Save money with these 20 money-saving tips!
You don’t need to live under a rock just to save money. If you want to save money then take a look at these money saving tips! Majority of these are, in my opinion, non-necessities which means that these aren’t crucial for your everyday living (#1 might be).
Use these money saving tips in order to build up your savings, pay off any debt, or to simply have more cash laying around.
Now, I’m not going to ramble on why you should be saving more money, so I will get right into it! Let’s save money!
Like what you’re reading? Check out my other blog posts!
- Everybody needs to eat, which is why one of the easiest ways to save money is by using these grocery shopping tips!
- How to save even more money with these tips (+ BONUS LIST)!
- Want more money saving tips? These are the stuff I stopped buying!
1. Stop buying Starbucks!
Assume a cup of coffee cost $2 at Starbucks.
If you buy coffee once every day then you can easily save $14 a week! That’s $56 a month, which is also $730 a year! If you’re a morning and an afternoon drinker, then take those numbers and multiply by 2!
Coffee is a key staple to most people’s morning ritual, which is why I recommend to brew your own coffee rather than buying it at your local coffee shop.
2. Change your buying habits at the grocery store
There are many different techniques to shop for groceries which I’ve made a blog post before, which you can check out here!
- 10 things to stop buying to save money.
- 7 buying habits to help you save money.
- Are you a Canadian? Use this credit card to save on groceries!
3. Cut down on the data!
Consider downgrading your phone plan to something more affordable like a basic talk and text plan or a simple prepaid plan.
It’s good to have some data access if in case you are stranded and need to connect to Google Maps, but don’t buy a plan that offers 4+ GB of data! Take advantage of free wifi around the city if you really need internet access.
I currently use the basic talk and text plan with PetroCanada Mobility for $20/month.
4. Automate your saving
Allowing your bank to automatically transfer small amounts into your savings will make it easier for you to save up. Why?
Because it hurts a lot less when you’re not the one who’s pulling the trigger.
5. Bring lunch to work
Meal prepping and planning your own lunch can easily save you quite a bit. Avoid eating out or visiting the nearest corner store to buy food.
Need some meal planning ideas? Check out these 9 easy meal plans from the FoodNetwork!
6. Store loose change in a jar
Loose change may seem worthless because their values are so small, but don’t let it fool you!
I paid for gas a few times with all loose change. Sorry, not sorry to the cashier. “I gotta do what I gotta do”.
7. Find cheaper means of transportation
Cars are too expensive and the cost of taxis can add up; consider taking public transportation to “steer” clear from the unnecessary expenses.
Jogging and biking is a better option because you will get the exercise and save money!
8. Really need a car? Fill up when gas prices are low
Avoid buying gas when gas prices are at their highest. Swoop in at the gas station when gas prices are low. The price of gas is generally a lot cheaper outside of the city or at night time.
Ask for any loyalty cards to save a couple cents each litre.
9. Keep Track and Set Goals
Keeping track and setting goals will put some pressure and accountability when saving money. Have a plan and commit to it!
10. What’s a landline?
If you have a mobile phone then save yourself the extra dough by getting rid of the landline.
11. Cable and movie subscriptions
Use YouTube or online movie websites instead of paying monthly subscriptions.
If you like to watch movies in theatres then try to go on a day where movie tickets are cheaper. I.e. Cineplex tickets are half price every Tuesday.
12. Money saving challenge with a friend
A little competition won’t hurt. Challenge a friend to see who can save up the most. This will spark a little fun into saving.
13. Cut your own hair
This will take some practice, but once you’ve mastered this then you can look fresh whenever you want without waiting in line at your barber.
14. Use your savings to pay off any debts
Get rid of any debts as soon as possible to avoid paying any interest. Need help paying off debt? Look into these method!
15. Save on your ulility bills
Try some of the following below to lower your utility bill!
- LED lightbulbs
- Fans/open windows instead of AC
- Dress warmer instead of using the heater
- Energy efficient appliances
- Turn off anything, not in use
- Maintain appliance
- Go outdoors more
16. Going out for a drink?
Go out to eat and drink with your friends during happy hour! Take advantage of when prices are at it’s lowest.
17. Find cheaper bank accounts
Don’t stick to a bank account that charges you crazy fees. Ask for any accounts with no monthly fees or if they will consider waiving the fee(more likely to work if you’ve been banking with them for a while).
18. Exercise outside or at home
Save the monthly gym fee by working out at home or going for a run outside. Need weights? buy a gym membership without all the fancy services.
19. Buy Used
There’s nothing wrong with buying used, but make sure it is still in working condition. Buying used will allow you to save almost 50% off the original retail.
20. Understand tax deductions and tax credits
You worked hard for your money so research on anything you can deduct off your tax return.
20 Ways To Save Money Conclusion
These are the 20 ways to save money that you can implement into your money saving challenge. Saving money can be a little difficult at first, but once the ball starts rolling then it will become easier!
Let me know down in the comment section below on what have you stopped buying that saved you a lot of money?