How to Save Money Each Month
What’s the one thing you can never have too much of? Money. Whether you are totally broke or just want a little extra spending cash, there are lots of easy ways to save money each month. My husband and I are extremely frugal (definitely him more so than I, but I still try) One of the things that I have always been good at is saving my money and coming up with interesting ways to make more money. If you are self-disciplined and want to learn how to save money each month then check out these ideas
How to Save Money on a Small Salary
Save Money Each Month with Budgeting
Before you start coming up with grand making money schemes the first thing you should do is take a look at your existing budget. Make a list of all your sources of income like your paycheck and all your expenses like rent, car insurance etc. Take a look at the numbers on the paper. What expenses can you eliminate? What easy ways can you increase your income (work more overtime? Ask for a raise?)
Cut back on subscriptions and memberships
The next thing you should do is get rid of extra memberships or subscriptions that you pay for monthly that you don’t need. I recently cancelled my gym membership and stopped having my house professionally cleaned. I save over $150 per month just by eliminating those two things.
How to Save Money Every Week
Wikibuy is an automated shopping assistant. It’s an extension you download on your Chrome web browser. When you shop online it automatically scans the internet for coupon codes that can be applied to your shopping cart and compares prices among online retailers so that you get the best price. I recently bought some new hair care products from Sephora. Wikibuy applied a coupon so that I got extra rewards points and a couple of bucks cash back. You can also add your debit or credit card though the app and save even more money. It’s an easy way to save on things you are already buying.
Save all your spare change
We have a spare jar in our house that we save all our collected coins. Every time we see spare change laying around or in the pockets of our laundry we put it in the jar. All those little coins add up. I took the big jar to a Coin Star change machine at our grocery store and got enough money back to fill up my gas tank.
Save even more by putting extra dollar bills in the coin jar too.
Don’t use cash to pay for anything? I know, I know, no one uses cash to pay for things anymore, it’s all about the debit and credit cards. My bank has an option to automatically round up my bill when I pay for something with my debit card and put the extra change into a savings account. It add up fast and it’s nice to know there is usually an extra $100 sitting around when I need it.
Check for employee discounts
I am self-employed through blogging and my jewelry business but my husband works as a delivery driver for a very large shipping company. Through his employer we are eligible for all sorts of discounts though other companies. I save 30% on my cell phone bill just because he works for that company. Check with your employer to see if there are any employee discounts available.
Take advantage of military and first responder discounts.
Many stores offer discounts for military veterans and their immediately families or discounts for first responders like law enforcement, fire fighters and EMT’s. My husband is a Navy veteran so we can get a discount at places like Lowes for our home improvement needs. Check to see what retailers near you offer discounts that you may be eligible for.
Carpool, take the bus or ride your bike to work
This is an old tried and true tip but it’s just as relevant as ever. Gas prices are crazy and let’s face it, they are never going to come down to how low they used to be. A car is one of the most expensive things your will own. You can save on gas, insurance, maintenance and car payments by carpooling, taking public transit or better yet, get some exercise and ride your bike to work.
Stop paying late fees and bank fees
By simply paying your bills on time you can easily save hundreds of dollars. If you forget (or don’t have enough money) to pay your cable bill, rent or or credit card bills you will be charged super high interest rates. These fees are totally avoidable if you just pay your bills on time. I know it can be difficult to keep track of everything that is owed and if you are living paycheck to paycheck things might be even more tight but that’s why you need to take my advice at the beginning of this post and go over your budget, figure out what you can afford and cut out what you can’t.
How to Save Money on Groceries and Household Goods
Use a cash back reward credit card for spending
The credit card I use gives me air miles points (I love to travel) but my husband’s credit card gives him 1-3% cash back for all his purchases. This adds up over time. Companies like Amazon offer cash back on their credit cards.
Many people freak out about credit cards and the potential they have to rack up a ton of debt with them. However, when used correctly a credit card can be a great tool to help improve your credit score. Just make sure you pay the full balance every month.
Buy everything used
I often think about what I am wearing and realize that everything besides my undergarments was bought used. Thrift stores and consignments shops are like gold mines for used clothing. You can get name brand, high quality clothing and accessories for just a couple of bucks.
I also buy a lot of my home décor and household items used. Check out vintage and antique shops for unique one of a kind furniture and décor items.
How to Be Cheap and Save Money
Get money back on things you already bought
Most stores have a policy that if the price drops on something you already bought within a couple of days or weeks they will refund you the difference. This recently happened to me with a bathroom vanity I bought at Home Depot. This price went down a week after I bought it. Because I signed up with Paribus I was notified and I saved an extra $100. Paribus is a company that scans your email for receipts and notifies and you when something you already bought goes down in price. They email give you instructions on how to get your refund.
Stop spending money on takeout coffee and food
This is a big one for me. When I drop my daughter off at preschool in the morning I usually get myself a coffee from the drive thru coffee stand to reward myself for getting up a the crack of dawn and dealing with a tired and cranky four year old while I am also tired and cranky myself. This adds about $5 or $6 per day to my budget or more if I get my daughter a bakery treat. I decided to ditch the drive thru and make coffee at home. When I want a treat I get coffee at McDonalds coffee since it only costs $1.
Do you order take out for your lunch every day at work? Stop it right now! By making your own lunch at home not only will you save a ton of money but homemade meals tend to be far healthier with less calories. Why not pack last night’s dinner leftovers instead of going to the food court?
What are your best tips to save money each month? Are you a spender or a saver? Let me know in the comments!