Money Saving Ideas

Money saving ideas are important because they save your company money and help ensure you have the funds necessary to pay for present business expenses and future business costs as well as create a reserve that can be used as a fallback or future investments.

Here are some of my favorite save budget ideas:

1. Turn off the lights when you are not in the room!

If you are leaving your office for any reason, turn all of the lights off before you leave to help save energy and money. This is a simple way to save money that many people often forget about or neglect to do.

2. Instead of printing, try to see if you can do all of your work online and save paper and ink at the same time.

By only printing when absolutely vital that you need a physical copy will help cut back on overhead costs such as paper and printer ink.

3. Use coupons when you shop for personal and business expenses.

Coupons are a great way to save money that can add up in the long run!

4. Get rid of subscriptions that you no longer use or which you feel like you do not need anymore.

Many times people subscribe to services that they do not use or need and end up wasting money on something they could live without. Make sure you look through all of your subscriptions and see if there is one you can get rid of in order to save money.

5. Carpool with coworkers when traveling for business.

Riding with coworkers instead of driving alone can help you split costs and save money at the same time.

6. When traveling on business, call around to see if cheaper fares are available from one city to another before booking a flight.

Many times flying from one particular city to another will cost more but flying from city to city within two or three hours of the first place will be much cheaper.

7. When eating out, always ask for a lunch menu.

Many restaurants have lunch menus with lower prices that are only available during certain times of the day which is typically right before their busy dinner time Ask if you can get the lunch menu even if it is not time for the lunch menu to be offered. This is a great way to save money when eating out.

8. Wait until an online purchase has gone on sale or wait for a coupon code before making an online purchase to save money.

Many times, websites will run awesome deals which happen fast! If you are not paying attention or need something ASAP then this may be a way to affordably get the thing that you want without having to spend too much money.

9. Start comparing the prices of items before you buy them.

By comparing prices, you may be able to find a better deal on an item that you have your eye on and if not then at least you know where the going rate is so when it goes on sale in the future at a different store or by a different seller, you can get it at a better price.

10. Don’t impulse buy.

If you start to feel yourself being tempted by an item that is not something that you really need, then do not buy the item! You will be glad when it comes time to go home or when your credit card bill arrives because you know that you are not spending money on something you do not really need.

These are just a few of the best ideas for saving money but it is up to you to make sure that these are implemented in your daily life. If everyone were to implement even half of these suggestions then they will have more money because they are not spending it on unnecessary things.

The Pros and Cons Dave Ramsey Baby Steps

Dave Ramsey is a well-known financial guru, radio show host, and best selling author. His advice on debt management has helped many Americans recover from the Great Recession of 2008. But does his advice apply to all? Let’s take a look at some pros and cons of following Dave Ramsey’s Baby Steps.

The Pros of Dave Ramsey Baby Steps

Debt reduction will make you feel accomplished by taking control of your finances and improving your credit score while saving money on interest payments over time which can be invested elsewhere. With an improved financial situation, comes increased opportunities for career advancement or starting a business as well as more peace of mind in general.

Dave also advocates investing 10% of income into retirement accounts like 401ks or Roth IRAs. Many people do not pay themselves first, and when you are young, this is very important.

Dave suggests paying off your home mortgage early if possible since the interest can be tax deductible as well as lower property taxes (capped at 1% for most homeowners in their primary residence).

The idea of building equity so quickly while reducing debt is appealing as well because, unlike other investments like the stock market or real estate, you know exactly how much your home is worth at all times.

The Cons of Dave Ramsey The Baby Steps

Some people simply cannot afford the baby steps as given by Mr. Ramsey. He suggests paying off all debt (including mortgage) before funding any retirement accounts or even saving for emergencies. However, it is often beneficial to have some type of emergency savings fund so that if something should happen your savings are available and not tied up in a house you cannot sell easily.

Often, people who follow Dave Ramsey’s baby steps have no savings and too much debt. The baby steps assume that the reader has no debt, which is rarely the case.

Dave Ramsey advises against getting into further debt to pay for things you cannot afford such as a vacation or home remodel in principle. However, some people will benefit greatly from incurring new debt or even having additional credit cards.

For example, a person who would benefit from opening their first credit card to build or rebuild their credit as well as increase their available credit limits could benefit greatly by building a strong foundation before tackling further debt reduction strategies.

