Saving money is something that we all want to do but sometimes this is a distant dream that we never quite reach. However, with a few small lifestyle changes and a simple mindset shift, you can quickly start setting and achieving your saving goals. Here are 10 easy money-saving hacks. You don’t have to follow every single tip; you can simply incorporate a few into your new minimalist approach to saving.
- Cut Back on Takeaways: Spending on food and beverages can easily rack up without you even realising. However, by cutting back on daily coffee or lunch orders, you can save a lot faster. Instead of going cold turkey, give yourself one day a week where you’re allowed to order out, but for the rest, make coffee and lunch at home.
- Unsubscribe from Promo Emails: Promotional emails are super tempting – it’s hard to resist 20% off your favourite brand. So, to avoid making impulse purchases, unsubscribe from email notifications. You can search for voucher codes when you really need to buy something online!.
- Cancel Any Subscriptions: Are you subscribed to your favourite magazine, a fitness app or a handful of TV services? If so, take a closer look at your subscriptions and cancel anything that you don’t use and that’s not a necessity. For example, if you’re paying for cable and Netflix, you can easily get rid of one of the two.
- Plan Your Meals Meal: Planning is one of the best ways to save money and stick to a budget. By planning your meals, you will make specific purchases, and you won’t end up buying things that you don’t need and that will eventually go to waste.
- Take Staycations: Instead of splashing out on lavish holidays abroad, take staycations when you’re trying to save, it’ll take the cost out of paying for expensive flights and hotels. You can do touristic things in your own country and still feel like you’ve had a break.
- Cut Back on Electricity Consumption: You’re probably using a lot of unnecessary electricity consumption without even realising it. To save on your high bills, switch to LED lights and turn off appliances and switches when they are not in use. In addition, try switching to an Instant Pot or slow cooker instead of using the hob and oven.
- Invest in a High-Yield Savings Account: Getting smart with your savings also involves opening a savings account with a high-interest rate. Depending on your preferences, you can open a fixed deposit account which doesn’t allow you to break the account for a certain period of time. That said, this type of account gives you a higher return on your money.
- Save Your Spare Change: Spare change can easily mount up without you realising it. So, whenever you have some change, place it in a piggy bank at home and check how much you have accumulated over a few months. That said, some apps also allow you to do this with online spending. For example, when using Revolut, you can select an option that’ll automatically save your spare change for you.
- Use Cashback Sites: Cashback sites are a great way to earn some extra money when placing orders online. All you need to do is find a website in your country and use their link to refer you to the site that you’d like to make your purchase. Following your transaction, you’ll then receive cashback based on the order that you made.
- Give Yourself a Weekly Cash Allowance: It’s easy to overspend when you’re using your card. So, an easy hack to follow is to give yourself a cash allowance every week for daily spending like food shopping, eating out and petrol. That way, once your money is out, you can’t tap into any other cash until the following week.
So, now that you have these tips, you can easily start your money-saving journey with a strict budget and minimal spending.