Easy ways to save money each day
We all want to save money.
While it’s a struggle for many, there are lots of simple ways to sock a few — or more — extra bucks away each month. Take a cue from some of these money-saving experts to find out a few easy ways you can cut back on expenses and start saving for whatever it is life throws your way.
Cook your own meals
If you find yourself going out to eat a lot, it might be a good time to evaluate your cooking skills.
“Cooking for yourself can be fast and easy, as well as surprisingly cheap,” explains Maura Judkis, writer, editor and Web producer in Washington, D.C. “Try online recipe finders for meals that use what you already have in your fridge. Make enough for a few days, and then use the leftovers in sandwiches for work the rest of the week. Eating at your desk could save you more than $100 a month.”
Be specific about your goals
When you’re particular about where you want to be financially, it will be easier to actually reach those goals. For instance, determine where you’d like to be financially when it comes to having money set aside for putting your kids through college, your vacation fund or the account for emergencies.
“Your needs will take precedence over your wants, with short-term needs being the top priority,” says Kiplinger contributing editor Cameron Huddleston. “Then you can set goals to meet those needs — and fulfill your wants.”
Use coupons — on everything
“You already know to look for coupons when shopping for groceries, clothes, toys and home goods, but what about all those other items in your budget? A quick Internet search could help you save big bucks on everything from medicine to dental care to car repairs and pet care,” says Andrea Woroch, a nationally recognized consumer and money-saving expert, writer and TV personality. “Consider this example: I was picking up a prescription at CVS when I decided to search Google for any possible deals. Voila! I found a voucher that will end up saving me $480 on a 12-month supply!”
Get rid of cable
Did you know that cable bills will soon be averaging $123 a month, or $1,476 a year, according to a study by NPD Group?
“With services like Hulu, Netflix and Amazon Prime, you can now watch your favorite TV shows and movies for a fraction of the cost of cable TV,” says Brittney Castro, CNBC contributor and founder and CEO of Financially Wise Women. By cutting out cable and switching to a more inexpensive service, you can have that money to put toward other financial goals.
Utilize your own skills before hiring a professional
You might be more handy than you think.
“When it comes to home repairs, don’t be afraid to try to fix things yourself. Even if you aren’t the handy type, small jobs like fixing running toilets and patching drywall will cost you over a hundred dollars to hire a professional,” says Jefferson, site founder of See Debt Run. “You owe it to yourself and your wallet to try to find a step-by-step guide online, and at least give it a good try to do the work yourself.”
Remember that a little bit goes a long way
Putting aside money in crafty ways will help you save a little bit each month — and even a little bit can add up quickly.
“When you’re able to eliminate a major expense, put half the savings into your new account,” notes Mary Rowland, writer for WomensDay.com. “When you finish paying for your car, for instance, save one half of the car payment each month. Or suppose you save $75 a week on child-care expenses when your kids start school. Put $37.50 per week into a savings account. That will build up really quickly!”
Regardless of how you do it, start saving more and see how quickly your savings account starts growing. Find out how we can help you save money today.
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