Some people recommend paying off your mortgage early only if you can earn more on that money in investments elsewhere and/or your home value will increase significantly.

In addition, some people point out that you never stop paying off your mortgage no matter how much you pay down since the interest on your house is tax deductible.

Similar to investing in real estate with a low debt-to-income ratio, for example less than 20% leverage (loan amount compared to the current value of your home), Dave Ramsey suggests investing in stocks and mutual funds with a low debt-to-income ratio.

However, actual research has shown that high-income, high net worth investors do not follow this rule of thumb since the risk is more than compensated for by larger investment returns over time. Although it would be ideal to have much higher income in retirement to be able to afford the mortgages and debt you may incur while investing, it is unlikely that your income will be high enough compared to your mortgage interest payments.

With Dave Ramsey Baby Steps, you pay off all debt before saving for a future house or college education for your children. However, many people would rather pay for college or their own retirement before helping their children pay for school.

Investing in stocks and mutual funds over the long-term is a great idea. However, many people who are new to investing would be better off with less risky investments such as bonds and CDs until they improve their investment savvy.

The biggest problem with Dave Ramsey Baby Steps is that many of his readers do not have the income to pay off ALL their debt and save for emergencies. Because they cannot afford to save, people who follow his baby steps end up with too much debt and no savings at all.

While it can be tempting to follow the baby steps, you should consider your current situation. If you are not earning enough income or do not have any savings, then following this plan might cause more problems than it solves.

The best thing for most people is to work on a debt repayment strategy that they can afford before worrying about saving money. You can watch some of Dave Ramsey’s videos on YouTube while you prepare to buy his Baby Steps Program in full.

How to Save Money on Low Income


Living on a low income doesn’t have to mean living without. When you are living in poverty, earning less than $30K per year, save every dollar you can so that it will pay off.

If money is tight and the bills are piling up, here are some ways to save your hard-earned cash:

Maintain your vehicle well

Do not be afraid of doing small maintenance jobs yourself just because you don’t know how, because save money by maintaining your own vehicle. You may save hundreds of dollars a year by doing minor repairs and maintenance on your car yourself, rather than paying someone else to do the job. For instance:

Doing oil changes is easy with a mechanic’s ramp from an automotive store. Cleaning out fuel injectors can save you hundreds of dollars, as well as save time that could be spent in other ways.

Barter goods and services

There are many free sources of household help on Craigslist such as mowing lawns in exchange for free childcare or cleaning homes one day per week in exchange for a babysitter.

Barter goods and services with friends and neighbors. If you enjoy gardening, cleaning, or trades such as plumbing, offer to do these jobs for others in exchange for things you need.

Maintain and save money by doing small maintenance jobs yourself rather than paying someone else to do the job. For instance: Doing oil changes is easy with a mechanic’s ramp from an automotive store. Cleaning out fuel injectors can save you hundreds of dollars, as well as save time that could be spent in other ways.

Make informed grocery decisions

The most costly items in the grocery are meat and produce so plan your weekly meals around cheaper sources of protein, such as beans and tofu or fruits and vegetables . When choosing animal-based protein, always purchase the whole/half animal rather than pre-packaged meats.

Begin each shopping trip by planning out your menu for the week and sticking to it. Make a list of meals you can make with ingredients already in your house.

Blend and save money on food

Buy in bulk whenever possible (but not when fresh produce is involved as it decreases in nutritional value over time.) If buying meat or other perishables, save money by freezing some for later use.  

Cooking large meals for leftovers helps save money because portion sizes are likely smaller than if eating a whole entree every meal. This also saves time that might otherwise be spent cooking every night of the week! Visit farmers’ markets for fresh produce.  

Become friends with a nearby grocery store manager and save money on groceries by purchasing items that are about to expire at discounted prices . Dried beans are extremely cheap, high in protein and easy to prepare- the perfect way for low income families save money on meals!  

When making large batches of soup, add many types of vegetables so that you only have to eat it for one or two days as leftovers.

Make your own condiments such as ketchup, hot sauce, salad dressing and jams. Freezing bread is a great way save money because it can be used in most dishes.

Cheaper cuts of meat are often just as tasty as the pricier versions, provided they are cooked correctly.

