Who doesn’t want to save money? This is a goal that is probably on everyone’s priority list, no matter how many zeros you have in your bank account. Follow these simple tips to make sure you’re keeping on track of your hard earned cash.
Eat/drink at home
This is one you probably always hear, because it’s true! For the price of one takeout meal, you could cook several meals at home. This also applies to coffee/tea and alcohol. It takes the same amount of time, or even less, to make your own coffee or tea in the morning as it does to go to a coffee shop. If you’re planning a night out, have drinks at home instead (or at least start at home).
Manage your accounts/subscriptions
How many monthly subscriptions are you signed up for, and how many of them do you actually use? Be sure to cancel anything you’re not using so you’re not throwing money away for nothing. Even if you’re genuinely using all of your accounts, try and find a friend or partner to share with. This is especially great for services like Netflix and Spotify.
Shop on sale
You can sign up to your favorite stores and find out when their sales are. You’ll never have to buy anything at full price again! Ok, maybe not never, but you always save when you shop on sale.
Avoid unnecessary purchases
That being said, avoid the ‘but it’s on sale’ mentality. The goal is to buy things you genuinely need at a discount, not stock up on random things you don’t really need just because they’re on sale. If you need to, stick to a strict shopping list and never buy anything extra.
Hang out with friends/family at home
If you’re meeting up with someone just to chat, invite them over instead of going to a coffee shop or restaurant. It’s about quality time more than anything, right? If you did want to eat/drink, impress them with a homemade recipe. They’ll appreciate that more anyway!
Travel during the off-season (if possible)
Travel is one of the greatest joys in life, but in can also be one of the most expensive. If you’re not restricted as to when you can go on vacation, always go during the off-season. Flights and accommodation will be significantly cheaper. Each location has its own off-season, so pick a place and research from there. Besides saving money, you’ll also avoid massive crowds of tourists so it’s a win-win.
Live within your means
We don’t mean you should live like a pauper, but you definitely shouldn’t be spending all that you earn (or more than you earn). This might mean moving to a suburb or living with a roommate instead of on your own in the city centre, at least until you get that raise you deserve.
Open up a savings account if you don’t have one already. Many banks make it very easy and automatically transfer money into it. It also helps to monitor your spending by keeping a budget and tracking your expenses. Nowadays there are plenty of apps that make it easy.