Have you realized how much money you have spent on things that don’t matter to you in the long run? Saving money is one financial problem a lot of people experience. Not because they are not smart with their money or are spending a lot their money on useless thing. No, it’s because some people don’t know some of the ways of saving money without putting themselves in a hard situation. And that’s why I came up with this list of 22+ smart and simple ways to save money, without complicating your life.
Some of the money saving hacks on this list may not necessarily reflect on your current situation because I’ve tried to generalize all the money saving tips for all kinds of people. Young, Old, Men, Women, Students all in general. Read the entire article to find your best tips to implement in your life and start saving big in no time.
1. Shop Online With Cash Back Apps
If you have to shop online. Use apps that will give you cash backs on the items you are buying online. This will help you improve your money spending habits because you will spend less money on items you will be buying online
You can use the money that you have received as cash back on savings, you will save way more money this way.
2: Have A Meal Plan
You Have probably heard of this one before. But this is one of the biggest reasons some people find saving hard.
Having a meal plan, you can be able to know how much you have spent on meals and how you can improve your meals next time with less the amount of money you spent the last time. This way you will know how much you can save and still have a nice diet for your body. Remember your health comes first.
3: Have A Budget
A budget is your best friend when you are thinking of saving money. A budget will allow you to see your income and all the expenses. To be honest, If you’re not creating a budget you’re missing out on the opportunity to see your big financial picture.
Create your budget today and track your money activities. You will start to see the things you’re wasting money on and this can help you save money right away, instead of spending it on unimportant stuff.
4: Eat At Home
There is no doubt that the amount of money you spend on food outside is high. You don’t necessarily have to eat at home because in some situation that would be impossible.
But assuming you buy food for your lunch five times a week at school or in your work place. Now let’s assume you decided to change that and now instead of buying food five times during the week, you decide to cook food at home and carry it to your work place or school three days of the week meaning, you only buy food two times as compared to how you use to buy five times a week.
You get it? Now the amount of money you will be saving after a month or two of implementing this strategies will be incredibly good to your saving habits
5: Stop Buying Books And Magazines
If you really enjoy reading books and magazines from your favorite brand, you can always visit their website and read all the articles you want online, instead of spending money every week on new books or magazine release.
Nowadays there are a lot of free apps that offer free books and stories you can read without being charged, or if you prefer reading the traditional way then you can pay your local library a visit and read free books or borrow a few to red at home.
6: Cancel Your Subscriptions
Whether you have a subscription of a newspaper, magazine or TV, in real life you don’t need all of them all together. Consider unsubscribing to some of the ones that you don’t use frequently and the once that you don’t need anymore.
Furthermore, why have an expensive monthly subscription on entertainment when YouTube is completely free to use. If you think about it, you don’t actually need the paid entertainment that much. Maybe you can subscribe to Netflix during the holiday seasons instead of spending money the entire year and you spend less time on TV
7: Watch Your Electricity Bill
Did you know that the light you left on in your bedroom is still pushing the Electricity bill up and up every minute?. You might think it’s only a light bulb. But that thing uses electricity so it adds up to the bill
Avoid living the lights on when you leave a room in your house. Always ensure they are turned off. This will affect you big time if you have a big house. Turn off the fridge if there’s nothing in there yet, consider using power saving electricals.
8: Watch Your Water Bill Too
Water bills can really mess you up if you don’t take good care of your water a home. Always check if there is a leak in your water sink, toilet, tank or the water supply pipes. You might be paying more for water you don’t actually use. If you notice a slight increase in your water bill the next month compared to the previous one, check out your water system.
9: Make Mortgage Payments Early
By now, you probably know if you have a mortgage and you choose to delay your payments. Your only getting yourself in trouble ahead. Paying your mortgage on time will save you thousands of money. The sooner you pay down your mortgage the less interest you will pay.
10. Avoid Expensive Coffee
Make your own coffee at home. Buying it is expensive for crying out loud. You will throw your money to Starbucks and make the company richer while you yourself, you haven’t put your s* together.
11: Pay Your Credit Cards in Full
If you are a credit user, you should pay it in full. You should always avoid the interest you will pay later if you don’t. You will be saving a ton of money if you pay your credit in full to avoid the interest.
12: Groom Your Hair Less Often
I know, I know. But look, this doesn’t mean that you should keep your hair dirty. Absolutely not what I meant. Try paying less to get a hair cut or a salon worker trimming your hair, by doing some of it yourself and skip a week of paying for the service. There are a lot of DIY on YouTube, go check them out. But if you really have to go get the service done for you in a salon, go to a cheap one.
13: Don’t Pay For Facials
Remember the goal here, is to spend less and save more. You can do your on facials when you are free. Just steam your face over a bowl of hot water then put on a nice facial mask. Save Money Instantly
Also Read: 20 Small Business Ideas For Women In 2020
14: Be Smart With Your Phone
Airtime. Your cellphone is slowly draining money from your pocket without you even noticing it, despite the fact that you use it almost every second (for some people that is). Consider taking offers from your network provider and save whatever you were to spend if the offer wasn’t available. Little by little, no hurry.
15: Don’t Buy Brand Clothes
You don’t have to fill your closet with clothes from popular brands to dress well. Again just like Starbucks, you are only making the company richer. Think about yourself for a second. Buy regular clothes more than the branded ones. And if you have clothes in your closet that don’t fit you anymore or maybe you don’t use them, SELL.
16: Buy Locally Manufactured Goods
Without even getting technical on this, we all know that products and goods that are made in the country that you currently live in will be way cheaper than exported products, so try as much as possible supporting our own by buying local
17: Make Easy Money Freelancing
As saving is our main goal here, then we should also try figuring out how to make easy without interfering with the normal day schedule.
18: Borrow Friends
I know this might sound creepy but what’s the point of having friends if you guys can’t help each other out once in a while. Let’s face it. Borrowing doesn’t necessarily mean asking your friend for money. If you are sure that you guys are good friends then helping each other out isn’t going to be such a big deal, for instance take supper or lunch at your friend’s place and save the money meant for expense.
19: Stop Buying Water
Stop spending your money on bottled water, if you know you might need water during the day, fill a water bottle from home and take it with you to school, work, hike, road trips or wherever you’re spending the day at.
20: Avoid Student Loan Debt
Student loans can be of good help, I agree. Especially if you can’t afford to be in school without some financial assistance. But if there is any chance you can stay in school without the student loan, then I strongly suggest you avoid it. The interest you will pay is huge, especially if you delayed paying back what you owe the government.
21: Minimize Your Outings
If you are that kind of person who enjoys going out with friends to have fan and Chill after a long week. That has to be minimized for a bit. I’m not saying you should not go out. But not on the same rate that you used to. Reduce it and save instead. In fact going out is more fan if it is done once in a long time.
22: Set Small Goals
Set a few goals to accomplish before the end of the year. This doesn’t have to be any big goal. You can simply set a goal on how much money you would like to save in six month and work towards achieving it. After achieving a certain goal successfully, try pushing yourself even more by setting another goal that is slightly higher than the last one.
Other Saving Tips
- Get a side hustle to generate in some income
- Pay off your debts before its interest rates increase
- Try negotiating before buying