Saving money is always on my mind and one of the hardest to maintain throughout the year. As simple as it may sound, saving money is one of the most challenging when it comes to keeping up with our personal finances. To help you start saving this year, here are 40 ways to save money that work!
We talked about saving money, a lot, on this blog; and if saving money was so easy, we wouldn’t be in such financial messes in this country. We are more focused on spending money than saving money it seems at the moment; and if any of these 40 ways to save money inspire you and helps you to save, then our job here is done.
The truth is that we have about covered every way to save money here, and it seems that as the year passes, new ideas to help you save money just keep coming. Just this year, we started using Digit to help grow our savings, and we simply love it.
Money not saved will cost you more money.
Like stated above, if you don’t have the funds to pay for an emergency, it could cost you more money. Not having money to fix your car, you decided to charge it to your credit card. Credit cards will charge you an outrageous amount of interest if is not paid in full that month.
If you don’t use your credit card and use a cash advance place, you will pay fees and interests as well. If you decided not to pay one of your bills and use that money to pay for your car service bill, you would pay a late fee for not paying your bill one time. There is even a service reinstated fee for having your service shut off due to no payment.
Do you see the effects of not saving money? Credit cards, cash loan services, and not paying your bills are not ways to pay for emergencies. The money that you have saved is what you need to pay for your emergencies. No extra cost at all, and no stress!
Peace of Mind
Knowing that you have money saved will reduce your stress level. No more worrying about how you are going to afford for that unwanted emergency (like that noise in your car's engine that is quickly getting worse). As you save money, your stress level will go down because you know you have the money to cover it.
When you save money, you have more control of your life. I didn’t enjoy my job, and I wanted to stay at home with my kids. We had enough money saved that when I had to quit my job, we knew we would be OK because we had the funds to helps us get to the next chapter of our lives.
You can control your money and not let money control you. Fast forward to today and I work from home, and every time we continue to save, we tell our money where to go; not the other way around.
Now that you know why saving money is important, I hope you get inspired with these 40 ways to save money that will work!
- Live by the adage: Use it up, wear it out, make it do, or do without
- Budget – track every single dime you spend
- Buy used
- Don’t buy it on sale if you don’t need it
- Scrape containers for the last bit
- Pay all bills on time.
- Avoid impulse buying; wait 3 days before buying anything
- Coupon, shop around for the best deals
- Maintain your things
- Avoid buying coffee
- Pack lunch
- Utilize leftovers
- Cook at home
- Freeze meals
- Buy in bulk
- Buy generic
- Create a shopping list; stick to it
- Don’t go grocery shopping hungry
- Replace soda with water
- DIY soap, laundry detergent, and dishwashing soap
- Cut cable
- Cut music subscriptions; try Pandora, Amazon music, or iTunes radio
- Cancel gym memberships; try at-home workouts
- Get magazines at your local library instead of buying them
- Rent movies from the library instead of buying them
- Find free or money-making hobbies
- Never buy toys new
- Plan gift giving ahead of time
- Turn holed jeans into shorts
- Resell unused clothing
- Learn how to sew buttons
- Buy clothing used
- Shop clearance racks
- Find discount chains
- Shop out of season
- Avoid fads and trends
- Keep your wardrobe flexible for a mix-and-match
- Avoid spending temptations (people, locations, websites)
- Enjoy living in financial security!