Top 20 Saving Tips to Help You Save More and Live Life More

Top 20 Saving Tips to Help You Save More and Live Life More.jpg

Have you ever found it impossible to find a way to save money, no matter how hard you
try? You try to reduce your spending in good faith, but something always gets in the way.
Cars need new tires, teenagers need braces, and homes need new roofs. And you need a
backseat to saving money. Are you familiar?
The truth is that you don't have to magically align everything before you start saving money.
Spoiler Note: If you wait for the "right time" to roll around, it won't show up. Now is the
best time to start saving.
The good news is that there are many easy ways to save money and bring fresh air (and
money) to your budget. Here are 20 saving tips to help you optimize your spending and start
saving money right away.

*****20 Practical Ways to Save Your Money*****

1.Say goodbye to debt.

Monthly debt repayment is the biggest waste of money when it comes to savings. Debt robs
you of your income! So it's time to get rid of that debt. The fastest way to pay off your debt
is to use the debt snowball method. Here, the debt is repaid in order from the smallest to
the largest. Sounds pretty intense. Don't worry, it's more about behavioral changes than
numbers. Once your income is free, you can finally use it to move toward your savings goals.

2.Cut down on your grocery budget.

Most people—after they do a budget—are shocked to find out how much they are actually
spending at the grocery store each month. And if you are the average American family of
four (with two kids 5 and under), you are probably spending around $928.1 Yikes! It`s so easy
to walk through those aisles, grabbing a bag of Oreos here and a few bags of chips there,
and then top it off with the fun goodies at the register. But those little purchases (aka
budget busters) add up quite a bit and end up blowing the budget every single month.
Save money on groceries by planning out your meals each week and taking a good look at
what you already have in your pantry before you head to the store. Because why would you
want to buy more of what you already have? And if you really want to stick to your list—
leave the kids at home.
Want to save money and time? Try online grocery pickup or delivery. Most major grocery
stores offer it these days (sometimes even for free), and it can save a ton of money. Picking
up your groceries gets rid of the temptation you would’ve had when you caught a whiff of
those freshly baked chocolate chip cookies floating through the aisles. In other words,
you’re forced to stick to your list and avoid those impulse splurges.

3.Cancel automatic subscriptions and memberships.

You may be paying for multiple subscriptions such as Netflix, Hulu, Spotify, gym
membership, trendy subscription boxes, and Amazon Prime. It's time to cancel a
subscription that you don't use on a regular basis. Also, be sure to turn off automatic
renewal when making a purchase. If you cancel and decide you can't do without it,
subscribe again. But only if it fits within the new and improved budget.
And for those subscriptions, you do want to keep around, think about sharing memberships
with some family or friends. A lot of streaming services, like Netflix and Hulu, let you watch
your favorite shows from two or more screens (with an upgraded account). That way,
everyone wins—and saves!

4.Cut ties with cable.

It's no secret that cable prices are rising crazy. The average monthly charge for cable TV,
including all charges, is about $ 217 per month, for a total of over $ 2,600 per year! 2 Good
news. Cables aren't the only way to watch your favorite shows these days. Find a way to
disconnect the cable and save a lot with alternative cables such as network apps and
streaming services.
But remember—don’t go subscription service happy here. Only sign up for the streaming
services you’ll actually use. If you sign up for everything out there, you could end up actually
spending more than cable!

5.Buy generic.

Hands down, one of the easiest ways to save money is to give name brands the boot. In
most cases, the only thing that’s better about brand-name products is the marketing. I
mean, look at that box! The logo is so fancy! And that’s about where it ends. Generic brands
of medicine, staple food items (like rice and beans), cleaning supplies, and paper products
cost far less than their marked-up brand-name friends—and they work just as well too.

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6.Save money automatically.

Did you know that you can save money without thinking about it? Yup—you can set up your
bank account to automatically transfer funds from your checking account into a savings
account every month. If that sounds scary to you, you can also set up your direct deposit to
automatically transfer 10% of each paycheck into your savings account. Boom!

7.Spend extra or unexpected income wisely.

When you get a nice work bonus (way to go!), inheritance or tax refund (or random
stimulus!), put it to good use. And when we say “good use,” we aren’t talking about adding
that fancy new stamp to your stamp collection or even just putting it in the bank to camp
out.
If you’ve still got debt in your life, you’ll be better off using those funds to pay off your
student loans or the balance on your credit card instead of stashing that money away. If
you’re debt-free, use those extra dollars to build up your emergency fund—you know, for
emergencies.
Bonus Tip: If you get a large tax refund each year, it's time to adjust your salary withholding
so that you can bring more money home each month. Besides, you don't want to give the
government more of your money than you have to do, right?

8.Reduce energy costs.

