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Are you looking for ways to save money in your everyday life?
Do you wish that just a few small changes could make a big difference to your budget?
If so, then look no further – we’ve got the ultimate round-up of clever and easy-to-implement life hacks that can help boost your savings!
From making the most of online discounts to bulk buying household staples, there are plenty of simple strategies available that will help you manage your finances better.
Here, we discover our top 14 tips for cutting costs while maintaining a high quality of living.
1. Make Your Meals
Eating out is one of the enormous money drains. You might think it’s just a few dollars, but little drops make an ocean.
If you ever get to the math and realize how much you spend daily on food, if you’re the type who enjoys eating out , you’d be surprised at how much of your money you’ve been wasting.
Try making your meals; this way, you can have them to your taste and save money.
2. Eat Before Shopping, Not After
Before you set foot in a store, grab a snack or meal to fill your stomach.
Shopping while hungry leads to overspending as you’re more likely to be tempted by unhealthy convenience foods and impulse purchases.
Once you’ve had a bite, it’s time for the real work: assessing how much of each item is actually necessary for your life.
Going in with an empty stomach increases the chances that you’ll buy more than needed.
3. Children’s Sizes To The Rescue
Most times, dresses and shoes come cheaper in children’s sizes.
This may seem like a funny tip, but it will save you some bucks, up to $50, and that’s what we’re after.
If you’re on the small side, consider buying shoes and other items in children’s sizes.
I had one or two pajamas in children’s sizes and saved some money from them!
4. Think Like A Butcher, Save Like A Boss
Buying small quantities might seem safe, but it costs more than bulk buying.
Purchase foodstuff in large quantities, especially meat.
You can always freeze and thaw when you need to.
5. Convince Yourself You’re Broke
There is the belief that if a person grows up in a poor background, even when they become rich or comfortable, they never really feel like they have money because their minds have been conditioned that way.
That mentality is handy sometimes, even though we all need to strike a balance.
When you cannot stop spending money, consider transferring your money to a savings account and convince yourself that you’ve reached the end of the road.
6. Marry The Right Person
This may seem unrelated, but marrying the right person makes all the difference to your finances.
They won’t squander your money, put you under unnecessary pressure to constantly “prove” your love through costly means, and advise you to make the wrong decisions financially.
Also, by marrying the right person, you save those precious bucks you would spend on therapy.
7. The Self-Interrogation
Finally, someone shares one way they convince themselves against making a frivolous purchase by self-interrogating.
They ask themselves if it is worth an hour or ten hours of their time and if they would be happy if they worked and their employer gave them the item or service instead of a paycheck for the time it was worth.
Most times, the answer is no. So, the next time you’re tempted to make an impulse buy, ask yourself those questions.
8. Use Coupons
They are God’s gift to humanity, why would you throw them away? No, they don’t make you cheap.
Almost every store offers coupons to their customers to entice them into steady patronage.
But with coupons, everyone wins.
They get your patronage, and you get their product or service cheaper.
Use coupons, especially in the grocery store, and save your hard-earned money.
9. Drink Water
There are a thousand and one ways your body benefits from drinking water, and they cannot be overemphasized.
Drinking water saves you from many unknown illnesses.
Not only does it protect the present you from being subject to some sickness, but it also protects the future you.
No one wants to pour their entire fortune into medical bills, so drink water as frequently as possible.
10. Sit On Impulse Thoughts
Impulsive purchases are one of the quickest ways to go broke, and one of the strongest urges to deny. However, let the fear of growing broke or wasting money be stronger.
When you come across something you like but don’t really need, instead of just hopping on the offer and purchasing, sit on it for a while.
Sleep over it. It’ll help you make a better decision.
11. Research Before Purchase
It is the easiest thing to do to buy a product because it looks pretty or because someone you know uses it and has good results.
However, remember that two people can use the same product and get different results.
So before purchasing or investing in anything, research it and ensure you know what you’re getting into.
12. Cut Your Own Hair
This may sound intimidating, but if you have the time and patience to practice this skill, it can save you a lot of money.
You don’t need professional scissors or fancy equipment; just grab some clippers and YouTube videos for guidance!
With a bit of practice, you’ll be cutting your own hair like a pro in no time. And even better, you won’t be racking up expensive salon bills every month.
By learning how to cut your own hair, you can save yourself a lot of money in the long run.
Plus, it’s so much more convenient! No waiting around for appointments or rushing to get there on time.
13. Automate Your Savings
Just as you automate your bills and expenses, automate your savings.
Automatic transfers are one of the simplest and most effective ways to build wealth.
Set up a separate account for saving and have a certain amount transferred out of your checking account into this savings account automatically each month.
That way, money will be safely tucked away before it even can be spent!
14. Invest in Real Estate
Real estate is one of the most powerful wealth-building tools out there.
Real estate investment can generate incredible returns and provide consistent passive income if done correctly.
It’s also a great way to diversify investments and build long-term wealth.
Plus, you have the potential to leverage other people’s money, which can make real estate investments even more attractive.
Learn How To Save $100K
Saving money can be hard, especially if you are looking to have $100K in the bank.
But while it feels difficult, don’t let this stop you. Here is how you can save $100,000 in nine steps.
Steps To Building Wealth
We all want to have enough money that our finances are no longer a stress in our lives.
But with so much financial advice out there, building wealth seems impossible. Not any more. Here are the simple steps you need to take.
STEPS TO BUILD WEALTH AND BECOME RICH
Dave Ramsey’s Baby Steps
Using Dave Ramsey’s Baby Steps is great for getting your finances back on track. But you could do better with a few simple tweaks to his system.
Cash Stuffing Budget
Cash stuffing is a trendy budgeting method that makes better use of the envelope system.
By using cash, you not only avoid debt, but you have greater control over how you spend money.
Find out why so many people have fallen in love with it.
How To Have Stealth Wealth
When we think of the wealthy, we think of big homes and flashy cars. But many millionaires have stealth wealth.
This means you would never know they are rich by looking at them. The benefit? People leave them alone.
LEARN HOW TO BUILD STEALTH WEALTH
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I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.