Saving money is at the top of many people’s minds, especially during tough economic times such as these. You should also try to increase your income if you can. But in this economy most families will have to pull back on their spending to make ends meet. Below are five simple ways that you can cut your monthly expenses without having to downgrade your lifestyle one bit.
Stop Being Wasteful
The obvious place to begin is by reducing the amount of money and stuff that you waste. Get the kids in the habit of turning the lights or television off when leaving a room. Unplug phone chargers or turn off power strips when not in use to reduce phantom loads. Eat leftovers rather than letting them spoil at the back of the fridge. Get your shopping done in one trip rather than making multiple trips throughout the week. Little things like these will add up and save you plenty of money throughout the year.
Sign Up for Coupons, Email Deals and Smartphone Apps
Free stuff and discounts are everywhere if you know where to look. Sign up for shopping programs at every store you frequent to save on everything from groceries to toilet paper to fast food and gas for the car. Download the apps for all these stores and join all their email lists and snail mail lists too. Most major grocery stores mail out entire coupon books a couple times per month with lots of discounts and even free items.
Never Pay Full Price
With a little forethought and savvy shopping, you can plan out your purchases so that you never have to pay full price for anything. The key is to stock up whenever items are on clearance and stack the discounts by using coupons on those sale items. And if you can purchase gift cards at a discount, such as by purchasing them at Costco, then you can buy the item on sale, use a coupon and use the gift card that you purchased for 20 percent off. That’s a powerful one-two-three punch right there!
Do It Yourself
Learn to fix things around the house by yourself. You can purchase a decent set of basic hand tools at a swap meet or yard sale and watch YouTube videos to learn how to fix just about anything. You can also buy auto parts for cars online and perform basic repairs and maintenance yourself to save hundreds of dollars per year.
Buy Quality Products That Will Pay for Themselves over Time
Lastly, stop buying cheap products that fall apart after a few months. It seems like you’re saving money when you buy that junk, but if you’re buying a replacement every year or two, then are you really saving money? Buy a quality-made product that will last for a decade or two and you’ll save more money in the long run.
Saving money doesn’t have to be hard, and it doesn’t have to be painful either. By following these five money-saving tips and leaning into frugality, you can save hundreds or even thousands of dollars every year for your family without having to make any real sacrifices.