5 Simple Ways to Save Money Every Month

 

5 Tips To Save Money Every Month

All right, let’s be real here, saving money is sometimes like a war, am I right? Every time you attempt to save, something entices you to spend. Whether it’s that shiny new gadget you’ve been eyeing or a spontaneous meal out with friends, saving can feel like it’s always two steps too far. But what if I told you that you don’t need to make major sacrifices to begin saving money? Fact: There are some really easy, almost painless ways to squirrel away some cash each month, and best of all, you won’t even miss anything.

I’m a pro at finding simple ways to save, so I thought I would share 5 easy tips that have worked for me. These are things that I’ve been doing for some time, and honestly, they’ve made such a huge difference with little energy exerted. So, let’s dive in!

1. Begin With Tracking Your Spending

All right, I know, I know — this one’s kind of basic. But trust me, when I began following where my dough was going, I was shocked. I wasn’t spending recklessly per se, but definitely some sneaky expenses managed to creep in over time and add up without my notice.

For instance, I would get coffee from my favorite café every day. It was only $3 and, once I started keeping track, I realized I was spending something like $60 a month on coffee alone! That’s where I was like, “All right, I could absolutely make coffee at home and save a lot of money.”

The first step to know where to make cuts is keeping track of your spending. Tons of apps exist to help you do this — to the point where some even connect to your bank account and categorize your expenses for you. I began with something as basic as a notebook, but when I started seeing the number, I could see very clearly, very specifically, where I could make little tweaks. Try it for a month and see what you notice. It’s eye-opening!

2. Here’s How to Automatically Transfer to Your Savings

What’s really saved me has been automating my savings. So this may seem a bit “set it and forget it,” but it’s actually among the simplest things you can do to save without even thinking about it. It was a matter of establishing a small, automatic transfer from my checking account to my savings account immediately after payday — all I had to do was set it up.

It doesn’t have to be a lot — even a few percent of your income will be fine. The trick is to automate it so it gets deducted before you have an opportunity to spend the money. I began with $50 a month, and in a few months slowly forgot it was gone. But, as time passed, that $50 became a nice little emergency fund. If you’re struggling so much that you’re not sure you can afford it, get smaller — just ensure that it’s something you won’t miss.

The best part? That money doesn’t seem like it’s even gone. Out of sight, out of mind, no? So when something unexpected happens, like a flat tire or a sudden doctor’s visit, you’re not scrambling to find cash because you already have that safety net.”

3. Eliminate Unused Memberships

We’re all too familiar with the spiel — signing up for streaming services, gym memberships, meal delivery plans, apps, the works. All of these sound great in theory, but unless you’re using them on a regular basis, it’s just money up in smoke.

So did I, when I considered my subscriptions. I had three separate streaming services (because, like, I needed options), a gym membership that I hadn’t been using, and a couple of apps that I’d signed up for, like, once and then forgot about. When I crunched the numbers, I realized I was paying around $100 a month in subscriptions I hardly used!

But I went through my subscriptions one by one and eliminated what I didn’t need. I held on to the streaming service that I used the most, put my gym membership on pause and unsubscribed from a few apps that were simply picking my credit card clean each month. Cutting down on those little “set it and forget it” payments freed up more than $70 a month for me without really changing much about my lifestyle.

This weekend, spend a few minutes reviewing your bank statements and check if you’ve got subscriptions that you no longer are using or you don’t need at all. You’d be amazed how rapidly those small amounts add up over time.

4. Cook More at Home

Getting takeout is nice and all, but too much of it can bust your wallet. I understand it’s a long day, and sometimes cooking is one of the last things you want to do. But trust me, your meal-at-home costs are far cheaper (and often healthier) than the nightly takeout run.

I have been guilty of this myself.” There was a time I ordered food most days, whether it was lunch or dinner. Yet when I started meal prepping and cooking more frequently at home, I saw how much I could save. If, for instance, I cook a big pot of pasta for dinner, I can stretch it over a few days — maybe even put a scoop of leftovers in the freezer for later. That’s much cheaper than ordering takeout every night.

If you don’t have time, try batch cooking on the weekends or throwing together easy meals that require little effort. It doesn’t need to be any kind of fancy — just stuff like pasta, rice bowls or salads with some grilled chicken or veggies can get you really far. And cooking at home gives you control of portions, so you’re likely to eat healthier as well.

5. Make Use of Cash Back and Reward Programs

I’m all about getting something back for money spent, so I began using cash-back apps and reward programs. There are loads of apps that offer cash back or points on regular purchases — groceries, gas, online shopping, the works. These seem like relatively minor savings at first, but in the long run, they compound.

For instance, I have a couple of cash-back apps I use when grocery shopping — while the amounts aren’t significant, it’s nice to see a few extra bucks in my account come the end of the month. I’ll also sometimes redeem those points for gift cards, to use during holidays or special occasions.

Many credit cards also come with reward points or cash back, so if you’re already spending money, you may as well get a little something for it. Just make sure you’re doing the rewards in a smart way, and don’t let the temptation of earning rewards lead you to overspend for stuff you don’t need.

Ultimately, saving money does not mean sacrificing every thing you love or living like a monk. It’s about being mindful about your habits, making small tweaks and figuring out ways to make your money work harder for you. The great thing about these tips is that they are simple, easy to implement and don’t involve much effort. So, why not start today?

I dare you to choose at least one of these tips and try it out this month. Whether it’s tracking your spending, canceling subscriptions, cooking more at home, I promise you will see the difference. And hey, update me about it! I’d love to know more about your savings journey and any tricks you might have up your sleeve. Let’s save money together!

Location:

Share :