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If you look up ways to build your savings on the internet, you'll get an abundance of articles that suggest making extreme lifestyle changes. From “don't eat out anymore” to “clip coupons” to “eat meat only once a week,” the suggestions are certainly effective, but they're not really enjoyable.
Yes, many people need to get better at saving, but at what cost?
If you're unwilling to sacrifice your happiness for more money, you're not alone. People like you have taken it upon themselves to share practical money-saving tips that require little effort on your part but that yield big results. This post shares the top four of them with you.
Review Your Bank Account for Auto Withdrawals
If you were to review your bank account, you may discover that you spend an absurd amount on subscription products and services. What's an absurd amount? $237.33. That's right—the average American spends as much as much as $237.33 on monthly subscriptions.
While some, such as insurance, utilities, and cell phone, are necessary evils, others, such as Flickr, Carnivore Club, and Winc are, well, a little less vital.
Review your bank account to see what, exactly, you're authorizing payments for each month and cancel subscriptions that you don't need. You could end up saving hundreds of dollars by giving your bank statement a cursory once-over.
Lower Your Car Insurance Premium
There are a number of ways in which you can reduce your car insurance premium. For starters, slow your roll on the open roads and drive with more caution. The longer you go without any traffic citations, the more your insurance premium will drop. If your insurance company offers it, get one of the devices to put into your vehicle to track for safe driver discounts.
If you are not that safe of a driver, think about taking public transportation, joining a car-pool, or riding your bike. Even if you are a cautious driver, driving less could significantly help reduce your rates. If you are a safe driver, talk to your insurance provider about safe-driver discounts. By putting forth a little effort, you may be able to reduce your car insurance rates by a couple hundred dollars a year.
Carry & Use Cash Instead of Cards
Companies today have made it all too easy for people to spend money. You can swipe a debit or credit card at just about any location, and many places have even started to accept Apple Pay or PayPal, which means you can use your phone to make a purchase. While these forms of payment are convenient, they may be a little too convenient. Summon the courage to say no to plastic and Apple Pay and yes to cash.
Become your own financial advisor and carry only the amount that you plan to spend for the week. If your grocery budget is $100, your gas budget is $50, and your lunch budget is $75, carry $225. One that's gone, resolve to eat in, stay in, and play in until the beginning of the next week. You may be surprised by just how well you become at managing money by about week three or four.
Wait at Least 1 Day
Speaking of convenient spending…Online retailers have made it all too easy for individuals to purchase miscellaneous items at the touch of a button. While this is great for convenience purposes, it makes it all too easy for individuals to give into their purchase impulses. If there is something that you don't really need but just want, wait one day before deciding to make the purchase. You may just be surprised by how often you find yourself deciding NOT to make the purchase and to save the money for something else.
Saving money doesn't have to be a chore. With these four tips, it isn't. When you cancel costly subscriptions, reduce your car insurance premium, carry cash, and wait a day before purchasing, you may discover that saving money is actually a breeze.
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I am a wife, mother (to both human & furry), daughter, sister, and blogger. I grew up in a semi-suburb of Cleveland, Ohio. In October 2013 I married the love of my life and in July 2018 we bought our first home in a small little country town about 45 minutes away from our hometown.
My belief is that someone is always needing a little help in various aspects of their life and I'm that chick who will help. On my website, you will find a variety of topics that primarily center around parenting teen sons, finances, crafting, DIY, food & drink, a little beauty & fashion, and I talk a lot about mental health.