1. Find ways to lower your grocery bills
Everyone has to eat of course, but there are a few ways to help bring down your monthly grocery bills. Did you know that a family of four people on average spend close to $1,000 on food every month? One of the first things to do in order to cut down the bills is to set a food budget, create a grocery list each week, and stop grabbing impulse foods, not on your list. Planning your weekly meals ahead can also help you to save on your grocery bills.
2. Cancel any auto memberships you no longer use
Many folks join subscription services like Netflix, Hulu or get a gym membership, for the free trial, but then forget to cancel if they decide they don’t want to continue. Look carefully at your credit card to see what you are being charged for every month and get rid of the services you don’t use.
3. Buy generic brand items to save money
Generic items exist for everything from food to medications. Do you really want to pay for a fancy logo and box for those tissues, rice or flour? When it comes to medications the law says it has to have the same amount of medication in it as the brand name, so you normally will be totally ok with those as well. Buying generic brand items can save you lots of cash.
4. Lower your energy expenses
It is simple to lower your monthly energy costs. Do things like wash your clothing in cold water, turn down your thermostat, fix leaky plumbing, install insulation for your windows and doors, and change to LED bulbs all over the house.
5. Bring your own lunch and coffee to work
Brown bagging your lunch is both cheaper and healthier. Pack yourself a sandwich, some crisp veggies and something to dip it in, and bring a thermos of your own home-brewed coffee. This can save you at least $10-15 a day.
6. Check your car, life or home insurance costs
It is also a good idea to reevaluate what you are paying for insurance. A good broker can usually help you to get the best interest rates or insurance premiums for your circumstances.
7. Refinance your mortgage
If you have a home mortgage, check it out to see if current rates are cheaper than what you are paying now. Sometimes you can save hundreds of dollars in interest rates depending on your monthly payment and the size of your loan.
8. Make a budget to save money
Create a monthly budget so you know what you are spending each month. Factor in things like bills, food, housing and emergencies. Be sure to add in around 10 to 15 percent of your income for a savings account.
9. Get rid of cable TV
Cable TV costs are increasing. Instead, use services like Hulu, Netflix, or access free over the air channels in your area.
10. Ask for a discount and save
Are you a senior citizen? Or a veteran? A teacher? Or maybe belong to another special category? Many places offer Are you a senior citizen? Or a veteran? A teacher? Or maybe belong to another special category? Many places offer discounts of 5-10 percent or more on certain days of the week or even every day. It can’t hurt to ask and it could save you cash!
11. Download money saver apps
You should also check out money saver apps that give you coupons when you shop online, i.e. Honey, Amazon Assistant or Rakuten. They are free and save you a percentage on your orders. Or get programs where you can make cash on your receipts like Fetch or iBotta.
12. Use the library
If you love reading but want to save cash, then check out the library. Even with today’s technology the library can still bring you fun and joy with a new book to read.
13. Set up auto savings from your paycheck
Set up a direct debit to take money from your pay every month and put it into an account you can’t get to easily. This is a great way to save because you don’t miss what you are not used to having. It is a great way to save up for a vacation.
14. Try a staycation to save money
Speaking of vacations, you can save money by holidaying close to home. Exploreyour hometown or state. You’d be surprised at all the free or cheap activities that you can do in your area.
15. Sell things you don’t need or love
Go through your house and find items to sell on places like eBay, Craigslist or via a yard sale. If you don’t love it, wear it or need it then your “trash” can become someone else’s treasure.
16. Try negotiating bills
In some cases you may be able to get a lower price via negotiating. For instance, if you pay in cash some places will lower your bill so they don’t need to pay a fee for credit cards. You never know, so always try.
17. Try to do things yourself instead of always using a service
With YouTube having millions of DIY videos for everything from building a bookcase to fixing a leaky faucet, you can sometimes save by doing the selected task yourself instead of hiring someone. Don’t attempt things like electrical repairs on your own, but you can sometimes do simple home projects.
18. Spend any extra or unforeseen income sensibly
If you get a work bonus or win the lottery, don’t waste that extra cash! Pay off debt or build up your emergency fund.
19. Unsubscribe from marketing emails
Retailers are always going to want you to spend money, so don’t subscribe to their emails or newsletters if you will be tempted to buy something every time there is a sale or coupon offer.
20. Join a retirement savings plan
If your job provides a way to start a savings plan (especially if they match contributions) be sure to sign up for it so you will have money come retirement age or even possible for future emergencies.
21. Buy cars, don’t lease
If you can do it, buying a car is a much better option than leasing one. Why? Because at the end of the lease you don’t even own the car and may be subject to extra fees and other issues if you go over the mileage or damage the car.
22. Change your phone plan to save money
Go over your cell phone plan carefully and see if there are ways to lower it via a better data plan, etc. If you are turning 55 or are a military veteran, there are often discounts available.
23. Try not to spend money for a while with a freeze on spending
Only buy essentials for the month like food and bills. Don’t do any impulse buying or splurge on big ticket items.
24. Write down everything you buy
Be sure to record your purchases – everything from that morning cup of coffee to gas for your car or that splurge on a new video game, etc. Tracking spending can help you identify things you can cut out to save you money.
25. Pay off debt
And most of all, pay off your current debt as fast as you can.
If you’re experiencing difficulties with debt, you can always seek assistance from a reputable company like Nation Debt Relief.
