Saving money is not as difficult as most people think. Sometimes we end up buying things we don’t really need just to fill our spaces.
Before you start thinking about saving ideas, you should ask yourself, how am I spending my money? You need to keep track so you can find easy and smart money saving tips that will help you reduce your spending.
Take a hard, honest look at your expenses, your bills, and your budget. With that, you’ll immediately notice some of the areas you can trim and some of the things you can do without.
Below are 19 smart money saving tips on how you can save up to $500 each month. Some of them may seem small, but they can have a big impact on your finances.
1. Cut the wire.
It’s time to say goodbye to cable. Anyway, who still needs cable nowadays when there are so many good alternatives out there like Netflix, Hulu, and Amazon Prime?
2. Plan your meals in advance.
Planning your meals ahead of time will not only keep you eating healthy, but it will also prevent last-minute restaurant trips and the temptation to order. end up spoiling
Have a list with you every time you go shopping. It will keep you in check. There are so many times I’ve done grocery shopping, overbought fruit that ended up going bad.
If you are new to meal planning or find it a bit difficult, try the $5 meal plan, which is perfect because it saves you time since they send you a meal plan and grocery list weekly. It will be stress free for you as you don’t have to keep thinking of a new recipe every time you want to cook.
Don’t throw away the leftovers, you can reheat them a day later for lunch or even dinner.
3. Smart tips to save money: cancel your subscriptions
Check your subscriptions and cancel the ones you don’t need. Things like a magazine and monthly box subscriptions that you don’t need.
You can read the same articles online at the magazine’s website for free, or even when you go to the salon, or you can rent a copy at the library for less.
If you have a monthly box subscription, have you used all the items in the last two months? Most likely not. They make them sound so good, to the point that you start to think you can’t do without one. You shouldn’t keep paying for something that you’re not getting your money’s worth.
Do you have a gym membership subscription that you never use? Time to cancel it and train from home.
Be sure to unsubscribe from the store newsletter. The marketing team is always sending notifications when they have a sale and it can be hard to say no. This is a simple way to reduce impulse purchases.
Interested in more smart money-saving tips?
The best and realistic frugal living tips for this year.
12 things I stopped buying to save money
4. Get rid of bottled water
It may seem like you won’t save much if you ditch the bottled water, but it’s the small steps that count and the money adds up in the long run.
Get a reusable water bottle if you don’t already have one, fill it up with water every time you leave the house. You can even add some lemon which is good for your skin.
5. Start a budget and stick to it.
In order to save you need to have a budget in mind. A budget will help you control your spending, and you’ll also know where you can cut back, helping you save more money.
6. Bring lunch to work
Taking lunch to work will make you eat healthy and save money too. If you have leftovers, pack them up and reheat during your lunch hour. Eating out is expensive, no matter if it’s dinner or lunch. If you don’t have any left over, you can make a sandwich or a salad that won’t take more than 10 minutes.
7. Use Airbnb
Do you love to travel and want to save some money while you’re at it? Airbnb is your answer. They are much cheaper than hotels and also more comfortable. The hosts are super friendly and will even point out the best and most affordable local places to try.
8. Travel out of season.
This means you’ll get a cheaper flight, cheaper hotels, and get discounted prices for tourist attractions. Another advantage is that it is less crowded.
9. Rent a room
Do you have an extra room in your house? Why not rent it out and earn some money? You can list it on sites like Airbnb, it will make sure you get clients faster and they are genuine.
10. Stop the coffee runs
One of my top smart tips for saving money. I used to be a victim of coffee runs. A cup of coffee can cost just $2 or $3, which may not sound like a lot, but it adds up. Why not invest in a coffee machine that is very cheap and all you have to do is buy beans that can last you many months?
11.Smart Money Saving Tips: Set Goals
What are you saving money for? For student loan? Mortgage? Travel plans? Whatever your reasons, having goals will motivate you and make it easy for you. It will also make sure you don’t stray off the path. Challenge yourself or get an accountability partner.
12. Get rid of your credit card.
This is great, with a credit card you always think you can buy more. You end up spending money you don’t even have. Ditch your credit cards and use only cash. This will help you save a ton of money since you won’t have a plan B to fall for.
13. Invest in LED bulbs
LED light bulbs use less energy, which means you can lower your electricity bill. They last longer, so it’s economical because you don’t have to constantly change light bulbs in your house.
14. Get rid of your paper towels.
This also applies to any other disposable items, such as plastic plates and forks. Not only will you be able to save money, but it is also very environmentally friendly. Instead of paper towels, use hand towels. For paper towels, you only use them once and throw them away, while paper towels just wipe them down and you can use them again.
15. Buy used and wholesale
Just because something is old doesn’t mean it’s not good. Check out places like eBay and craigslist. You can get almost everything on those sites for half the price.
Take a look at thrift stores in your area, you might be surprised by some of the things you find there.
If you’re buying basic items like toilet paper, pasta, laundry detergent, and toothpaste, buy them in bulk. It is always cheaper. Stock up on essentials when there’s a sale.
16. Use Ibotta when you go shopping.
Ibotta is a free app that helps you get cash back on all your eligible purchases like toiletries, clothing, and groceries.
The offers are incredible and over time you can save. The next time you plan to make a purchase, visit Ibotta to see what offers are available. For example, you can get like a 2% discount on toothpaste.
17. Use Ebates
ebates is another site where you can get amazing deals online. If you love to shop or shop a lot you have to take advantage of Ebates. They just pay you to buy. Impressive right?
Sign up to ebates free and get $10 in your account.
18. Buy timeless items
Stop buying fast fashion. They go out of style so fast and after that, it will be hard to wear them. Get timeless items that you can use over and over again for years to come. When you shop, make sure you buy quality over quantity.
19. Check out this post on 11 smart ways to make money off your electric bill. You’ll be able to lower your energy bill, which means you’re one step ahead of saving at least $500 each month.
There you have 19 realistic and smart money saving tips that will help you save at least $500 every month. Following one or two of these tips can change your life and you can achieve your goals.
The truth is that everyone wants to save money and make more money, it only happens to those who are willing to take the first step. Which of these smart money-saving tips are you willing to implement into your lifestyle?
