If there is something that unites most of the people on this planet, it’s that there are times when we could all do with more money.
They say that money makes the world go round, but when you’re short of it, it can cause you considerable stress. So, how do you save money and make better use of the money that you do have coming in?
Here’s how to save more money with 17 great penny-pinching tips.
1. Share a Ride
If you know someone that makes the same journey as you to and from work, why not share a ride. Between you, you’ll be able to each half your gas and parking costs.
In fact, why not go further and see if you can find other people to share with too. If you can find four people who make a similar journey each day, you could each quarter your costs.
Not only will you all have the extra money in your pockets, but you’ll also have plenty of company for the journey to and from work each day.
2. Save up All of Your Small Change
When you buy something, and it ends in an odd amount, such as 99¢, it can be easy to write off those odd pennies. But they all mount up.
Keep hold of your small change. Put it in a jar or bottle and see how quickly it mounts up. While you’re unlikely to save up a life-changing amount, you may be surprised at quite how much you do manage to save.
3. Make Do and Mend
When something breaks, it can be very easy to just throw it away and buy a new one to replace the damaged item. We live in a throwaway society where everything is disposable, even when it shouldn’t be.
Instead of throwing broken items away, why not try to fix them? If you can’t do it yourself, find a local handyman or repair business that can do the job for you.
Paying to have an item repaired can save you a considerable amount when compared with buying a new one.
If you’re not able to fix the item, ask yourself if it’s possible to make do with it in its current state. If the damage is only minor, you could just continue to use it as it is and save yourself even more money.
4. Cancel Unnecessary Subscriptions
We’re constantly being sold new services and subscriptions. From cable channels through to streaming services, many households pay for at least two different services.
But ask yourself whether you’re getting the full use out of all of your subscriptions. By canceling one or more of your subscriptions, you may only save a few dollars each month, but over a year, this could add up to be a considerable saving.
5. Switch Energy Providers
How much do you pay for your energy? Chances are, you don’t even know what the unit cost for your electricity is, but yet you still pay it anyway.
Find out what you’re currently paying and shop around for a better deal. With so many different energy providers out there these days, it makes sense to switch to the cheapest.
You might find that certain companies will have better prices for newer customers. These prices may slide back up after a while. Find out exactly what the terms of any offers are and always ensure you’re able to switch again when your energy supplier starts being non-cost-effective.
6. Find Yourself a Side Hustle
If you want to earn a bit of extra money, but you’ve reached the highest level possible for earnings in your current job, why not find yourself a side hustle.
There are countless ways to make money on the side of your regular job. You could get some work as a freelance writer using sites like Fiverr and Upwork, or you could sell second-hand items on eBay.
Remember to check whether you need to declare taxes on your second income and keep your tax to one side to pay the tax bill.
7. Travel Off-Season
Are you thinking about taking a break? Holidays cost more during peak seasons. These are usually when the weather is warmer, when schools and workplaces are off, or around national holidays such as Thanksgiving and Christmas.
If you can avoid these times and travel during the least popular months, then you can enjoy your holiday for less. The weather may not be as great, but the area that you’re holidaying is likely to be quieter.
8. Take Your Own Lunches
When you head out to work, take your own lunch with you. This will save you a small fortune if you usually would buy lunch out every day.
Think about mixing things up. Take sandwiches on some days, and take leftovers from the night before’s dinner on other days.
9. Make Gifts for Friends and Family
Buying gifts for all of your friends and family can make birthdays and Christmases very expensive. But if you have a natural flair for making things, you should put this to use by crafting some handmade gifts.
Not only will you be able to save money by making your friends and family gifts, but you’ll also be giving a more personalized gift that the recipients are likely to appreciate.
10. Grow Vegetables
Do you enjoy fresh fruit and vegetables? Why not grow your own?
Growing fruit and vegetables can not only be a rewarding hobby, but it can also save you a considerable amount on your grocery bill.
In addition to the savings, you’ll be enjoying fruit and veg that is fresher than you’d usually find in the stores as it’s straight from the plant.
11. Cook Your Own Meals
If you’re someone that eats a lot of ready meals or even gets takeout often, then you could save a lot of money by changing the way that you eat.
By making your own meals from scratch, you could save yourself a lot of money.
If you don’t have time to cook very often, you could save yourself time and money by batch cooking your meals.
Batch cooking means making a large quantity of certain things and freezing it in portions. This saves you the need to cook every meal from scratch, and you’ll enjoy the economy of scale savings from making bigger batches.
12. Head to the Thrift Store
If you want clothes, why not see what bargains there are at the thrift store?
Not only will items bought at the thrift store be a lot cheaper than you’ll find them elsewhere, but the money that you spend there will go to charity.
13. Switch From Coffee to Tea
It may be a challenge to do this, but switching from coffee to tea could save your money. Teabags are often less expensive than coffee. Not only that, but you can also make a pot of tea using a teabag, making each bag go further.
14. Shop Online
Whenever you want to buy something, shop online for it. By doing that, you’ll be able to shop around from a wider range of different retailers and find the store that has the item that you want at the best price.
Use the shopping search function on Google; you’ll be able to easily compare a range of different companies that sell the item that you’re looking for.
15. Switch Banks
Is your bank doing the best it can with your money? If you’re getting overcharged by your bank, then it might be time to put your money somewhere else. Do a search and find the best private banks. Don’t forget to compare all of their fees and interest rates.
16. Buy Second-Hand
For most things that you need to buy, you’ll be able to find a second-hand version somewhere that will cost a fraction of the price that it would sell for new.
Some people will sell second-hand items in pristine condition, meaning they are as good as new. Shop around on sites like eBay or Facebook Marketplace to find the best deals you can.
17. Have a Movie Night at Home
Do you find the cost of going to the cinema to be astronomical? Why not skip the cinema and have a movie night in your own home? Buying popcorn from the supermarket is much cheaper than at the cinema.
How to Save More Money
There are countless ways to save money. If you want to know how to save more money, you just need to get creative. Remember, when you’re buying anything, there is usually a cheaper way to do it.
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