14 Brilliant And Extremely Helpful Money Saving Tips
Managing your finances can get a little bit tricky considering that most of us are creatures of emotion and not logic, we know that we shouldn't spend as much money as we do but we let our emotions take over by buying things we will never need either to prove a point or just to satisfy a deep desire we've always had. In order to get your life in order, you need a couple of tips that will help kick start that process and allow you to make better financial decisions in the future.
Whenever you feel the urge to buy a non necessity, give yourself a couple of days before you buy it. Often times, the impulse will have passed and you'll be glad to still have the money.
If you are a student - Learn to cook.
If you are working - Bring lunch to work every day. You'll save a lot of money.
When you go shopping, especially grocery shopping: make a list and stick to it. And never grocery shop on an empty stomach. Or after a busy day or week. You'll be more inclined to buy bad food and make poorer purchasing decisions
People waste a ton of money ordering food and prepared stuff. Just look up some tutorials and save some real money.
Pay your credit card off completely every month. Don't let it accumulate interest. Don't purchase things you don't have the cash for. Too many people get over their heads in credit card debt and its hard to dig yourself out at 18% interest.
I once bought a 500 pack of teabags. That was 3 years ago. I ran out this week.
Rice. That son of a bitch goes with everything.
Ask yourself if you need it or only want it.
If you want it, but don't need it. Give yourself 24 hours to decide whether it's worth purchasing.
On every payday, I move half of what I had leftover from last pay period over into my savings account. (Paying yourself first). Sometimes it's not a lot but it has added up quickly. I also add 5$ to each of my kids savings accounts every payday. They each have over $1,000 and my personal savings has just reached 5 figures. As a single mom, who has always lived paycheck to paycheck, I have surprised myself.
Potatoes. Keep plenty of them in stock - they can sit for a long time in the pantry or fridge, they're versatile, easy to cook, and filling.
I made an Excel spreadsheet to budget with. Has all my bills, what I make each month, and what to put aside to save any specific amount. So far this year alone, I've managed to save $4,000.
Make as much food as you can. Buying lunch every day at work adds up.
Look at your bank statement. Actually look at where your money goes.
Make coffee at home instead of buying it daily
A $3 Starbucks drink every day comes out to over $1,000 in one year. My dad is addicted to caffeine and we still only spend about $200 a year by making it at home
Buy dry/long life food in bulk. Want pasta? Tesco stocks it at about £2.15 for a kilo or £2.91 for three kilos. Always think in the long term, and try to spread out your shopping, i.e. buy the pasta one week when you have the money for that, and your rice the next week, when you've got the money for a 5kg sack (though obviously scaled up to include everything you need).
Staggering your purchases to buy in bulk means your weekly cost will go down and you'll get more for your money.
This was already touched upon, but meal prep. Pick a day, generally Sunday, and spend a couple hours cooking and storing everything for the next week. This also helps if you're trying to lose weight (I lost 30 lbs being cheap and planning ahead). Try to eat things from home rather than grab something quick from the deli across the street from your work, because, although it may seem cheap, it adds up really quickly.