Money is not everything. It can’t buy you happiness, but as they say, it can buy you things that can make you happy. Money plays a significant role in your life and affects how you experience it.
Want to live in a big apartment? You need money for that. Have you been dying to go to your dream holiday destination? You can’t go unless you have money to splurge. From putting food on the table to paying bills, rent, and getting healthcare and education, there is no denying that money is essential to afford necessities and occasional luxuries to live decently and comfortably.
So unless you’re a part of the 1 percent, saving money should be on top of your mind as much as earning money. Making saving a priority will help put you in the path of financial security. If you save now, you will have money to spend in the future, such as buying your own home, paying for your future children’s education, enjoying retirement, and investing in an independent senior-living facility. Plus, you won’t feel as much stress in times of emergencies because you will have money to burn.
SAVE MONEY ON FOOD
Make a list of the items that you have to purchase before heading to the grocery store. To avoid an oversupply of one item, check your pantry to know which items have run out and need re-stocking. Consider buying cheaper brands instead of fancy ones, especially if there is not much difference in terms of quality.
Shopping with a full stomach can also help you save cash. When you’re hungry, you are more likely to buy based on your cravings. Impulse buying can also lead to unhealthy food choices.
During workdays, it helps to bring your own lunch. What’s great about making your lunch is that you’re not only saving some money, you’re also in full control of what you eat. Since you are in charge of meal planning, you can take advantage of it to start watching your diet.
When dining out, order an appetizer instead of an entree. If you are with company, like a friend or a date, consider sharing one entree and split the bill. When dining out on special occasions, plan to know which restaurants or diners are offering specials, promos, or happy-hour deals.
SAVE MONEY ON TRANSPORT
Biking is an economical, environment-friendly way of going places. If your destination is not that far, say you’re hitting the gym or running a quick errand, using a bicycle instead of your car will save you money on gas. Plus, biking is a form of exercise, so it’ll give you health benefits as well.
SAVE MONEY ON UTILITY BILLS
Be mindful of how you use your home appliances. Most manufacturers have recommended temperature settings for refrigerators, freezers, and air conditioners. Following these recommendations can help you save energy, reducing your electricity bill.
Learn general appliance maintenance and care to ensure that they are always in excellent condition. Appliances tend to work harder and use more energy when they are not properly maintained. This leads to higher electricity costs.
SAVE MONEY ON HOUSING
If you’re living alone in an apartment that is large enough for two, why not get a roommate? It can mean less space and privacy for you, but if things work out just fine, you’ll get to pay only half of what you used to for rent and utilities. Ask your landlord if he or she is amenable to this.
If you have a family with kids, discuss with your spouse if it’s possible to move into a smaller house. The kids might have to share a single room, or you might lose a guest room or a spacious yard, but on the bright side, a smaller house means cheaper utility and maintenance costs. Be mindful, however, of the distance of the new home to the office and the kids’ schools. Moving to a smaller house that is too far away from places you frequent just means more dollars burned on gas.
SAVE MONEY ON MISCELLANEOUS EXPENSES
Carefully assess your expenses that do not fall under necessities. Necessities include food, clothing, shelter, transportation, utilities, healthcare, and education.
Expenses outside of these can include your subscriptions to newspapers and magazines and multiple streaming services. Why not catch up on current events online? This is a cheaper environment-friendly alternative. For streaming of music and your favorite shows, choose the platform that you use the most, and cancel the rest. You can also alternate your subscriptions on a need-to-use basis. You can also look at streaming services offering family plans as this is cheaper compared with individual plans.
You work hard every day to earn a living, so make each cent of your hard-earned cash count by spending wisely. A few adjustments in your spending behavior and lifestyle choices can go a long away, especially on a rainy day.