What are the best ways to save money?
I am really horrible at saving money. What are the easiest ways to save some extra money.
8 answers
Try to carpool. Track all your expenses in an app like Spending Tracker (will change your life if you keep to it!) Buy generic drugs, food items, cleaning products. Buy used clothes, used car. It's also better for the planet.
I would not worry about saving money like clipping coupons and trying to get the best deal. That costs time and money to do research for the 'best deal.' I would be also concerned with how to make more money. How to create more value for your job or in what you do.
When you eat out, do not order two plates of food. Order one plate of food and share. Go vegetarian most days of the week. Reducing your meat and alcohol intake will decrease your spending.
Think about the future value of every dollar you spend. You may have a nice sweater to wear for the next year that you bought from Macy's. But that on average for every dollar you spend you forgo a future value of about 5x that if you had for instance saved it and put it in an index fund that tracks the entire stock market for a reasonable 6% return over 30 years.
Go out less and stay home more. Have less friends. Go sober. Do not drink alcohol or smoke cigarettes. Do a 'staycation' instead of a vacation abroad.
Drink PBR or whiskey on the rocks instead of a fancy $15 cocktail at the bar.
When you make daily purchases, ask if this is a want or a need. Only buy things you need for a month, and then adjust your habits accordingly.
There are a number of things one can suggest, however I cannot guarantee that any of them will truly work for you. One thing you may want to try is choosing days to go meat free, create menu's, and budget your grocery shopping carefully. Remember to fix any leaks you may find around the house, and to turn off and even unplug certain electronics when they are not in use. If you have a garden or do anything for your lawn try making your own compost instead of buying it yourself. Not only will you be saving money but you'll be recycling as well. You may also consider investing in a rain barrel if you tend to use a lot of water on your plants. Don't be afraid to rinse out and reuse certain containers such as bottles and jugs as well.
8 answers