The COVID-19 pandemic threw everyone for a loophole. Maybe, with the vaccine rolling out and the job market looking up, you are finally ready to work more again and pay back any expenses that you put on a credit card. Did the pandemic deplete your savings account? Or maybe you’ve never put much thought towards saving? Whatever the case may be, you are ready to save money and really put your mind towards it.
Saving money can definitely be a challenge. Most people will agree that it is easy to spend extra money on the beautiful purse you’ve been eyeing for months or a new snowboard before the season ends. Trimming your spending feels like a sacrifice. Thankfully, there are simple ways to save money whether you want to save thousands or just budget a little better.
Use An Automated Tool
There are many great automated tools that help you save money. Find an app or bank account that takes the work out of saving. Digit and Acorn both take certain amounts of money per month from your checking account to your savings. You can do your own research and explore the various options out there. This is an easy way for you to save money without even remembering you did!
Reduce The Amount of Money on Dining
Dining out, whether that’s fast food or a nice dinner can really add up in your monthly expenses. If you work Monday through Friday, try to cook at home during those days. On the weekend, you can reward yourself. By saving on just two meals a week that cost approximately $15 each, you are saving yourself $120 per month. Who knows, maybe cooking at home more often will foster your creativity for trying something new. You’d be surprised how much money you can save by making this small shift.
Cancel Unnecessary Subscriptions
Still subscribed to a gym that you never go to? Or maybe you pay for Netflix every month but hardly use the platform. Do some digging into your bank statement and figure out if you’re subscribed to anything that you no longer need. Often, people are paying for subscriptions they didn’t even realize they had!
Look For Help
As with everything in life, suffering is temporary. If you are unable to save money because of your debt, reach out for help. There are a variety of resources for help, like quick loans. Quick loans help you if you’ve just experienced a financial emergency or you have a car repair you need to attend to. Another option is to reach out to family members or friends you trust and see if they can help you. If you need to borrow money and they trust you, they may be able to give you some interest-free. All in all, don’t be afraid to reach out for help.
Track Your Spending
This is extremely important, because if you don’t know where your money is going, then you will never be able to make positive changes to your finances. Track your monthly cash flow, your income minus your expenditures. This will make it much easier to mark progress towards your savings goal. Try a budget app that helps you track your spending, or you can even create your own excel spreadsheet and calculate everything.
Try A Staycation
Let’s be honest, we all love a wonderful vacation. However, they can be pricey! Instead of going to Hawaii or Italy this year, try a staycation. They can still be so much fun with less cost. You won’t have to worry about air-fare or travel costs–but it will still feel like you’re getting the relaxation time you need. There are so many spots in the city that will feel like you’re still getting away, but you aren’t going far. You’ll get to explore the neighborhood with fresh eyes and save hundreds while doing it!
Reduce Energy Costs
Are there any ways you can make a few tweaks to your home energy usage to save some money? Start with simple things like taking shorter showers or fixing leaky pipes. Are you keen on leaving the lights on when you don’t need to? Try to keep track of the bad habit and turn them off. A few minor fixes can save you money per month!