Combat food waste

Wasted food costs money and creates unnecessary clutter. Be mindful of the amount you purchase by using an exact measure for each recipe you make or getting a scale to weigh produce so that you know exactly how much you have purchased.

Freeze any leftovers immediately rather than letting them sit in your fridge or save money by planning meals around those items that would be otherwise wasted such as stale breads.  

Buy generic brands when possible  The healthiest foods (dark green vegetables, nuts, seeds, and lean meats) are least likely to be reduced in price even when bought in generic brands.

Buy ingredients in bulk when you see a good price on them. Freeze or dry excess herbs to save money by using less expensive versions of these spices.  

Make things yourself rather than buying them at the store such as applesauce, peanut butter, flaxseed oil, and juice. Learn how to make bread from scratch and save even more!

Utilize free food resources

Check out your local community center or church to save money on groceries. Many grocery stores sell “seconds,” which are produce items that are perfectly fine, but they did not meet the appearance standards of the store’s brand image.

Work part time

Even small amounts of income add up quickly over time.  

Barter/Trade services

If you have skills, offer your services to save money in exchange for the goods or services that you need.  

Trim your grocery bill with coupons

While accepted by many companies, coupons are a great way save money on groceries because they often save around 50% of the cost of an item.

Visit your local library or save money by using a free computer at the library as you research recipes and plan menus for cooking on a budget.  

Create your own recipes with more expensive ingredients in order to save money later on. Most people can save some money by cutting their food costs by 10% over a year, save even more by 20% or more.

Do not waste food

The average American wastes 15-25% of the food that they purchase each month. That is a lot of wasted money! Save money on groceries by eating what you buy and using leftovers from the night before in new recipes to save time cooking.  

Save money on heating bills by turning the heat up a few degrees during colder days, save even more money by wearing layers, and utilizing blankets to save money.

We hope these helpful tips save you some time and money so that you can focus on living your best life.

Pros and Cons of Making Money Online with Surveys

If you’re looking for a way to make money online, you may have thought about completing some online surveys. During these surveys, you’ll need to fill out the information about yourself and answer a series of other questions on products, businesses, and more. The tasks are often simple, making it possible for you to earn extra cash without too much effort. However, before you get started, it helps to know more about the pros and cons of online surveys for money.

1. You Can Make Cash at Home

When you do surveys, you can complete them from home or anywhere else. You can complete the surveys on your phone, laptop, or tablet while watching television or listening to music. It’s a simple process that allows you to earn quick cash without going anywhere. 

If you’re looking to add to some of the different ways to make money online, doing surveys is always an option. It’s good to have it saved as an extra egg in your basket for when you need cash to cover small expenses, such as gas for your vehicle.

2. You Can Have Fun Filling Out Surveys

Some surveys are fun to fill out. If you like answering questions on products that you’d typically buy at the store, you might have no problem completing these surveys and getting the money for doing so. It’s a great way to earn income on the side in your spare time when you’re feeling bored and need something to do.

3. Completing Surveys Can Get Repetitive and Tedious

One of the cons of doing surveys is that things can get repetitive and a bit tedious. You might get tired of pressing buttons, rating products, and typing different information into the survey boxes. It’s easy to get bored of doing surveys for this reason.

4. You Won’t Make a Living

Don’t expect to make a lot of money doing surveys online. While it’s a great way to bring in some extra cash each month, you won’t make enough to live off of when you’re doing the surveys. 

You can expect to make enough money to cover a trip to Starbucks or the gas station to fill up your vehicle, but that’s about it. Some surveys do pay more, but it’s rare to get paid $100 or more for a survey that you’ve taken. So while it won’t make you rich, if you’re the kind of person who loves to have different online income streams, you can stick with it and make decent money each month.

Pros and cons of online surveys for money

There are both pros and cons to making money online with surveys. You can have fun with it and make spare change to use for different purposes, but it gets repetitive and tiring. On the other hand, while you won’t get rich from taking online surveys, you can expect to do them to stay occupied while bringing in a few extra dollars each week. You might even want to set that money aside in a savings account and use it as fun money to do what you wish to with it when you’ve collected enough cash.

