Now, is the perfect time to make adjustments to your spending habits. Read these money saving tips and implement one or all of these strategies today.
Let’s face it, we’ve all been there at least one time in our lives. I certainly know I have. But instead of weaving in and out of spending money without much thought, to tightening your belt to restrict your spending, why not just live a more balanced life?
When finances can be incorporated into the rhythm of life you spare yourself from the feast or famine approach you continually find yourself in the midst of.
MONEY SAVING TIPS
First, you will want to ponder where does the majority of your money go each month? Is it for housing, food, car etc.? Addressing your biggest bill first will have the largest impact overall.
For example, if your housing cost is taking 75% of your income and there is no money left for food then begin there by moving to a cheaper house or apartment. Moving away from major metropolitan areas has always proven to be cheaper.
Second, look at the suggestions below to see how you can lower your expenditures and have more money left in your pocket at the end of each month. This may even spark some of your own ideas to implement.
Third, if you cannot tackle the biggest fish first so to speak, then there are still plenty of options that you can begin utilizing today to save money each month.
MONEY SAVING TIPS BY CATEGORY
HOME
Downsize – move to cheaper residence
Fix items around the house rather than buy new. This will extend their life.
Turn down your thermostat at night and add another blanket or two to the bed
Use air dry on your dishwasher instead of heat dry
Stop using florescent light bulbs. They actually use more electricity when they are regularly turned off when leaving the room. And when using florescent tube lights the ballasts quickly burn out with the frequent on and off.
Switch instead to the old-fashioned incandescent lightbulbs if you turn lights off when leaving a room. Florescent light bulbs must be left on for long periods of time or you will see your electric bill rise. Keep in mind too, that florescent light bulbs also contain mercury a toxic heavy metal.
Repurpose items you already have. This works well when you want to redecorate. Look around your house and see what you can find that’s not being used at all or that you can use in a different way. I moved a piece of furniture that was not being used to the porch where now it has functionality. Or, an old whipping attachment to an electric mixer can be attached to the end of a drill for soap making. Even a half gallon cardboard milk carton can be used in soap making.
LAUNDRY
Make laundry soap and dishwasher soap instead of buying it. This will require that supplies be purchased, however they will last through several batches making the soap cost effective.
Hang laundry outside to dry whenever you can and make an inside drying place for the rest of the year. If you have a heated area next to your furnace that is an ideal spot to string a few clotheslines up to hang a load of laundry during the winter months. The wet clothes will add moisture to the dry winter air too.
ELECTRONICS
Cancel all services that are not required for survival in some way, i.e. Netflix, Hulu, cable tv etc. However, keeping internet connection can create work streams and is a place for researching quality information if you dig deep enough.
Get a cheaper cell phone plan
Get a cheaper cell phone
FOOD/GARDEN – FARMS
Stop buying food and drink from fast food places opting to make your own instead
Grow part of your own food ie sprouts, microgreens, herbs and lettuce are an easy start with limited space and can be grown indoors.
Save the seeds from some of your heirloom grown vegetables to eliminate the need to purchase some/all of your seeds.
Support local farmers or perhaps trade your service for fresh meat, produce or eggs. Trading can come in the form of an even swap of different goods better known as bartering, helping with farm work – labor, setting up a working webpage for the farm, marketing his goods for him or helping with home deliveries.
FOOD/GROCERY
Grocery shop using the weekly sales advertisement i.e., front page of store flyer, the rest of this paper is regular priced items. Plan your meals for the week around these sales.
Try to buy 1 extra sale item. So, if ground beef is on sale for $2.00 per pound then purchase 2 pounds. This will be one for now and one for later. This is a simple way to stock your freezer, cupboards and pantry with real food that will be there when more dire times arise. If you can afford to purchase two or three items instead of one, then you will increase your stores that much quicker.
Instead of buying pre-packaged items such as shredded cheese, opt instead to buy a large block of cheese such as mozzarella and grate your own. You will have the option of how much you want to freeze in each Ziploc freezer bag and overall, you will save money.
FOOD/FROM SCRATCH
Make your own soup from scratch. Cook down bones left from your roasted chicken dinner to create a rich bone broth. Once broth is finished add veggies and bits of leftover meat and you now have another yet hardy meal that is also very nutritious.
Make cookies, quick breads, muffins and cakes from scratch. These can easily be frozen and be at the ready for whenever you need them. Just remove from freezer prior to when you want them so they have ample time to defrost.
When making dinner, you can make enough for two dinners. Eat one now and freeze one for another week. This won’t take hardly any extra time on your part but will give you that extra meal when you just don’t have time or feel much like cooking. It is an easy way to add healthy homemade freezer meals.
CLOTHING
Purchase clothes second hand
Accept hand-me-downs
Make alterations and hem clothes rather than bring to a seamstress.
PERSONAL CARE
Make bath soap, tooth cleaner, and deodorant instead of buying them
Use a menstrual cup instead of tampons and pads. Find out more here.
Use a double edge safety razor. You can buy them online here. This turns out to be cheaper in the long run.
Make the personal care products you use instead of buying them
CAR
Purchase an older car, a cheaper car or a smaller car
Shop around for cheaper car insurance while still maintaining or increasing existing coverage
Shop around for cheaper homeowner’s insurance while still maintaining or increasing existing coverage
MISCELLANEOUS
Pay off the credit card with the highest interest rate first, then the next highest interest rate and so on until they are all paid off. The money saved from paying the first credit card off can be used to pay towards the next credit card. This method makes paying subsequent credit debt go faster. It’s like having a snowball effect.
Run errands when you are in the vicinity. For example, if you pass the grocery store on your way home from work, then grocery shop on your way home rather than to come home and go back out again. This saves both your time and your money in gas costs. For more than one stop, think about completing your errands in a loop. This will prevent backtracking which is another time and money waster.
Make gifts instead of buying. This can also be a gift of service. If an accountant you could offer help with tax filing. If a gardener offer plants you started or seeds you have dried. You could also offer a service of watching children to give the mom a few hours of alone time or you could offer to clean house. There are many possibilities when you use your imagination.
Borrow tools instead of buying them
Borrow books instead of buying them
Sell items that you no longer need or use
Use these 38 money saving tips to springboard positive change in your life.
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