Learning and saving money are things that all people should do. Sure, spending hard-earned cash seems more gratifying and fun, but what if circumstances present a roadblock that requires a lot of on-hand expenditure.
What then? It’s scary and something to think about it, and fortunately, you can do something about it. With that said, there’s no need to be overly frugal such that you’re saving every last penny or getting cheaper things that will affect your quality of life.
There are steps you can take, and the most important part about it is to always plan. You know you’ve become successful when your bank account reflects savings in hundreds to even thousands per month.
Whether you’re saving up for a vacation, an apartment, or a house or you’re just looking to increase your money in the bank, it can be a bit of a struggle to start at first. Remember that it is never too late to start saving up for your financial goals. If you want more tips, here are money-saving techniques you can follow.
Meal Prep and Planning
Eating out is one of the biggest culprits of why you can’t save money. It’s no shocker if you easily spend $10 to $15 on every meal because the costs add up, and that can easily rack up to hundreds in just a few weeks. It is understandable for wanting to eat out especially when work and other commitments keep you too busy to cook for yourself, but there is a way.
It only takes a few hours to plan meals and shop for all the things you need for the entire week. Meal prepping will definitely save you a lot of money because you buy food and things by the bulk, and some of it you can eat or use again. Furthermore, you can also look into how much nutrition you get when you cook your own meals.
Make Your Own Coffee at Home
For some, going to coffee shops is an everyday habit especially if the place is on your way to work or something you do when you need a quick pick-me-up. However, spending about $5 every day on coffee can definitely add up.
If you’re a caffeine addict, you know that coffee is one of life’s joys, so it is simply difficult to get it out of your life forever in the name of saving up. Instead, try making your own coffee at home and set some budget for a few days a week for coffee shops.
Stay in More
Going out is a lot of fun with friends, and it can be therapeutic especially when you’ve had a hard time because of something in your life lately. However, doing it frequently can put a strain on your budget because you spend on food when you dine out and on drinks for happy hour or cover fees for when you go to clubs.
Make it a point to stay in some nights and do activities that don’t cost a lot of money, like watching your favorite TV shows, playing board games, knitting, or even reading. You can also invite your friends over and have a small gathering to make it less lonely.
While most people think it is easy to spend a lot of money through online shopping, it isn’t always the case. In fact, you can save money if you do a little bit of snooping around.
You can get online coupons and voucher codes for your favorite stores if you avail of exclusive online deals, subscribe to newsletters for promo codes, and look at sales. This works for all kinds of stores including shopping for groceries, cosmetics and many more.
Another thing to consider is to sell a few items or clothes on a reliable ecommerce platform. You don’t even need to be an expert in programming and website design to be able to set up your shop online. You just need to drag and drop and select using your mouse. This way, you not only get rid of the things you have no use for, but you can also earn money on top of saving.
Pay in Cash
Cashless transactions like debit and credit cards are especially useful when you have big purchases. Paying in cash is a smart move when it comes to your everyday expenses because you can physically keep track of how much you are spending and, therefore, more conscious of your cash outflow.
Take the effort to withdraw cash from your ATM instead of using cards because you’ll see how many times you go to the machine to get cash, and hopefully, you’ll realize it, and it will help you decrease spending.
Go for Reward Programs
You know those reward programs that cashiers and store employees always peddle? They actually work, and you get to save a lot of money when you take advantage of those deals.
There are programs that offer members-only bonuses, gift cards, and discounts that can greatly help with your weekly groceries. Plus, accumulated points can be redeemed as coupons for many things, including free shipping, access to flash sales, and many other bonuses.
Be More Conscious
Don’t beat yourself up when you’ve splurged a little or if you’ve deviated from your savings plan. If you make a mistake, learn from it, and promise to do better. Be more aware of your spending habits, and learn when to say no, but the most important thing is to keep learning and to get inspired to keep going after your goals.
Do you have money-saving techniques you want to share? Share what you think in the comments section.