Practical Budgeting Tips for Anyone

Do you want to save money, improve your credit score, and achieve great success? If these are goals that you have and you’re hoping to reach them in the coming weeks or months, consider trying some of these practical budgeting tips that anyone can follow. Whether you’re new to the idea of budgeting your money or not, you can learn how to successfully save cash instead of spending it.

Live Below Your Means

Most people will tell you not to live beyond your means because that can quickly cause you to end up with a lot of debt. While this is true, it’s better to live below your means when you’re trying to save money. If you spend less on the things you used to blow money on, such as shopping trips, excessive vacations, and other non-essential expenses, you’ll save hundreds of dollars. 

Your save budget can make such a difference because the money you’re no longer spending gets set aside in a savings account that you can use to build wealth. You may eventually feel comfortable enough to invest some of your savings into other things that can help you increase your income.

Use a Cash Envelope System

Some people like using the cash envelope system when budgeting. It’s a great way of sorting out the money you have and figuring out where you can afford to spend it while bettering yourself in the process. For example, you’ll have envelopes with text displayed on them that will say specific things, such as:

  • Bills
  • Groceries
  • Clothes
  • Family Fun
  • Car Maintenance
  • Charity
  • Savings Account

Spending Less While Saving More

These are a few ideas, but you can have as many envelopes as you’d like. Your priority should consist of adding money to envelopes for bills, groceries, and other essentials. When you see that you have extra money, you can put it in other envelopes, including your car maintenance, charity, and savings account. It’s still possible to donate to charity while you’re saving money. If you’re spending less on useless things that you’d typically buy, you’ll end up with more money in your pockets. Even the smallest donation can mean a lot to someone in need!

Make Food at Home

One of the biggest problems people have when it comes to saving money is that they’re constantly buying food outside the home. You may have that same problem. Do you get a $5 drink at Starbucks daily? Do you eat fast food for lunch most days of the week? While there’s nothing wrong with treating yourself here and there, the cost adds up when you’re doing it each and every day of the week. 

Use Coupons 

If you buy groceries while they’re on sale and use coupons, you’ll save money on food you can prepare at home. You can end up saving hundreds of dollars each month when you’re no longer going to fast-food restaurants.

If you want to budget and start bettering yourself to improve your financial situation, these are simple, practical budgeting tips worth trying. While it might seem complicated to stick to a budget, taking baby steps works wonders. It’ll help you get the start that you need.

Ways To Save Money On A Tight Budget

There’s no doubt that we all want to earn lots and lots of money. While some people work hard and ultimately achieve their dream of financial wellbeing and wealth, others don’t seem to make it big in life. What’s even more important than making money is saving it because even if you don’t earn a lot, you can still build a nest egg to fall back on or utilize on your hobbies and passions.

If you’re looking for ways to save money on a tight budget, then you’re on the first step of financial success. Here are some of the best tips that can help you make saving money a part of your life.

Don’t Overspend on Groceries

One of the most significant expenditures that people make every month is on groceries, and while they’re an essential component of your lives, most people tend to buy lots of non-essential items that they can simply do without. One of the best ways to save money on a tight budget is to watch what you spend at the grocery store and curb your temptations.

One way to do this is to make your grocery list and stick to it to not put any unnecessary products in your shopping cart. Secondly, also make sure that your stomach is full when you’re shopping for groceries. Studies show that when people are hungry, they get easily tempted by the junk and unhealthy foods they see in supermarkets.

Also, don’t stock up on foods and groceries because the chances are that most of it might go to waste.

Get a Cheaper Cell Phone Plan

Another way to save money on a tight budget is to reduce your current cell phone plan. You might be shaking your head already, but most of the time, you don’t even consume all of the data or minutes that you buy, or you just use them so that they don’t go to waste once the expiry date has reached. Cell phone companies come up with new deals now and then, and you can ask your service provider to hook you up with a better and cheaper plan.

Sell Unused Items

If you look closely around the house, you’ll find dozens of things that are simply lying there and gathering dust because you haven’t used them for more than a year. So, why not sell them and make some extra cash? Plus, clearing out the clutter inside your home also allows you to distress and keep the house clean.

You can make use of online marketplaces where people sell or trade used items. Simply take good photos of the stuff you want to sell, and upload them with clear information about the product. In no time, your house will be clear, and your wallet will be a little heavier!

