There are so many strategies that we could all implement that would make us just a little bit better at saving money. That is why we rounded up all of our favorite money saving hacks. We could all do better by implementing just a few of these into our daily lives.
1. Automate your savings
Take the work out of savings by automatically placing money in a savings account. It doesn’t matter how much. Just set aside a certain amount every month. It will add up, and before you know it, you won’t even miss the funds.
The great thing about online savings accounts is that they normally offer much higher interest than bank-based accounts!
But the best thing is that you won’t be tempted to spend what you set aside because it’ll be out of your reach!
2. Create a monthly budget
Ok, so maybe it’s not really a saving hack, at least at first glance. It’s true, though, that you can’t save if you don’t have any idea of where your money is going. So, first things first, you’ve got to get a budget.
If the idea of setting up a budget sounds about as fun as finding your receipts to give to your accountant, relax. There are easy ways to start tracking your money!
All you have to do is find a tool that works for you. You can use your own spreadsheet (or download my intentional budget system).
But if you love technology, there are plenty of apps that can help you!
3. No-spend challenge
A no-spend challenge is truly a wonderful financial hacks. Yes, you will clearly save money if you aren’t spending. But more than that, a no-spend challenge can completely reshape your relationship to money! Try to go from constantly buying – like shopping sprees every week, sometimes multiple times a week – to learning how to shop with a purpose. This will allow you to reduce clutter around the house, become more eco-friendly, and watch your wealth grow.
4. Unsubscribe from lists
We are constantly being sold to today and one of the few places we have control over what we see is our inbox. Hit the “unsubscribe” button from all those pesky store emails. Because, let’s be honest, if it’s their biggest sale of the season every single week, is it really ever a sale?
5. Become financially literate
If you want to transform your life, personal finance books are the right way to start. By learning how to manage your money the right way, you will start to feel in control of your life. Money might not buy you happiness, but in modern society, being poor isn’t great either.
Once you know how to manage your money, pay off your debt and invest your savings, you might not be happy, but you will have financial security, which will give you more freedom for more important things in life: health, love, friends, family and personal growth.
6. Read Your Card Statements Thoroughly Every Month
So many people don’t read their credit card and debit card charges thoroughly every month. Not doing that means you could mistakes charges that are costing you money. It also means you might miss recurring charges that are costing you money unnecessarily. Make it a point to read your statements every month, and you’ll be sure to save money over time.
7. Clear Your Browsing History
You can save a lot of money if you just remember to clear your cache and browser history before you buy something. Companies your searches based on your cache and history and often raise prices with this information. Particularly with airline tickets you can save a lot of money just doing this one thing regularly.
8. Walk, Bike, Carpool
Try and choose the transportation method that is going to cost you the least amount of money. If you live close to work, opt to walk or bike rather than taking your car and spending gas money. If that’s not an option, why not carpool with some co-workers. The savings will start to add up almost immediately.
9. Make Buying In Bulk Your Thing
It may not seem intuitive, but the more of an item that you buy, the less you are going to end up paying in the long run. Get yourself a Costco membership, or a membership to another wholesaler, and take advantage of buying in bulk. Live in a small space? Partner up with a few friends to go in on buying bulk toilet paper, chips, and more to reap these savings.
10. Use professionals
The road to financial freedom does not have to be hard and lonely. Whether it’s hiring a cleaning person so you can spend more time on your side hustle or using Jeton Wallet’s low cost transfer services using proffessional services is essential on the road to financial freedom.
Jeton allows users to exchange money, make secure money transfers and online purchases. The better way to send money to those you love; simpler, faster, and safer.