Let’s face it—these days, it’s so much better to be a saver than to be a spender. And in order to survive the daily financial grind, it’s best to take a step back and to find ways to save money. You’d be surprised that essentially, all it takes are small steps and adjustments to your daily routine.
Don’t believe us? Try following these money-saving tips to see for yourself. Before you know it, you’d have more than enough in your bank account for the long term.
Save on your Household Expenses
If you have a regular 9-5 job, then chances are, you don’t spend most of your time at home—so why is it still taking up too much of your budget? Here are some housekeeping tips that you have to keep in mind for an efficient home:
- Shop with a list and spend as little time as possible inside a store – wandering around without purpose increases your tendency to shop.
- Hold off on calls that you can otherwise make during off-peak hours at the evening.
- Take advantage of natural lighting to get your work done.
- Do your laundry and use hot water in the evenings.
- Cook food that’s enough to be consumed for several meals.
Save on food
No, you don’t have to starve yourself or live on oatmeal for the rest of your life in order to save money from food. You just have to be more judicious in your choices and to not waste the resources you have. You can start off with these tips:
- Invest on a coffee maker instead of buying specialty coffee everyday on your way to work.
- Keep tabs on what’s in your refrigerator—this lets you know which food items are near expiry already.
- Thirsty? Bring a water bottle wherever you go.
- Stock up on proteins (meat, soy products, etc.) as these will tide you over for longer.
- Choose stainless steel silverware instead of glass or plastic as these usually last longer.
Save on Fun
We all want to unwind after a long day’s work – and with these suggestions, you can relax and not worry about being way over budget:
- Check out the selection of books, DVDs and audiobooks in your community library—you’d be surprised.
- Wait for the DVD release of a movie instead of splurging for tickets.
- Schedule movie screenings right in the comfort of your living room
- Gather your musically inclined friends for a sing-off.
Save on Fashion
You don’t have to wear designer clothing from head to toe in order to be fashionable. You just have to have a discerning eye and a keen sense of what works for your body type, coloring and overall personality.
- Vintage clothes are in! Visit second-hand thrift stores to see unique and pre-loved fashion finds.
- Revisit your closet and create new outfits from old clothes you’ve stopped wearing a long time ago.
- Shop online whenever possible so you save on gas and take advantage of free shipping costs.
- Use cash coupons and bank rewards whenever you can.
Save on the Basics
Amid the small adjustments you make on your daily routine, don’t forget to know the basics of personal finance, investing and budgeting.
Yes, it can be hard to save during; but it really doesn’t matter if you start off with as small as $10 a month. Aside from saving, it’s also a good idea to start looking for ways to make your money work for you. Doing research about mutual funds, stocks, bonds and the like is a good place to start.
You should also get a copy of your credit report to know your credit score(and how good or bad it is).This score –ranging from 300-800— is an indicator of whether or not you’re a safe credit risk.
At the end of the day, saving money and managing finances is all about discipline. With a slight change in your financial habits, you can look forward to hassle-free finances in no time!