Have you ever wondered why before the end of each month your income has vanished into thin air? No, nobody is stealing your money nor are you losing money mysteriously. You’re just not paying attention to your spending habit, and the result can make you go broke very fast!
The good news is that you aren’t the only going through this precarious situation and even the richest people in the world can be infected with spendthrift syndrome. However, what you need is some tweaks and tricks to get hold of your finances, and save yourself into your dream. Sound simple and easy? Yes it is, just follow these 20 tested and trusted ways to save money everyday and by the end of the month, you will be surprised at how much you can actually retain instead of waste away unnecessarily.
How to Start Saving Money: 20 Easy Ways to Save Money Everyday!
1. Prepare a Budget
You must have heard this more than a thousand times. Making a budget is one of the first steps to take if you want to start saving money. This is true because budgeting your wants and needs will make you aware of where your money is going, and where to cut the excesses in order to save money. So when next you receive your income, ensure to prepare a budget before you start spending on all your needs.
2. Exploit Free Basics to Surf Internet
Data subscription can be consuming a large chunk of your money, most especially, if you’re a frequent user of most popular social media platforms. However, some platforms like Facebook, Operamini, and even some network providers offer free basics to surf internet. If you exploit these options often, you can save some cash everyday.
3. DIY – Do It Yourself
This is a common phrase too, but it is not just popular, it can save you some money as well. For example, some chores like polishing your shoe yourself, or doing the laundry yourself, instead of taking it out and spend money to get it done can improve your finances.
4. Ask for Discounts
Honestly, you won’t die, and forget about people thinking you are poor when you ask for discounts. Asking for discounts here and there will surely save you some money. Imagine average of five transactions daily, where 50 cents is saved on each transaction, that’s $2.5 per day multiply by 30, that $75 a month, multiply that by 12 months? Well, that’s about $1,000 savings Think about that.
5. Look Out for Freebies.
There are always service providers or products sellers that offer free customer rewards program. Look out for them, and take advantage. With that, a certain amount of your cash will be saved daily.
6. Carry Out Repairs First Before Tossing
We sometimes have torn clothes or shoes that need gum, instead of disposing it away, one can use needle and thread to sew it together or in the case of shoes, just add gum, instead of disposing it right away to buy new ones.
7. Cook in Your House
Often times, we can be too tired to cook, or enjoy certain fast foods that tend to make us have a habit of spending money buying already cooked food. As someone who is ready to save money, you need to cut down on how often you buy food from outside. You can prepare your food in the house, and with a refrigerator, you can preserve your food to eat at a later time. On the plus side, home food is often richer in nutrients than fast food.
8. Enjoy “Staycation”
Instead of travelling around to enjoy your weekend, leave or vacation, you can as well treat yourself to the fullest in your backyard. Call in your friends and family to join you, it can be more fun than traveling around spending money. It helps you to avoid stress too.
9. Quit or Limit Your Smoking and Drinking Habit
After reading these Easy Ways to Save Money Everyday, you should write down how much you spend on cigarettes and alcohols. You’re sure to see how much leaves your pocket on a daily basis.
10. Buy in Bulk
Yes, buying in bulk ensures you’re not penny wise and pound foolish. When you buy in large quantities, there is always a recognizable discount you can save. Most specifically, for products you use daily or foods in the house.
11. Avoid Underutilized subscription
Many a times we subscribe to Cable TV at premium rates without even having time to watch it. This can drain your pockets without you noticing. One should always try and avoid situations like this. It is advisable that you subscribe to only the things you need.
12. Go for Used or Refurbished Products
There are times we just need thing for temporary usage, say for a few weeks or months. Knowing that brand new items are always quiet expensive, you can cut down your spending by purchasing already used products which are usually more cheaper when compared to new items, and may offer the same value. Are you still thinking of how to start saving money? This is a good point for you to start.
13. Reduce Unnecessary Energy Consumption
Always ensure you use energy saving appliances and switch them off when not in use. LED TV, energy saving bulbs, and other low-energy consuming appliances can be trusted when plying this route.
14. Monitor Your Cell Phone Bills
Making phone calls is now part of our everyday life. However, monitoring how often we make calls can help in saving money each day, especially when the calls are not related to our work or businesses. If you must save money, it is important to limit or avoid unnecessary calls.
15. Cancel Automatic Subscriptions
There may be times we only need to make one time purchases, but the product seller offers automatic subscriptions because of discount just like Cable Network. One should try to either avoid or easily cancel the subscription after the first purchase. This will go a long way in saving money.
16. Do Swapping
Sometimes after enjoying a book, games or movies, we tend not to care for them anymore. Instead of letting it waste away and then buy the next available series, it pays when we exchange with friends or neighbors, and even online. This saves cost as you’re spending little to no dime in this scenario.
17. Gather At Least Three Quotations before Buying
Comparing prices before paying for a particular product or service can help you save money, because often times, prices of the same products are not always the same at different stores.
18. Buy Generic Products
We all love to buy distinct or branded products which are most times expensive. However, those products don’t have additional value over the generic ones. Therefore, it is better to buy cheaper in as much they offer the same value.
19. Avoid Impromptu Spending
Some people are fond of buying everything they come across even when they haven’t planned for it. It pays to always try to avoid spending your money in such manner. If you go on this way, at the end of the day, you will realize out how much you can save after avoiding unnecessary buying.
20. Use Pay As You Go
Using pay as you go for services such as Gym membership or Football ticket can help you to save a lot of money instead of going for monthly subscription or season tickets holder. This doesn’t need further details.
The Bottom Line
We’re guessing you have reached this stage because you were interested in knowing how to start saving money. Now that you have read all the tips we penned down above, it is time for you to go on and implement them and start to improve your finances. Always remember that to be financially free, you must abide by certain rules which may seem to difficult to keep to at first. However, once you condition yourself to the above guidelines and make it a habit to cut down your expenses and save money, everything becomes so easier for you.