Whether you’re pinching pennies or saving up for a big-time investment or purchase, there are probably ways of saving money that you aren’t taking advantage of. No matter where you are financially, you can always start saving more and that often starts with figuring out the best ways to save money.
On this list are rules that certainly don’t apply to everyone – and they might not all apply to you – but if you can find a few tips and tricks on how to budget your money to save here and there, you could end up being a much more financially liberated and empowered individual.
Take a look and this list and find a few new rules to follow. You might end up a much richer person for it.
Move Banks Accounts
This might seem like an inconvenience, but what’s worse? Having to switch bank accounts, or losing money due to monthly fees? If you find that you are paying monthly fees on your account, it might be time to find greener pastures as a way of saving money.
New accounts may not only offer more favorable interest rates, they also regularly offer sign-up bonuses to attract new customers.
Negotiate Rates with Your Credit Card Company
If you’re paying a lot of interest on your credit cards, it’s crucial that you try to figure out a way lower your interest rates. As long as you’ve been making your payments you should have the leverage necessary to reduce your current interest rate. This is without a doubt one of the best money saving tips because it works for you both in the short term and long term.
If you can’t get your current credit card companies to budge, it might be time to consider initiating a balance transfer to another credit card. By doing so, you could take advantage of many cards’ 0% APR promotional periods and save hundreds of dollar’s worth of interest.
Cut the Chord on Your Cable
In 2019, you can watch almost anything without the need of a cable box. If you have good enough WiFi, you can easily get by in terms of entertainment with one or two streaming subscriptions. This is a great way to save money because cable companies are notorious for charging hidden fees for channels you never asked for, never wanted, and don’t even know you have!
Sign Up for Free Customer Reward Programs
This is a great way to take advantage of deals and sales that you might otherwise miss if you’re not a member.
If this seems like an attractive option for you, but you’re worried about having your email inbox overloaded with ads and spam, just make a new address specially meant memberships. That way, you can log in and check the most recent deals whenever you’re in need.
It’s not only a good way to save money, it’s a good way to become the best gift-giver in your family!
Write a Shopping List and Stick to It
One of the easiest ways to save money on food is to go grocery shopping, but even when you go to your local grocery store, you might end up leaving feeling like you’ve wasted quite a bit of money on unneeded items.
To avoid this, write a real list of what you need and stick to it! To save even more money, cross-reference your list with an up-to-date list of items that have been marked down from full price.
Bring Candy to the Movie Theater
This might seem a bit cheap and a little immature, but honestly anyone who is willing to spend five dollars for a box of M&M’s is simply insane! Just run to your grocery store, get some candy, and stuff the bag in your pocket or purse before walking into the theater.
Want to save even more money? Don’t go to the movie theater at all. Stream a movie online on one of your already paid for streaming services.
Sell, Sell, Sell
Just because you don’t use something anymore doesn’t mean someone else isn’t willing to pay for it. Have an old guitar you haven’t picked up in years? Try to sell it. Got an old bike lying around? Try to sell it. This won’t only save you money, but space.
Sure, you might be saying goodbye to some things you’ve had for years, but it’ll be worth it when you see that extra cash in your checking account.
Ditch the Cards and Pick Up the Cash
It’s one thing to put yourself on a daily, weekly, or monthly budget, and it’s another to actually stick to it. If you have yourself on a budget, but find yourself constantly going over your self-imposed limit, it might be time to pull those cards out of your wallet and replace them with cash.
Cash works in a multitude of ways. First, you have a constant physical reminder of how much you’ve spent and how much you have left to spend. Also, you won’t be adding to any credit card debt you may have accrued while going over your budget in the past.
Don’t Get Rid of Clothing in Need of Repair
Have you ever had to get rid of a pair of jeans due to a tear, or donate an oxford because of a missing button? If you have, you’ve probably spent quite a bit of money on replacing it. Instead of doing that, just learn to sew and mend clothing. It’s an extremely useful tool and can help you save hundreds in the long run.
Buy in Bulk
Do you ever find yourself going back and forth to the supermarket in need of hand soap, dish soap, detergent, and more? If so, stop buying smaller portions of these kinds of necessities and instead start buying in bulk. Better yet, buy generic brands and save even more. While it may feel like you’re spending a lot of money in one trip, you will definitely be saving quite a bit of money in the long run.
Reevaluate Your Cell Phone Bill
Are you spending a pretty penny on your monthly cell phone bill? If so, you might be throwing cash down the drain in the form of unnecessary features that you are paying for. Go through your next bill and take stock of things you need and things you don’t need. Also take a look and see if you could potentially cut back on how much data you are using per month and if you can potentially cut back on that as well.
These are just a few tips and tricks to get yourself on the right track financially. There are so many more and it’s up to you to look at your life and see how else you can save big. Now get out there and start saving!