Focus on ‘Needs,’ not ‘Wants’

If you’re saving up to buy a new appliance, cell phone, or car, or have a necessary expense that requires a lot more money, then it’s time for you to separate your wants from the needs and put your non-essential shopping trips in the background. You’ll instantly notice that you can save a great deal of money this way.

Apart from helping you save money, this method will also help you determine what you should spend on and what you can live without.

No More Eating Out

No matter how enticing or tantalizing those burgers look in that restaurant banner outside your window, you have to resist the temptation of eating out when you’re on a tight budget. A major portion of our expenses goes towards eating at restaurants and hotels with friends, and most of it is because of peer pressure.

So, start cooking your meals and eat at home. Not only is it an excellent way to save money on a tight budget, but it’s also healthy and rewarding. Moreover, you can learn to cook anything nowadays, so why not try out home-cooked gourmet dishes?

Stop Using Credit Cards

One of the biggest causes of all our unnecessary spending is credit cards because they allow us to buy anything we want, even if we don’t have any money at the moment. People who have impulsive shopping tendencies tend to instantly pull out their credit cards whenever they see something they like, even if they’ll regret it later.

Credit card usage also comes with many interest payments, which can keep climbing if you don’t pay your bills on time. Hence, you should do away with credit cards and focus on spending wisely.

Set Aside Savings First

90% of people make this mistake: they start spending the money on essential and non-essential stuff whenever they get their paycheck. Once the end of the month approaches, they’re left with little or no money. Then, they lament that they can’t seem to save money.

A famous investor said, “Savings is not what’s left in your account at the end of the month. It’s what you set aside at the beginning of the month.” Using this principle, decide on a fixed amount to transfer to your savings account at the start of every month.

This amount can be as little as 1-2% of your monthly income and can even go up to 20%. This way, you won’t be tempted to spend this money on anything else.

Buy Used Stuff

If you can sell your used stuff, you can also save a lot of money by buying used stuff instead of new and branded products. It can be something as small as a watch, to something as big as a car! Nobody cares if you’re using an older model of the latest phone or if your TV has a few scratches on its side because you bought a used one. At the end of the day, you’ll be the one who will benefit from the savings.

This concludes our list of the best ways to save money on a tight budget. We hope you’ll be inspired to implement these ideas into your daily life and start saving money for emergencies or any sudden expenditures. Moreover, you’ll also experience a boost in confidence and self-esteem when you have hundreds or even thousands of dollars in your savings account.

5 Golden Rules of Family Budgeting

Many people got it very wrong when it comes to the dreaded budgeting, associating household spending plans with restrictions and sacrifices. Such a way of thinking is not constructive when tending to your financial needs and wants.

One simple truth is – budgeting is not only for those that need to get out of debt. A household budget is a tool to help you and your family always have enough money for essential things, as well as other life pleasures of your choice. 

A budget will keep you financially stable

A household budget is essential for the future of your family because it helps you keep financial stability. Budgeting is a must if you wish to expand your health and personal finances. Living within your budget will help you avoid excessive debt and build long-term and emergency savings account.

You will gain much more control over your financial priorities, such as housing, food, medicine, and transportation. Additionally, budgeting will help you prepare for retirement by establishing investing habits.

Creating your first household budget can seem pretty daunting, but don’t worry. I will walk you over the process and debunk some of the damaging myths responsible for your resistance to budgeting up until this point.

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Common myth: Budgets are for people in debt

First of all, budgeting is not for people in debt, but for any person who wishes to stabilize their finances and avoid debt. If you’re merely balancing your checkbook, that’s still not as good as budgeting because the checkbook cannot prepare you for unexpected expenses. Budgets, on the other hand, can. You cannot control events like sudden repairs or health trouble, but you can manage your money. Don’t let it control you.

Since we’ve covered the widespread myths, it’s time to go over the crucial steps of creating your budget.

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Steps to create a household budget

  • The first thing you will have to do is identify your essential goals.
  • Secondly, you will have to rank your monthly spending from necessary to trivial.
  • Your third step should be adding your net income and subtracting expenses.
  • The fourth step will consist of adjusting your planned expenses and considering additional income if necessary.
  • Final step – adjusting your planned expenses and considering additional income if necessary.

