There is a ton of ways to save money out there, but many of them require extra investment or additional tools. Yet, there are some easy ways you can save every day, such as just by making your own decisions instead of following TV commercials.
Follow these tips and save tons of money without using any other resources but your own brainpower.
1. Be careful with all the “small expenses”
While being careful over large purchases, we all tend to recklessly spend small amounts of money with little or no purpose at all.
Yet, all these small expenses can add up over time to a considerable sum.
Make a point of watching those daily cupcakes or other small impulse buys and you will notice your bank statements show extra funds.
2. Never buy things just to impress other people
No matter how much you think your friends or neighbors may be impressed by you buys, this is a good area where you can limit your spending. Do you really want people to like you for things you own? And why would you buy things to impress people you don’t even like?
3. Buy refurbished or like-new items online
If you do need to buy something, try checking Ebay, Amazon or other sites for this item in like-new or refurbished condition. You will get the item you want, which will usually look and work like new, but at a significant discount.
4. Repair rather than replace
It isn’t always necessary to buy new things: oftentimes we do it just to make an impression or because it seems easier. In the meantime, you can search the web for directions to fixing almost anything you own.
Moreover, in a lot of cases you just want to buy something new because what you have seems old to you or you are simply tired of it. It may not occur to you that you could refinish furniture and update other household or personal items to make them look new. And the satisfaction of making something with your own hands can be an added bonus.
5. Remember good ol’ comparison shopping
When you finally decide you really need to buy something, don’t forget to compare prices from different sellers. This gives you a chance to find a better deal and only takes seconds with the right tools or just a simple Google search. With the number of online shops available today this is a sure way to knock off a few bucks.
6. Do not buy things just because they are on sale
Half-price tags are flashy, but you should learn to resist them. Don’t you usually buy those items, but never use them afterwards? Think hard before buying a sale item and buy it only if you would have needed it even if it weren’t discounted.
7. Tame your impulse
When feeling like totally grabbing that cute thing with a discount tag or buying something “just because” – try self-enforcing a waiting period (say, a week or at least a few hours) to see if you still want the item afterwards.
8. Don’t hesitate to ask
If you don’t see the price on something – ask the seller or you may be in for a surprise when you review your receipt later. If you want a better interest rate on your credit card – ask and reason! If you want a better deal on a car – well, you know it – ask!
9. Stop spending money to make yourself feel better
In most cases you won’t. But if you’re in a desperate need of some “mall therapy”, pinpoint an item you really need (or maybe a gift you will need to get for someone’s upcoming birthday), decide how much you can spend on it and enjoy your mall time.
10. Cut down on eating out
Truth is – most of the time your dinner out won’t be as good as a home-cooked meal. And besides, cooking is cheaper, will never make you feel bloated, and with proper planning can actually improve your health!
11. Educate yourself
Google “personal finance blogs” and open yourself to a world of financial knowledge with legions of experienced people eager to help you with your finances.
12. Don’t wait for the end of the month to check on your finances
Most of your bills should not be end-of-the-moth surprises. Use online banking and any number of budgeting apps (or plain pen and paper) to continually keep track of your expenses and curb your spending before it puts you in the red.
13. Read your bills
Every bill you get (online or in the mail) contains valuable information on your spending patterns and fees you are charged. Some of them might surprise you or even be absolutely unnecessary.
Take a moment to look through your bills. Sure, it might take some time, but it will let you paint a good picture of how you actually spend your money.
Got a service you rarely use or forgot about? Cancel the subscription! Banking service extras you do not use? Cancel them with your bank! See purchases you never meant to happen? Maybe it’s time to revisit the first 12 tips above.
And don’t ever be afraid to call up the bank or company that’s charging you unnecessary fees – in most cases they would rather not charge you than lose a customer. Cutting such fees here and there may add up to significant savings.
Follow these simple tips and you will see your financial situation take a turn for the better. We hope this information helps you save a ton over the next year!