Save extra money with these 21 new ways provided in this article. You can harness these methods to afford your future rather than depending so much on credit to keep you going.
You’ll also be able to do some fun stuff, have a treat, make a desirable purchase, and even secure your children’s future.
So, check out these fresh ways to save extra money!
1. Go old fashion with the piggy bank
Piggy banks are still very relevant in our age despite the level of advancement the world has experienced. Having one at your home will help to create a constant reminder to secure those little change that hung around your clothes from time to time. At the year-end, all these little amounts would have created a significant amount to have your most favorable experience, purchase, or for some big-time investments.
2. Receive cashback over your purchases online
Get cashback when you go online to buy anything on sites like Rakuten, Ibotta, Swagbucks, and Earny. You’ll earn a percentage of money back when you buy things from several accepted stores. Even though this cashback may not seem really significant at the start, but you’ll have had a considerable figure over a period of time.
3. Use your car till it dies
Keep off big cash outlays, cut down car insurance, and evade car payments. Use your car to its fullest potential and get ultimately satisfied by the feeling.
4. Check out product reviews
Before you buy any expensive (or maybe not expensive) products, ensure to find out what other people are saying about it. Check online for reviews on the people, look up Amazon, forums, and different online stores for more information. You do not know how much you’ll be saving yourself by making this move.
5. You do not have to take up all the costs
Deferred or delayed gratification will help you make better decisions. Do not be in a hurry to put down your money to make an expense for pleasure. Delaying your buying decision will help you make more informed decisions. This element of self-discipline may be old and simple, but it is also one of the vital elements of financial success.
6. Check out for quality
Go for high quality stuff instead of cheap and low-quality items. Consider items you purchased way back when you felt you were saving by getting the low-quality options, but had to replace only within a short time. Having quality items that wouldn’t need to be replaced over a long period of time should be considered instead of the cheaper options that would break down easily. Being expensive doesn’t mean that it is better; do your findings on what you are putting cash on to make the best decision.
7. Exercise and work out from home
You can evade the monthly gym membership subscriptions by doing your workout at home, or considering a free option in your neighborhood. Get workout videos from the internet or from the library for your personal home exercise. You can also do some walking or running around the block.
8. Always ask for a discount
This one way to save extra money can seem a bit funny, but you never know what offer you’ll be able to get by just asking for a reduction on your purchases. For instance, your plumber may consider discounts simply because you asked. Even your preschool may think your loyalty deserves it. And a lot of online and traditional platforms now have structures to negotiate your purchase.
9. Do your own laundry
If you have extra time for your chores at home, then do your laundry to save extra money. Get less harsh detergents to avoid speedy fading, frizzing, and thinning of your fabric, so they can be used for a longer period of time without changing them.
10. Save on utilities
Build a habit of saving on your electricity consumption by turning off the lights after leaving a room. Use less water when necessary, and consider other ways to cut costs on utilities.
11. Prepare your own meals
Cut down on dining out. You’ll save yourself a lot by getting the groceries for your weekly or monthly meals at once, and meal prepping for fresh and timely meals. You’ll do your finances a whole lot of good by preparing your own meals and cutting down significantly on dining out.
12. Separate your savings
One of the ways to save extra money is to save in a separate account in a different bank. It really makes no sense saving and digging into it for some unplanned expenses that would suffocate your saving goal. So, consider opening a separate account in a separate bank for your savings.
13. Make your own gift items
You can learn gift-making on YouTube – that would be an extra skill you have acquired. Besides, making your own gift items would cut down on paying a lot for gifts you can actually create yourself at the gift store. You can put an existing skill to use or learn something new with your own gift baskets.
14. Shop thrift stores
You’d find good quality items that are less expensive at thrift stores. Most o the items are used but still in very good condition and would serve you for a considerable long time before you change them. There are online thrift stores like thredUP and many others for second-hand clothes, inexpensive tools, pots, dishes, picture frames, glassware, books, utensils, and many more.
15. Do not trust price tags
Do not have to trust price tags. Many of these local vendors and retailers are willing to open ground for negotiations if you ask. The price tags are just like a starting point for it. You’ll be amazed that even big companies would be willing to negotiate if you ask.
16. Set a spending limit
Setting a spending goal for yourself daily would help you to control your spending decisions and think more about things you buy before buying them.
17. Cut out bad choices
You can save some extra cash by cutting out excess partying, dining out, or smoking. Make it a goal to put that extra cost that would have gone into nurturing that bad habit into your savings.
18. Lower your interest rates
Call your bank or credit card company to request for a reduced interest rates on your loans. Many will allow you to negotiate it, and this would help you save hundred of cash in interest payments.
19. Review your monthly spending
Make a list of your monthly expenses and see things that need to be cut out to help you save money. You’ll find out that some negligible amounts have been going into some unnecessary expenditure. You may want to harness budget tools to help your decisions.
20. Cut up the credit cards
You’ll enjoy so much freedom by living on only what you make. Cut up credit cards and you may have eased the pressure and problems on you – no late fees, no interests.
21. Do your home maintenance and repair yourself
You should educate yourself with basic home repairs and improvement. There are quite a handful of things you can fix around without the need to employ an external hand. Check up on YouTube and Google for basic tutorials like painting, and many others.