A lot of people believe it’s difficult to save money. In many cases it’s not. You just need to know where to look and realize not every cost-cutting action is going to require tons of sacrifice. In fact, there are many lazy ways you can save money and give a jolt to your bank account. Here are 12 minimum effort ways to cut costs you can start today.
Cancel Subscriptions You Don’t Use
It can be easy to amass subscriptions to a variety of services, but chances are you aren’t getting much use out of all of them. Go through your subscription services and cancel the ones that you aren’t using anymore.
They may only be a few bucks a month, but they do add up, especially over the course of the year, and that’s money you can put towards your savings.
Sleep On Your Purchases
It’s easy to buy frivolous things you don’t really need with just a simple click of a button these days, and it can do a number on your bank balance.
Implement the 24-hour rule, and sleep on your potential purchases for a night before you buy it. You might decide you don’t really need it anyway.
Batch Cook Your Meals
Cooking your favorite meals in batches allows you to purchase the ingredients you need in bulk, which may save you money. You will also be saving your time since it doesn’t take any longer to make two or three of a dish than it does just one.
You’ll also be filling your freezer for a future meal, which means less spending on takeout because you don’t feel like cooking.
Use Cash Back Apps
Use cash back apps when you make purchases. There are several cash back apps you choose from that give you money back on the purchases you make.
You can earn cash back on clothing, shoes, make-up, and even groceries and household goods.
Reward Yourself With Reward Apps
Don’t forget to download some reward apps that give you points for things such as playing a game, watching a video, taking a survey, and uploading receipts.
Once you have earned enough points, you can trade them in for cash deposited via PayPal or gift cards to your favorite stores.
Automate Your Savings
Set up your bank account so that a certain amount or percentage of each deposit or paycheck automatically goes to your savings account.
Having it automated means you don’t have the opportunity to spend your whole check as soon as you get it. Using an online bank like CIT Bank is best as they pay a super competitive rate and next to no fees.
Shop Your Pantry
Food waste is a real issue for most people. Studies show Americans throw away thousands of dollars, per household, annually.
An easy way to minimize this is to shop your pantry before going shopping. Look at what you already have and think through what meal ideas you can use them for. It will reduce your shopping bill and your food waste.
Adjust Your Thermostat
Depending on the season, you can raise or lower your thermostat by a few degrees. Chances are you won’t notice the change in temperature, but you may notice a decrease in your energy costs.
If you do get chilly, just pull a sweatshirt on.
Pack Your Lunch
Taking your lunch to work instead of buying lunch every day can save you quite a bit of money each week. It’s nice to treat yourself once in a while, but eating lunch out several times a week is going to add up quickly.
Even fast food meals are rapidly approaching the $10 and up price range.
You can find generic versions of nearly every single household, grocery, and personal item. Buying generic instead of name brands can save you a small fortune over the course of a year.
In most cases, you won’t even notice the switch!
The price of goods can vary widely from store to store, even for the exact same product. Be sure to do your homework and comparison shop for the best deal.
It’s a simple way to make sure that you are getting the best deal, and there are lots of websites and apps that will even do it for you, so you have no excuse not to do it.
Look For Free Resources
Why pay for something if you can get something just as good or better for free? Budgeting apps, antivirus protection, and word processing programs are all examples of items you don’t need to pay for since there are free versions that are readily accessible and just as effective.
35 Proven Ways to Save Money Every Month
Many people believe it’s impossible to save money. Or, they think saving $20 or $50 a month won’t amount to much. Both are incorrect. There are many simple money-saving tips that can add up to big savings. You just have to start one, then another, to increase your savings.
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I’m John Schmoll, a former stockbroker, MBA-grad, published finance writer, and founder of Frugal Rules.
As a veteran of the financial services industry, I’ve worked as a mutual fund administrator, banker, and stockbroker and was Series 7 and 63-licensed, but I left all that behind in 2012 to help people learn how to manage their money.
My goal is to help you gain the knowledge you need to become financially independent with personally-tested financial tools and money-saving solutions.