When it comes to saving money, everyone has their own tricks. Some of us put our credit cards on the back burner, while others squirrel away every penny we can spare. But no matter what tricks you use, saving money takes work. It’s something that’s not easy for everyone, but is especially tough for those with high-cost living costs and a limited budget. Fortunately, there are some smart ways to save money that even the most expensive of city-dwellers can adopt. Here are some top tips on how to save hundreds of dollars a month.
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Plan your meals and bar bill
If you're living in a city and have a busy schedule, it's easy to let your meal plan go out of whack. You'll be tempted to eat out or order takeout on the run, but this is one of the easiest ways to spend hundreds of dollars a month. To save money in this area, plan your meals and create a menu for the week that includes recipes that can be prepared during set times. You'll also want to make sure you buy ingredients ahead of time so they will be ready when they are needed. Another way to save money in this area is planning your bar bill. Plan how much you're going to drink each night, and stick with it. This will help keep you from spending too much (or too little).
Track your spending
Tracking your spending is an easy way to save money, and it only takes a few minutes a week. Take out your wallet and review each purchase you made that week and ask yourself if it was necessary. If the item wasn’t necessary, then brainstorm ways you could have saved cash by skipping the purchase. For example, if you bought a $4 coffee every day for two weeks and spent $16, then you could have saved $8 by bringing your own coffee or getting a cheaper coffee.
Don’t pay for service you don’t use
One of the easiest ways to save money is by opting out of services and subscriptions you don’t use.
When you opt-in for cable, internet, phone, or any other type of subscription service, they often offer discounts and deals on their services. Once you accept these offers you are locked into a contract that can last anywhere from six to 24 months.
If you find yourself in this situation, there is no need to panic! Canceling your service is easy: all it takes are a few clicks and a phone call (if necessary). You may have to pay the early termination fee upfront, but the savings will be worth it in the long run with all that extra money in your pocket each month.
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Use smart shopping habits
One of the easiest ways to save money is with your shopping habits. When you’re grocery shopping, avoid impulse buys and try to stick to a list. This will help you resist the temptation of buying new things when you’re not hungry. Another way to save money while shopping is by using coupons. You can find coupons online or in newspapers at the grocery store. Many stores will double coupon prices, so be sure to ask before you get home if they do this.
Bottom line
: save your receipts
If you want to save money, start with your receipts. It sounds like a no-brainer, but many people forget to keep those pesky slips of paper. When you do this, you'll be able to track exactly how much you're spending when and where - which is important in establishing a budget. You'll know how much money is going towards what and can look for places where you can make adjustments. For example: maybe you buy lunch every day at work and it's adding up. If so, try packing your lunch or invest in a meal service to get discounts on healthy options that are delivered to your desk every morning. Or maybe there's a certain store brand that does the same thing for cheaper! You'll never know unless you take the time to go through your receipts.