The desire to save money is a universal one. The fantasy of being able to exercise control and set aside earned money at regular intervals (rather than spending it) and coming back in the future to heap the rewards is a common one. However, only some of us are able to effectively save our hard-earned income. This is largely due to the lack of strategizing. By using the following strategies and tips, you can work your way to saving more money.
- Take advantage of what’s free
This can apply to a variety of commodities. The library, for one, is an abundant resource. Rather than purchasing books, audio books, or movies, see what your local library has on hand. You’ll be surprised what you can find.
If you’re in need of some cardio, step outside and run in the fresh air rather than buying the nearest gym membership. Utilize stairs in your house in place of a stairmaster. Lift heavy household objects instead of buying weights that you’ll only eventually outperform.
When you can, commute by bicycle or simply walk. Both have the dual-purpose of adding some cardio into your life without the steep gas prices.
Hang clothes to dry
Why waste energy using your dryer when you can hang your clothes to dry? If weather permits, hang your clothes outside for faster drying time.
- Put a stop to the monthly charges
This means all of them – cable, TV/movie streaming websites, magazines, newspapers, etc. The monthly cost may not seem like much at first, but it adds up quickly. If you feel up to it, cancelling your cell phone will also save you loads in the long run.
- DIY (Do It Yourself)
Quick fixes around the house
DIYs don’t just have to be for crafty people on Pinterest. You can utilize it as a way to save money and use things you may already have laying around. You can find tutorials online for nearly everything nowadays. If you need something fixed, see if you find an easy fix tutorial. If you need a professional, then by all means, hire one. But by checking if you can do it yourself first, you are potentially saving yourself a hefty labor fee.
Need a haircut? Maybe just a trim? With the help of online tutorials, these are things you can easily accomplish at home at no cost.
- Watch what you eat
I don’t mean this in a dieting sense, simply as a note to be conscientious of how much and where money is being spent on food. Try to reduce the amount of frozen foods and fast foods you consume. Both have the appearance of being easy, cheap, and convenient on the surface. However, if you eat these on a regular basis, they end up costing more for their so-called convenience. Prepare your own meals, use coupons/deals at the grocery store, and, if you are so inclined, start eating less meat. Additionally, eat less sweets. They have no nutritional value and are essentially empty calories anyway. Furthermore, drink more water and less alcohol and sugary drinks.
- Use tricks to curb spending
If you find it difficult to control spending, use tricks to potentially curb or stop spending altogether. Make a list of items you think you need and make yourself wait a certain amount of time before buying them. This will help you weed out what you only wanted for the instant gratification.
- Adopt a minimalist lifestyle
This will help you in all areas of your spending in your home, from your wardrobe, to other trinkets and knick knacks. A minimalist lifestyle doesn’t just teach you to own less, but it allows you to appreciate the value of the things you do own.
Saving money doesn’t mean you’re a cheapskate; it simply means you value your earned money and would prefer to exercise some control over its use. Regardless of your income, you can create the illusion of making more money simply by saving what you’re already earning.