You have been wanting to save more money but don’t know where and how to start. We are here to tell you that the smallest changes can make a big difference in achieving goals, including saving more money.
Without further ado, let us jump into the list of three simple ways to save more money.
Set Up Automatic Transfers
As a starting tip, you should set up automatic transfers to your savings account every month. This way, you can accumulate savings over time without having to think about it. You can specifically leverage this method if you want to dedicate your savings account to helping you reach specific goals, such as buying a car or a house.
Speaking of a house, if you want to save more money, it might be in your best interest to rent an apartment instead of owning a house. This aspect is specifically true if you want to live in a big city and save money to invest in personal and professional growth.
Let us say you want to live in Pasadena, California; in this case, you might want to opt for Pasadena housing (short term), which will enable you to save money and enjoy the perks of high city life. You get the point – you will want to be mindful of where and how you spend your money so that you can mindfully save money and reach your life goals.
Plan Your Grocery Shopping
You will be surprised to know how much the average American spends on groceries weekly. A little planning before you hit the grocery store can go a long way toward avoiding overspending and saving money. Before you go grocery shopping, you will want to check your fridge and pantry to ensure that you are only buying the things that you really need.
You can also maximize your savings by joining loyalty programs and getting coupons. Your local grocery stores might also offer you discounts in exchange for your phone number and address.
If you shop for groceries online, you can leverage cash-back opportunities and earn some extra cash on your purchases. You can also use a weekly meal plan to avoid impulsive shopping and ensure that you are only buying the ingredients that you really need.
Delimit Online Shopping
Most people opt for impulsive buying when they shop online by spending money on things they don’t need. If you are prone to impulsive buying, there are several things you can do to establish some restrictions, such as avoiding saving your billing information.
If you opt to enter your credit card number information every time you are about to order something online, you are less likely to follow through. Also, it is in your best interest to delete your online shopping apps from your phone.
Another tip that can save you more money and prevent overspending is to follow the 30-day rule of purchase. Every time something catches your attention that you want to buy, you will give yourself a 30-day cooling-off period. The chances are high that you wouldn’t want to buy that item anymore as you will give yourself some time to think about it.