Identifying your goals is the basis for your budget

If you want to make your budget work, you have to tie it to your personal goals. Those should include the purchases you want to make when you want to buy them and how much money you will need to make it happen (both total amount and the monthly rate).

Pro tip: Sharing your plans regarding the budget with someone else is brilliant because it exponentially increases your likelihood of achieving your goals. 

Prioritize your expenses

Your goal-setting process will be completed once you prioritize your expected expenses into the spending groups.

Must have’s: The priority expenses that you need to pay before any others. Those include your rent or mortgage, electricity, water, sewer, and trash expenses, as well as food and clothing. Make sure to have emergency savings into your must-have priorities in the budget. You could need them in case of medical emergencies or job loss.

Critical needs: Include cell phone and internet services, childcare, debt payments, transportation, insurance, maintenance… Think about where you can save some of your hard-earned money. If you live relatively close to your workplace, consider riding a bike instead of driving to work. It’s much cheaper and no less important, much more sustainable.

Lifestyle decisions: These include your daily choices such as eating out, drinking fancy coffee, going to the movies, purchasing a piece of nice clothing, or getting Netflix, for example. To cut back on some of these wants means a lifestyle change, which is why some people refrain from creating a budget. However, cutting back on such spending will get you to your set goals.

Trivial wishes: Those are basically anything you want but can do without, including long-term desires.

Prioritizing your expenses is vital because it shows you which costs are fundamental and essential and which can wait. Building a rational structure will help you steer clear of emotionally driven purchases.

Track your expenses

Grab a calculator and calculate your expenses before you estimate your net income. This approach will help you make rational decisions about your spending, which will lead to better outcomes for you.

Create spending categories for regular bills in your budget, and then add the expected payments that you will need to make. When it comes to variable expenses, do your best to estimate your monthly purchases in that category. Make sure to take seasonal factors and holidays, birthdays, and other factors into account.

Record your income

Write down your expected monthly income using your net income. How to Create a Family Budget that Works ebook will help you with all of these steps! No stressing. No worries.

Click here to buy Learn Grow Master’s How to Create a Family Budget That Works eBook today!

Subtract planned spending from projected income

After you estimate your future expenses and income, subtract your planned purchases from your payment. The strategy is simple; a figure above $0 is living beneath your means, whereas a figure near $0 means you expect to live within your means. If you get a resulting figure below $0, that means you wish to live beyond your means.

To build your savings and investments, you should, of course, live below your means. It’s only logical. If you find you’re living beyond your means, you don’t necessarily have to cut back on some of your expenses. Instead, you could consider increasing your income by seeking a better paying or a side job. 

Plan according to your weak spots and budget

If you happen to find yourself faced with a negative projected balanced budget, don’t make a common mistake of an immediate cut of expenses. Instead, take some time to find an effective way to balance out your household budget. Adjusting your spending is a solid way to go, but in the meantime, look for other ways to increase your income.

Conclusion

If you find yourself in over your head regularly when it comes to paying for your life needs and wants, you should revisit your priorities and expenses. If you’re living beyond your means for housing, transportation, or communication, think about what you can change to unburden your budget.

We end with this question today;

Do you have a family budget?

Best Ways To Save Money


If there’s one thing mankind is running after collectively, it’s the pursuit of money. No matter where you are or what you do, money is always the driving force behind all of the significant decisions that you make in life, from your next meal to your very first home.

While most people are focused on making more money, others are trying to find ways to save money.

Saving money sounds very easy, but it can be quite tricky, especially if you’re the breadwinner or sole earner in your household. However, there are some ways to save money that you can employ in your life, and these take you one step closer to financial stability.

Let’s have a look at the best ways to save money.

Say No to Debt

If you haven’t heard it before, hear it from us: debt destroys lives. Once you start taking loans from banks or lenders, you get stuck in an infinite loop of monthly debt payments and interest accumulations that cause you to pay a lot more than you borrowed.

The best way to rid yourself of debt is to start with the smallest ones and make your way upwards from there. Once you pay off every last cent, you’ll feel relieved. Plus, you’ll have more money freed up that you can save or invest.

Watch What You Buy

The biggest problem with most people is their impulsive shopping tendencies, which come to life at supermarkets and convenience stores. In these stores, hundreds of essential and non-essential products are stacked in such an appealing manner that you keep dropping stuff into your cart, and the offers and discounts also entice you.

