to eat out because you don’t have time to prepare a meal.
If you want to save even more money, avoid buying food at gas stations, convenience stores, and coffee shops. These places are notorious for their high prices and low-quality food. If you want to save money, buy food at the grocery store and bring it with you wherever you go.
Negotiate with your credit card company and bank
If you have high-interest credit cards, it may be a good idea to negotiate with your credit card companies about lowering your interest rates. You may be able to get a lower interest rate simply by calling and asking.
Same goes for your bank. If you’re in the middle of a payment crunch, talk to your bank and see if they can make payment arrangements with you.
Everyone knows that money doesn’t grow on trees. But what are you to do when you need to stretch your dollar and tighten your purse strings? Luckily, there are plenty of simple ways to save money in your everyday lifestyle.
You can achieve this without sacrificing all the things that make life worth living. Use these simple strategies for saving money every day – no matter how little cash you have at your disposal right now.