If you are like most people, financial decisions can be stressful and so much so that we are often on a mission to try and save some additional money each year. Well, if this sounds like you and you want to try and save some money of your own – perhaps you are interested in learning about some money saving tips that are simple and easy to implement right from the get-go.
Here are 5 money saving life hacks you can do right NOW.
1. Price Checking
One relatively quick strategy you can implement when going about making any kind of purchase, involves making sure you compare the prices. For example, if you are in the market for a new television, it is a good idea to checking the pricing on the same television across a variety of stores.
Now this of course means going in and checking the prices in different stores – however it also means that you will want to compare the in-store with the online prices as well. While sometimes, we might assume that online prices will consistently be better than the in-store ones, this may not always be the case. Again, if you want to save money on the purchase of your new TV, be sure to perform a price check of online and in store price tags.
On the other hand, certain deals may only apply to online purchases and therefore you will want to compare these prices and make your final purchasing decision based on where you will end up saving the most. The message here is, don’t just jump into a purchase. With only a little bit of extra time spent – you can identify the best overall price possible.
2. Shopping Second Hand
Second on the list of money saving hacks, is another method of saving money when making purchases. This second method however involves buying items that are of the second hand variety. These days more than ever, people are realizing that buying items second hand is such a beneficial way to save money in their daily lives.
Additionally, there are so many different things we can buy second hand – so the sky really is the limit. Thrift stores and yard sales offer a variety of possessions that range from antiques to more gently used items such as electronics, clothing, children’s toys, sporting equipment and so on.
You can also shop for an array of second hand belongings through online sites such as kijiji and ebay. The online nature of buying and selling gently used items has also provided another level of convenience and diversity in terms of the types of items you can locate. Paying reduced prices can mean a huge difference in your ability to save some extra money and these types of shopping adventures can easily be actualized into your daily life.
3. Not Eating Out As Much
Yet another money saving life hack you can take advantage of is to limit the amount of times you eat out each week. Whether this means you reduce the times you eat out in a restaurant for dinner or lunch each week, or the times you purchase takeaway meals – you will be surprised at how much this can significantly reduce the amount of money you are spending.
Another simple way of saving food income on a daily basis, is to brew your own coffee in the mornings. If typically you buy a morning coffee each morning, this could add up anywhere from $10 to 30 dollars each week – money you could otherwise be saving instead towards other important necessities.
If you do want to dine out on occasion however, some methods of saving money while eating out can include, simply ordering water or sharing one large meal between two can also help reduce the size of your restaurant tab and your overall monthly food expense.
4. Carpooling to Work
A fourth tip to help you get into more of a money savings routine is opting to share the driving responsibilities with friends, family and coworkers. The art of carpooling has been a long standing and effective method of saving money, not to mention a more environmentally conscious mode of travel.
If carpooling to work is an option for you – then you are also likely to be surprised at the amount of money you can save on gas. Using your own vehicle only some of time can also lessen the wear and tear on your own car – and maintenance costs may also be lower for you over time.
By reducing the amount of vehicles on our roads, road congestion can be somewhat improved – and gas emissions slightly lower too. Ultimately, the benefits of carpooling can be numerous and keeping more money in your wallet can be at the top of that list.
5. Leaving Credit Cards at Home
Finally, while this last money saving hack may seem less obtainable than the others, it actually can be easier to implement than one might think. By simply removing your credit cards from your wallet when you go out shopping, you are lessening your chances of being drawn towards impulse buying – and of course overspending. Since credit cards are one of leading ways in which we are enabling ourselves to spend beyond our means – this life hack is a big one.
Therefore, by leaving your credit cards at home, the temptation to spend beyond our means is more easily avoided. Subsequently, you can also choose to only use cash when making purchases and that way you know you are only spending what you have. Only taking some cash with you can be a good way to save on top of that – as you are also not reaching for your interact card and withdrawing or spending more than you have been budgeting for.
While saving money and/or only spending within our means can be so much more challenging than what we sometimes expect, and because of this it is even more vital that we are more prepared for this reality.
By following these simple, yet effective money saving life hacks, as well as other you may think of – you can improve your ability to save a bit more money each week and each month. In the long-run you are also likely to notice a chance in the amount you are saving – and the more you can stick to these spending/saving patterns – the more of a lifestyle habit they can become.