If you take a closer look at your bill, you’ll be shocked to find that more than half of the things you bought aren’t even necessary! Therefore, make sure to keep an eye on your buying and spending habits.

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Get Rid of Automatic Subscriptions

If you’re a TV and movie junkie, the chances are that you have a subscription for Netflix, Prime Video, HBO Max, and all of the streaming platforms out there. Plus, you’ll also have a TV box, gym memberships, and whatnot.

If you need to save money, then it’s time you review your subscriptions and memberships and see which ones you can do without. If you pay more attention, you’d realize you can do without all of them.

Ditch the Brands

There’s no doubt that branded products are of good quality, but it’s the exquisite packaging and branding that pulls you towards them. If you take a closer look, you won’t be able to tell the difference between branded and generic products once you remove the packaging and place them side-by-side.

If you stick with generic products for a short while, you’ll be able to save hundreds of dollars conveniently. Plus, you won’t even have to cut down on anything.

Set Up a Savings Account

Do you have a savings account? If not, then you’re not taking your saving seriously. By setting up a savings account, you can transfer some of the money from your account into it every month, preferably as soon as your salary comes in. It’ll be a few dollars that you won’t be tempted to spend.

Moreover, you can even set up your account to directly debit a fixed amount to your savings account as soon as your salary is credited. This is the perfect way to ensure that you save a certain amount every month. Check your savings every six months or so, and you’ll be surprised how much money you saved.

Don’t Party on Extra Income!

When we receive unexpected or extra money from somewhere, it’s always a delightful experience! Whether it’s a rebate, refund, or overtime pay, it should go towards your savings directly. If it’s a good amount, you should save at least half of it, while the remainder can be used for any essential or crucial tasks.

Don’t spend it all on partying because the guilt of wasting money is always higher than the joy of receiving it!

Use Electricity Wisely

Another excellent way to save money is to monitor your house’s energy consumption and take steps to reduce it. You can cut down on your electricity bill by implementing a few tried and tested methods, such as installing energy-efficient lighting and electrical appliances, as well as less usage of hot water, as it’s one of the most significant contributors to your energy consumption.

Replacing your current bulbs and appliances with new ones will cost you some money, but it will be worth it in the long run.

Switch to Packed Lunches

If you start keeping track of the money you spend on eating out, you’d be shocked at the hundreds of dollars you dish out! There’s no harm in ordering lunch from your favorite restaurant while you’re at work, but it isn’t good for your health or financial well-being.

To avoid the temptation of ordering food, make sure to carry a packed lunch with you so that you have something to eat whenever you feel hungry. Trust us; you’ll be able to save a great deal of money in this manner!

Take the DIY Route

The age of do-it-yourself allows you to perform many tasks and repairs around the house on your own, and it also enables you to make different objects that you need instead of buying them. You’d be surprised at how much money you can save by building something yourself, as the cost of materials isn’t very high.

For DIY projects, Google and YouTube are your best friends, and you just have to know how to follow instructions correctly. Be it a table lamp or drywall installation; you can do everything yourself and save a lot of money that would be spent on professional help.

These are some of the top ways to save money, and they don’t require you to make any huge sacrifice or change your lifestyle drastically. Even if you apply one or two methods from the ones we’ve mentioned above, you can easily save hundreds, if not thousands, of dollars every year!

We end with this question today;

What’s one change you’ve made in life to save more money?

Frugal Living Tips for Great Success

Frugal living is often associated with being cheap with your money. Generally, it is believed that hoarding money, buying low-quality products, and spending less and less money are the criteria for frugal living. Like most things, this is misinterpreted, and the meaning of ‘frugal living’ is a false concept.

Frugal living is a strategic way of handling money to adopt an efficient lifestyle. It demands a person to think and analyze the costs and benefits of spending money rationally. When you’re practicing a lifestyle that involves frugal living, you become conscious of spending money on things that matter and cutting back on spending money on things that can be avoided or not necessarily needed.

A frugal life teaches people how to budget properly, avoid unnecessary costs and debts, and become organized with money. When applying frugal living tips, it does not mean that you cannot buy expensive goods and services or any high-quality/high-end brands – it simply means spending money wisely and smartly to save up for the future.

