You've probably heard the phrase, "It's not how much you make; it's how much you spend." There is truth in that witty saying, but the problem is figuring out how to spend less each day. Keep reading to learn about smart ways you can save money every day of the month.
1. Don't Purchase Anything
Pick out at least one day a week that you don't purchase anything at all. No spending is allowed on your designated spend-free days. That includes everything and anything.
2. Reinvent Last Night's Dinner
Leftovers from last night's dinner provide an easy way to create a new meal for little to no extra cost. For example, last night's leftover pot roast and veggies become tonight's stew, vegetable beef soup, or maybe pot roast tacos.
3. Brown Bag Your Lunch
Pack a healthy lunch from home to take to work a few days a week and watch your savings add up. A nutritious lunch also contributes to a healthier lifestyle for yourself.
4. Choose Free Entertainment
You don't need to spend a ton of money to have some fun. Enjoy your public parks, beaches, lakes, and nature trails, and take advantage of free admittance days to local zoos and museums.
5. Make Your Favorite Coffee
Add up the cost of your daily coffee purchases for a month, and you'll likely be surprised at the total sum. You can easily save money by brewing your favorite coffee at home to take with you.
6. Avoid Pricey Restaurants
Eating out at pricey restaurants can quickly put a huge dent in your budget. Exchange expensive restaurant dining for budget-friendly dining at alfresco cafes, charming diners, or quaint eateries.
7. Round-Up Your Purchases
Special round-up apps help you save money by rounding up your purchase to the next dollar. For example, if you buy a snack for $2.50, the app rounds the purchase up to $3.00, with the extra 50 cents transferred from your checking account to savings.
8. Slash Your Utility Costs
Slash your utility bill by switching off lights, televisions, and computers when they're not in use. Also, adjust your home's heating and air conditioning thermostat when you're sleeping or away from home to save additional dollars.
9. Avoid Multiple Shopping Trips
Multiple shopping trips during the week at online or brick-and-mortar stores typically result in increased spending. Make a list of what you need and limit your shopping excursions.
10. Look for Seasonal Bargains
By planning ahead, you can save money on seasonal bargains. For example, buying shoes, clothing, bedding, furniture, and other items when they're at end-of-season clearance prices can save you big bucks.
11. Enjoy Simple Pleasures
Sometimes life's simple pleasures can give you the most enjoyment for little to no expense. Savor a cup of coffee on your patio, relax in a warm bubble bath, or take your dog on a walk around your neighborhood.
12. Take Care of Yourself
When you take good care of yourself, you might save yourself some serious money. For example, exercise regularly, eat nutritious food, get a good night's sleep, stress less, and maintain a positive attitude. Better mental and physical health can contribute to fewer costly doctor visits and pricey medications.
13. Learn to Say No
It would help if you learned to say no to expensive sporting events, dinners, trips, and entertainment that you can't afford. By saying no to these items, you can build your savings account instead of busting your budget.
14. Resist Impulse Buying
Save yourself some cash and next-day regrets by resisting impulse buying, especially on high-ticket items. Distance yourself from the thing you want to purchase and think about it for at least a couple of days.
15. Create a Vision Board
If you can visually remind yourself of why you want to save money, you'll likely be more inspired to save. You can do this by creating a vision board. Buy a bulletin board and pin pictures of what you're saving for, such as a beach vacation, emergency fund, retirement, or a new car.
Challenge yourself to save more money beginning today. Incorporate all of the money-saving tips above to help you save more and spend less. As you see your savings grow and have the cash to purchase items on your vision board, you can enjoy the rewards of your deliberate frugality.
By BALANCE, A First Northern Credit Union partner in financial wellness