š§āš7 Clever Ways to Save Money: Start saving more today
Saving money is an art and you would think that you have mastered it. Letās dive into these seven clever ways to save money and see how many of these you have already mastered. You might know how to save, and these tips might look old but unless you act on them you wonāt be able to save significantly. So, if you are to act now and start saving for your much needed wants and goals, read on.
1ļøā£ The "Invisible Money" Trick: Money Automation
The most effective way of saving your money is by making it invisible. Like a hidden room in your home, start hiding your money by automating it into different categories like essentials, emergencies, debt payments, retirement, etc. Have a dedicated account for spending putting only the money that you need to spend a month by budgeting.
šBenefits:
- Easy to set up.
- You do it only once and adjust periodically.
- Gets rid of the temptation to spend money if you donāt see it in just one account.
- Ā
"Automating your savings is like giving a gift to your future self."
2ļøā£ Turn your Grocery Shopping into a Game
Grocery shopping can be overwhelming but itās one of those things nobody can skip. So why not make it fun? Here are a few of my tricks that have helped me to save on grocery shopping.
šTips:
- Make a list before you go shopping to avoid impulse purchases.
- Donāt go grocery shopping when I am hungry.
- Shop around, compare prices, and buy certain stuff where itās cheaper.
- Look for sales, and coupons, and bring reusable bags.
- Shopping at night sometimes can help to get reduced prices.
- Use grocery shopping apps like Publix, Aldi, and Samās Club to earn points and save on your next purchases.
"A penny saved is a penny earned, especially at the grocery store.ā
3ļøā£ Time to Unsubscribe [can save you a bunch]
If you look at your statements and see any recurring subscriptions that you havenāt used in a while, then STOP and just end the subscription. These recurring costs can make a big hole in the long run. You would be surprised how much you can save.
šHow to Audit:
- Open your bank statements now. Literally! look for recurring payments.
- Cancel those subscriptions and you can always subscribe back if you truly are missing anything.
"Small streams make big rivers. Unsubscribe from unused subscriptions and watch your savings flow.ā
4ļøā£Control your impulse purchases: The 48-Hour Rule
You see an advertisement on social media and you think, your life will be so awesome if you buy that thing, you want it, you must have it. Next thing you know you have spent 100s of dollars on such impulse purchases and that shiny important thing occupies your garage and your mental space.
There is a well-known way to control impulse purchases. Apply a 48-hour rule on such non-essential purchases. Wait for 48 hours before you make that purchase, if you still remember what you were supposed to buy, and you must have it after 2 days then go for it.
"He who buys what he does not need, steals from himself."
5ļøā£Why not DIY?
Learn something new that can save you money. I have been learning basic home repairs since we purchased the house and I am sure we have saved thousands doing it. To give an example, I learned how to wall mount a TV which costs around 100 to 200 dollars.
You can start with small projects and these DIYs will turn eventually into complex projects and save you a lot. You can learn anything and everything these days on YouTube.
šResources:
- YouTube tutorials
- Free community workshops
"He who buys what he does not need, steals from himself."
6ļøā£Reduce, Reuse, Recycle
We have one planet, one earth, and one life to live. Why not make it sustainable for all of us? What if you could save some money while doing it?
Tips:
- Take your shopping bags to grocery shopping to avoid bag charges and reduce plastic.
- Take your water bottle from home to the office.
- Sell your old stuff that you no longer need.
"Reduce, reuse, refill your wallet. Sustainable living goes easy on the planet and your pockets.ā
7ļøā£Start saying āNOā
How often do you say NO to yourself and others just to avoid the hard conversation? Say NO to unnecessary purchases, say no to Friday outings that you donāt like, and say no to outside food that you donāt enjoy. The list can go on. Saying no isnāt impolite itās prioritizing your financial success above anything. Itās part of growing up.
"If you're not saying 'no' to most things, you're not focusing on the things that really matter."
šConclusion: The Path to Passive Prosperity
Saving money is an art and hopefully, you understand why now. Saving money is a habit. Saving money isnāt about cutting back and living on beans. Saving money is about saying yes to financial success. Start applying these clever money-saving ideas and let me know how much money you save over time.
What's Next: take action today šÆ
- Analyze your habits: 5 Daily Financial Habits that will Certainly Make You Richer
- Cut your Expenses:Ā Money-Saving Hacks: 4 Creative Ways to Cut Expenses
- 10 Money Saving Hacks: 10 Hacks to Save Time and Money: Proven Strategies You Need
- Need Inspiration to Save:Ā Top 10 Quotes on Saving Money