If you’re looking into adopting a frugal living, then below are ten tips you can follow:

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Budget your money

Creating a budget helps you keep in check the spendings you can make and how much savings you have made. For frugal living, a budget allows you to see where you can cut down on costs and adjust other spendings in the same budget.

Make use of any sort of discounts

Using discounts on purchases is not a shame at all. To create a frugal living, this is a very efficient method of saving money where possible, without causing harm to anyone or anything. You can always save money by using coupons and not letting them expire or throw them in the trash. Reward points are also an easy utility to cut back on costs.

Waiting for sales to buy a certain item is also a smart move, and all in all, just utilizing sales to the maximum is a smart way to save money when you can pay less for the same item.

Manage your meals

This is also a form of budgeting – except, in this, you learn how to allocate your resources on food alone. Managing your meals means creating a weekly/monthly planner of your meals. It allows you to look ahead of time and see how you can allocate your money to each meal and how much money can be allocated to other things like coffee, milk, and restaurant meals.

Planning early permits you to not spontaneously eat take-out or going out for food. Therefore, that saves a lot of money you otherwise would’ve spent without realizing its loss.

Know what car you can afford

Buying a car is almost everyone’s dream. But when trying to adopt frugal living, it’s essential to realize when you can afford to buy a luxurious car and when you have to critically manage your money around it. When buying a car, you should stick to the one that you can afford without having to pull many strings here and there.

Moreover, it’s important to also be able to keep up with its expenses, such as its insurance. With insurance, too, make sure to pick the best possible plan for your car and yourself.

Shop what you need and can afford

Shopping impulsively or because it’s ‘therapeutic’ is a tendency of all humans. However, it must be overcome if you’re trying to achieve a frugal living. Buy what you need instead of shopping impulsively, and take your time to think before making a purchase.

Additionally, stay within the budget and purchase what you can afford. This way, you can keep a check on the status of your money with you.

Create a smart traveling plan

Traveling is quite expensive, but it can be made affordable if tried, leading to frugal living. When deciding to travel, make sure you do thorough research and pick a relatively cheap destination. Moreover, look for discounted or cheap flights and hotels you can book, and make sure to use promo codes too. You can also use credit card awards for flight booking.

Additionally, indulge in activities free of costs, such as parks, sightseeing, and outdoor landmarks. Some cities also have assigned days with free entrance in museums, so do your research.

Be wise with your wardrobe

It’s easy to want a lot of clothes, shoes, bags, and to have the fanciest wardrobe we can have. But unfortunately, spending on wardrobes contributes to a lot of the ‘unnecessary’ spending previously discussed. To avoid this for frugal living, rummage through your wardrobe – and in the depths of it, you’re sure to find some items that you wore only once, a long time ago.

Therefore, find those items to use again and properly organize your closet. Likewise, re-use your things as much as you can – there is absolutely no shame in that! And before a shopping spree, go through your wardrobe to know what you need, so that you don’t end up shopping for unneeded things.

Review your subscriptions

Most of the time, people subscribe to magazines, shows, TV cable, auto-shipping, etc., because it seemed useful to subscribe at that moment. However, they tend to stop paying attention to all these subscriptions over time and become too busy to unsubscribe.

Hence, sort through your subscriptions, keep what you use, and unsubscribe to those you don’t need. Therefore, you’ll save a lot of money by not having to pay for extra subscriptions – healthily embracing a frugal living.

Avoid going out for celebrations

Going out for celebrations is always a given. However, it may be what is stopping you from applying frugal living. It would be more efficient if parties were hosted at home, instead of paying huge bills for fine dining.

This would have you save money and enjoy some quality time with others since public places are usually loud and rushed. To make it even more frugal, you could also host a pot-luck party where everybody has contributed and is engaged.

Invest in a water filter

To carry out a frugal living, stopping your purchase of bottled water is a must. This not only contributes to environmental concerns but also takes up a lot of your budget. So it is safe to say that installing a water filter is a good investment because of its cost-effectiveness.

It’ll provide you clean drinking water without having to pay a ridiculously large amount of money for bottled water.

Frugal living is certainly not being selfish with your money; it’s only for financial protection. What’s the harm in that? So if you’re considering saving up to meet the demands of frugal living, then follow the tips mentioned above!

We end with this question today;

Do you have great success with frugal living? Share some tips!