Everybody wants to earn more money.
What if I tell you that saving money is as good as earning more.
If you practice even 5 of the money-saving tips listed here, it can help you save more than $500 a month. That’s equivalent to earning $6000 more per year.
Let me share some quick and easy cost-cutting tips for your home that you can do in less than an hour.
- Use public transportation. Save money on parking, fuel, maintenance. Try carpooling to work with a friend. With rideshare services like Uber, DiDi, GoCatch and Ola widely available, do you really need a car? Think about it.
- Sell Your Car. Get full market price for the car that you can use to pay down your credit card, student loan, or any other debts. No more insurance bills to pay!
- Get your home, or student debt refinanced. If you can manage to get a lower interest rate with another institution and use it to negotiate with your existing lender.
- Consolidate your existing loans to get cash or rate benefits. Signing up for an automatic debt repayment plan can also help you save.
- Scan your house for unused items that can be sold for quick cash on eBay, Face Book Market place or Gumtree. An old wood rocking chair, a pretty dress that you don’t wear or maybe that fancy snow boots that don’t fit you.
- Plan and cook your own meals. Skip eating at restaurants. Do batch cooking and freeze a portion that can be easily reheated for dinner with a freshly made side. Leftovers are great for the lunchbox too!
- Skip your daily takeout coffee or muffin for a smart and cheap homemade one. You can even pack your own snacks with it. Make your own trail mix, boil an egg and pack a bag of mixed nuts for a snack.
- Eat in-season fruits, vegetables, and meat. Apart from being widely available, they are cheaper than produce or meat that’s not in season.
- Purchase non-perishables in bulk quantities. Coupons can help save even more. Do this for items like salt, sugar, shampoo, bathing soap, or body wash. Try Costco
- Start a small garden if you have time. Microgreens, tomatoes can be grown in small pots on the balcony or even the window sill. It gives you fresh produce for dinner and sell the excess for a neat profit!
- Choose generic or store brands if you can to save dollars.
- Downgrade to a lower mobile phone plan. Choose a fast data plan option for your home use. That way, you will need data only when you are not at home. How about disconnecting your home phone and just have a mobile.
- Look out for cheaper childcare options. Try working a different shift to see if you can be home during the day -one day a week. What about an Au Pair?
- Focus on keeping children in only one activity at a time. Enrolling them in too many activities can quickly spiral out of control.
- Save money on household staff by keeping a couple of hours on the weekends for housework. Get the family involved in doing daily chores and stay fit as a bonus!
- Stop spending money on clothes. Keep a tight budget for this. Buy a few classic and high-quality pieces that can be mixed and matched to create different looks.
- Beauty can be done on a budget too. Get your hair cut, manicures, and nails done monthly instead of weekly or fortnightly.
- Do you have a consumable habit that is draining your purse? Excessive smoking and alcohol can be challenging for your health and your wallet.
- If you are renting, find a cheaper alternative to live in. Mostly sub-urban areas and places just outside city centers can be more affordable.
- Start a side-hustle. Do you have a skill that can be sold online? If you know how to sketch, do graphic design, write or even offer to consult in the area of your expertise, look at platforms such as Fiverr and Upwork.
I hope you enjoy using these ideas and save money to do something you like!
Do you have a wonderful idea for saving money? Do share it in the comments!
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