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Today’s post, “41 Tips to Save Money,” was contributed by Tina Roth. Tina is passionate about helping people to make solid financial decisions, which motivated her to start her own personal finance blog,where she writes about money management tips and frugality. She is also the community manager at the finance guest post community.
How can I save some money?
This is one of the most common questions asked by a lot of people.
Developing a habit of overspending can disrupt your whole plan of saving some money. However, in order to escape from this trap of unnecessary spending, we need to detect some effective ways to save money.
41 Effective and Easy Ways to Save Money
Undoubtedly, there are many ways to save money. The choice to pursue any of these avenues will be dependent upon your lifestyle and preferences. Just go through this amazing list to discover some effective money saving tips.
1. Turn off your Television:
This is one of the best ways to cut down a regular expense. Paying a lower electricity bill along with staying away from those provoking commercials can actually be the outcome of your decision of cutting the cable connection or switching off the TV.
2. Keep Track of Your Spending:
Think about keeping track of your spending habits, at least for a month or two. This will help you to handle your financial issues more efficiently.
Related: How to Develop a Budget
3. Switch your Bank Accounts:
If you are being charged wrongly for your bank accounts then, think about switching your account to a different bank. You can also go for a high interest online savings account.
4. Get rid of your Debt:
Get rid of the headache of paying interest by clearing all your debts. Once you have cleared all your debts then, you can save the money for your future.
5. Plan for Having Group Dinners:
If dining out is the best refreshment for you, consider going for a group dinner. It’s an amazing way to have an access to your favorite dishes at a reasonable price.
6. Improve Your Credit Score:
Improve your credit score for staying benefited. Once you have a clear conception of your position, you can think about saving some money by following the above mentioned technique.
7. Build a Habit of Cooking:
Try to build the habit of cooking at home more often. This is a unique way of staying healthy as well as saving money. For the micro family, both husband and wife should take the responsibility of cooking.
8. Cancel the Gym Membership:
Think about canceling your annual gym membership if you are not going there frequently. This is a simple way to save money with minimal effort.
9. Buy in Bulk:
Buying in bulk might cost you some more money at a time, but soon you will notice the difference in the method of your savings. Opt for buying non-perishable goods in bulk.
10. Drop all the Bad Habits:
We all have bad habits. Try to get rid of those which negatively impact your health and your wallet. Stop consuming alcohol or moderate your consumption to save some money. If you smoke, stop as soon as possible.
11. Borrow a Dress:
Instead of buying an expensive dress, consider borrowing it from a friend. If you are not planning to wear a particular dress several times, it would be better for you to not waste money on it.
12. Install a Water Meter:
Install a water meter for keeping a track of your regular usage of water. Paying an excessive amount on water bills can easily be controlled by following this unique method.
13. Be Smart with your Car:
Avoid driving aggressively to stay away from accidents. Harsh driving can also cost you extra fuel, which will affect your monthly budget planning.
14. Find a Roommate:
One of the most effective ways to save money is finding a roommate to share all your expenses. The dream of living in a separate place will easily fit within your budget by getting a roommate.
Related: Would you live in an adult dorm?
15. Start Selling your Unwanted Goods:
Stop collecting items without resale value. On the other hand, opt for selling those unused items to get some money before they lose their value completely.
16. Get a Grip on your Impulses:
Don’t forget to think twice before investing in any expensive item. This will definitely save you from indulging in any kind of impulsive purchase.
17. Use Leftovers:
Utilize your fridge-clearing days by using all the leftovers of the previous day. This is an amazing way to save some money on your meal of the day.
18. Plan your Vacations Wisely:
Instead of wasting a lot of money on your overseas trips, try to find out some incredible locations near your house to visit. The money you will save from these trips can actually be utilized later.
Related: How to Save Money on Vacations
Avail public transport system instead of owning a car. If you are not comfortable traveling by bus, you can also think about getting a bicycle.
20. Conduct Purchases from Online Sites:
It may seem a critical job for you, but do consider availing the service of online shopping forums. The yearlong discount they offer on different items can help you a lot to stick with your budget.
21. Make a List Before Shopping:
Make a list before you go out shopping. This will make you think twice before getting anything that is not on the list.
22. Use Discount Websites:
You can also think about visiting the discount websites for scoring some amazing discounts on traveling or events. In this way you would be able to save a lot of money.
23. Become a Vegetarian:
If you are really willing to drastically impact your budget and health, then think about becoming a vegetarian. You can also implement meatless meals.
24. Avoid Using Candles:
Instead of buying costly room fresheners and candles, opt for using baking soda for reducing the odor. A small container of cinnamon can also work fine.
25. Clean your House Yourself:
Avoid the luxury of employing housecleaning staffs. Try to clean your house by yourself to saving at least $100 a month.
26. Get a Grip on your Phone Bills:
If you are the one who spends a lot of time outside the home, it would be useless for you to maintain a home telephone and its bill. Also review plans for mobile phones and reduce expenses as you are able.
27. Set a Budget for Gifting:
As the season of festivity is knocking at the door, you should come up with some amazing gifting ideas. Don’t forget to set a budget before getting anything.
28. Unplug Electronic Devices:
Unplug electronic devices before leaving your home. This is an effective way to save money as those devices can consume power if you let the plugs in.
29. Repair your Clothes:
Don’t throw away your favorite shirt because of a broken button. Instead of getting a new shirt, think about repairing it.
30. Brew Your Own Coffee:
Replace your habit of drinking that daily caramel mocha and brew your own coffee. This will save you approximately $4 per day!
31. Car Pool:
Sharing a ride with your fellow worker can be a huge savings. The money you save from a car pool can definitely help you in achieving something big in the future.
32. Create a Separate Bank Account:
Think about having a separate bank account other than your savings account. It can help you in reducing the chances of borrowing money from the savings account.
33. Visit Libraries:
If you are a student or live in an area with an adequate public library, you should definitely think about borrowing books from libraries instead of buying them. This is indeed an awesome way to save money to plan your future properly.
34. Read Magazines Online:
If buying magazines is the habit you cannot escape, read them online.
35. Buy Generic Products:
Brand names are catchy, but sometimes you can find similar quality goods by shopping generic.
In order to save some money, grow your own vegetables to save on the cost of buying vegetables from the market.
37. Learn the Basics of House Maintenance:
It is very essential for you to know the basic art of maintaining a house. Try to acquire a bit of knowledge in this area, such as fixing lights, repairing walls, and painting.
38. Enjoy the Beauty of Nature:
Plan your weekend outings in beautiful parks instead of spending the evenings in fancy clubs or restaurants.
39. Buy a Water Filter:
Buying bottled water is one of the most common ways for the people to waste a lot of money. A water filter eliminates this need and helps you save money.
40. Use your Talent for Earning Extra Cash:
Maximize your skills! Starting a side business can help you earn more money, therefore increasing your ability to save.
Related: Launch Your Own Small Business
41. Opt for Leading a Healthy Life:
Leading a healthy life without any trace of bad habits like drinking or smoking is very much essential. A healthy lifestyle will save you money in the long run.
Many times we end up spending large sums of money to fulfill our whims. The solution lies in curbing our impulsive buying nature. Just follow the above mentioned techniques to cut waste and save money today!