Did you know that you can save money on your electric bill just by making a few tweaks to
your home? Start with some simple things like taking shorter showers (nope, we didn’t say
fewer), fixing leaky pipes, washing your clothes in cold tap water, and installing dimmer
switches and LED lightbulbs.
While new, energy-efficient appliances are a great way to save money on your electric bill,
they’re expensive! But if you work it into your monthly budget, you can save up and pay
cash for those improvements over time.

9.Unsubscribe from emails.

Email marketers are really good at what they do. They know the irresistible temptation of a
The 24-hour sale or exclusive coupon. And talk about those flashy GIFs!
If you just can’t resist shopping when you see a special offer, click the unsubscribe link at the
bottom of the email. Do it! You’ll be less tempted to spend, and your inbox will be a lot less
cluttered. It’s a win-win!

10.Pack lunch (and eat at home).

Get this—the average household spends about $3,526 on food outside of the home each
year.3 That’s $294 per month! Buying lunch a few times a week may seem harmless at the
moment (especially when your favorite restaurant is within walking distance from your
office), but you can save quite a bit of money just by packing a lunch.
Not only that but a lot of times you can buy a solid week’s worth of groceries for the same
price as two dinner meals out. Instead, prepare your food at home and watch your savings
pile up month after month.

11.Ask about discounts (and pay in cash).

You never know until you ask—and you should always ask. Next time you’re getting tickets
at a movie theater, museum, or sporting event, check to see if they have any special
discounts for seniors, students, teachers, military or AAA members. If not, never
underestimate the negotiating power of cash!

12.Lower your cell phone bill.

When you’re monthly mobile invoice is in conflict with your monthly grocery budget, it's
time to find a way to save money. Save money on mobile services by removing extras such
as expensive data plans, phone insurance, and unnecessary guarantees. And don't be afraid
to negotiate with your provider or switch completely! It may require a little tenacity and
research, but it's worth the savings.

13.Take advantage of your retirement savings plan.

If your employer offers a 401(k) match and you aren’t taking full advantage of it, you’re
missing out big time! Talk to your HR department to set up an account. But remember, you
should wait until you’re completely debt-free (except for your mortgage) and have a fully-
a funded emergency fund of three to six months before you start saving and investing for
retirement.

14.Try a spending freeze.

Don’t buy any nonessential items for a week—or even a month! Think about it as a
contentment challenge. While you’re at it, take inventory of what you’re grateful for each
day. This should help kick your “want-itis” in the pants!
Make your spending freeze work by prepping meals with the food you already have,
avoiding stores where you tend to impulse buy (did someone say Target dollar spot?), and
saying no to anything that isn’t a basic necessity.

15.DIY . . . everything!

Please think about what you do with yourself before searching for money to pay for a new
back press, a wonderful light mount, or a bench! In principle, materials and simple Google or
YouTube searches for the latest home project can save much money. You probably do not
have to pay someone to do something you can do yourself. However, if you are a person
who is not nailed on the head, you may want to ask your friends or neighbors for help, so
you do not have to use the money on new drywall.
Oh, and if you need to do DIY work (or some tasks), you will lend yourself what you need for
friends and neighbors, rather than going out and buying.

16.Skip the coffee shop.

Ouch. This one is painful—we get it! But instead of spending $5 on that daily latte, you can
save money by just making your coffee at home. Listen, we’re not saying you should only
drink instant coffee (unless you’re into that sort of thing). But even purchasing a bag of local
beans from your neighborhood coffee shop and brewing it at home will save you a lot of
money in the long run.

17.Try a staycation.

If your goal is to save money now, going on vacation is the worst thing you can spend your
money on. Instead of taking your family to the Greek islands, try becoming a tourist in your
own town. This will not only save you hundreds (or perhaps thousands) of dollars but will
also allow you to see and enjoy your neighborhood with new eyes.

18.The library is your friend.

Before you click “add to cart” on that brand-new book, check your local library to see if you
can borrow it! Most libraries also have audiobooks and digital copies of your favorite books
for rent. It’s an easy way to get your reading in without breaking the bank.
We get it, though—because we love reading too! In our National Study of Millionaires, 81%
of millionaires surveyed read 11 or more books per year. Like Dave Ramsey always says,
“Readers are leaders.”
Bonus tip: Check sites like Alibris and Thrift books for major deals on like-new or even well-
loved books . . . for next to nothing!

19.Use cashback apps and coupons.

20.Sell everything (that doesn’t bring you joy).

Marie Kondo has the right idea. Clean up the things in your home that you don't need and
you want to let go of for your financial future. That vintage chair your aunt gave you? Sell it.
That crystal vase you found at an antique store? Sell it. You will be amazed at how much
clutter you have in your home (you don't even use or think about it). And the money you
can earn from these things can mean the difference between a living salary and a salary.