10 easy ways to save money every month
The problem with many money-saving tips is that they require big changes and are hard to maintain. Saving money needn't be difficult all the time. We're going to look at a few simple tweaks you could make to your lifestyle that are aimed solely at saving you money, simply and easily.
1. Watch Less TV
You might think this is just aimed at reducing electricity costs but that's not the only way television wastes you money.
The reality is – being bombarded with adverts all day long is difficult even for those with iron willpower. And for others – it's just giving you more and more things to spend money on. Things you usually don't need. Avoiding temptation isn't cheating – it's practical. Not only that – but TV is a huge sap on your productivity which means you could be doing more worthwhile things instead – like earning money.
The final icing on the no-TV cake is that if you can really survive without it, you might be able to cancel your costly satellite subscription or stop renting DVDs. There are other (cheaper) ways to entertain yourself. Try them.
2. Pay More on Your Mortgage
This might seem counter-intuitive, but it could see you save more in the long run. Paying an extra $20 each month could save you $4,000 in interest and help pay your mortgage off 2 years early – leaving you debt free even sooner. Just make sure you don't have any additional payment penalties.
3. Use the 30-Day Rule
In today's fast paced society – people have become too used to instant gratification. See something you want? Buy it. That's the mindset many people have – and it's costly. If you think you need something, try and wait 30 days before making the purchase.
Often, you'll realize you didn't need it in the first place, saving big bucks. Waiting before making a big purchase can help cure the "must-have-it-now" syndrome and help you get perspective as to whether the purchase is really necessary.
4. Drink More Water
Not only is it healthy, it's also good for your wallet. If you keep a refillable bottle with you, you don't need to pay out for sodas every time you're thirsty. A glass of water before a meal will also help you feel full sooner, saving money on food bills.
5. Stick to Your List
When you go food shopping, only buy what's on the list. You'd be surprised how many people wander around just grabbing anything they fancy.This is an especially bad idea on an empty stomach. Make sure you plan your shopping when you're full and ONLY buy what's on the list.
Theses simple tips are easy to maintain and should help you start saving money. There's no reason you can't continue to live an enjoyable life while saving for more important purchases.
6. Cook Meals in Batches
Cooking individual meals every day is costly, and it leads to a lot of unwanted waste. While this tip might not work with every type of meal, trying cooking up a big batch and freeze the leftovers. This'll save you money as you can bulk buy ingredients and save yourself from throwing away much of the waste.
7. Quit Smoking
This probably seems rather obvious, but it's also one of the biggest unnecessary costs many people think they can't do without.
Not only that, but it's terrible for your health. If you smoke a $5 packet per day, that adds up to nearly two thousand dollars a year!
8. Wash Your Hands Regularly
With medical care as expensive as ever, one of the easiest ways to help avoid them is also one of the simplest. Wash your hands!
Tons of viruses and bacteria can be defeated by doing this, saving medical costs and also any loss in productivity (missing work because you're ill). Make sure you keep your hands clean, especially if you've handled raw food.
9. Look for Free Events
Going out doesn't to socialize with friends doesn't have to be costly. Many areas run free events that are open to everyone. Check notice boards and your local newspaper for things that might appeal. Some of these events will even provide food and drink!
10. Eat Breakfast
If you skip breakfast, you might think you're saving money – but that's not necessarily the case. Not only are many breakfasts nutritious, healthy AND cheap – they also fill you up so you don't over-indulge at lunch time.
Those who have a healthy regular breakfast could actually spend less in total, when you factor in the price of a big lunch. Also, if your earnings depend on your performance – you could be more productive in the mornings after a good breakfast, earning you more money in the process!
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