One strategy to Financial Freedom is to earn more income. That isn't always possible depending on personal circumstances and the job economy. Therefore, another strategy is to save more of the money you already earn! Here are some tips you can apply to your own life today to start saving more money this week for bigger savings this month! I challenge you to save money!
45 Ways to save $45
1. Create a shopping list, stay disciplined and only buy what you need.
2. Don’t use ATMs with fees. Always plan ahead.*
3. Switch Bank accounts if your bank charges high fees.*
4. Always pay off your credit cards on time!
5. If you need a credit card, find the card with the lowest interest rate and lowest yearly
fee.
6. Have lower premiums on your insurance policies.
7. Consider higher deductibles for your home and auto insurance based on what you
need.*
8. If you’ve built up 20% equity in your home, you can cancel your private mortgage.*
9. Order your prescriptions online for long-term prescriptions.*
10. Ask your doctor for the generic drugs; never buy name brands.
11. Rent or borrow something you’ll only use a few times. Never buy it. *
12. Do a Garage Sale / Yard Sale to sell things you don’t need or use.
13. Change your mobile phone provider for better deals and lower rates. Pay as you go /
Prepaid phone plans are another option.
14. Cancel phone / TV / Streaming subscription services you don’t need.
15. E-mail / text / WhatsApp your friends instead of calling.
16. Don’t go to the movie theatre. Instead, rent a movie (i.e. Redbox, YouTube, Amazon
Video)
17. Don’t eat out at restaurants. Cook at home.
18. Make your own lunch for work/school.
19. Use the library to find books you need. It’s FREE!
20. Cancel any subscriptions you never use or rarely have time to enjoy (e.g. newspapers, magazines, Disney Plus, Netflix, etc.)
21. Find FREE entertainment options. Examples: Picnics, Music in the parks, parades,
culture festivals, etc.
22. Carpool to work / school or use public transportation if it’s available.
23. Plan ahead for your transportation options and don’t use Uber, Lyft, Bolt, etc.
24. Buy airline tickets in advance.
25. Join a community center gym or make a simple gym at home. Buying a yoga mat and a
few weights are a lot cheaper in the long term than a gym membership.
26. Plan your purchases around Coupons, Discounts and Holiday Sales. Ex. Groupon.
27. Buy generic everything. The same ingredients are used in generic as the name
brands.
28. Don’t buy paper towels, use cloths instead. *
29. Don’t buy convenient foods. They cost more and aren’t usually healthy for you.
30. If you have a big family, join a warehouse club to buy in Bulk (Costco, Sam’s Club, etc.). You can also visit YOUR LOCAL FOOD BANK for food and supplies when times
get really rough. These non-profit organizations are there for these moments in our lives.
31. Always check your receipts — mistakes do happen. *
32. Avoid expensive stores.
33. Online shopping is most often cheaper than at a physical store. Shop online whenever
you can.
34. Use Regular Unleaded gas unless your car specifically requires it. Check your manual
to be sure.
35. Wash your own car.
36. Find discount free sites like Groupon, Living Social or related sites to get a quick-
oil change and lube service.
37. Layer up for winter to reduce your electric bill for heating. Use sweaters, blankets, hot
water bottles, etc. But don’t FREEZE YOURSELF! Dedicate a special time to have the
heater on and maintain it.
38. Take a shower instead of a bath to save water and money on your water bill.
39. Only run a full dishwasher.
40. Never pay extra for car rental insurance — check your coverage from your credit card
company or your car insurance company. Many offer free coverage.
41. DON’T PLAY THE LOTTERY! It’s a waste of time, money and hope.
42. Watch for the best interest rates if you are trying to refinance your home.
43. Pay yourself first. Pay your savings, your investments and then your bills. Spend the remaining on fun.
44. Have a piggy bank for the spare change you have lying around.
45. Invest your raises from your job or add them to your savings.
*A few of these tips were recommended in the book Multiple Streams of Income by Robert Allen. I highly recommend reading this book!
📢Need financial advice? Contact me for a 1-on-1 financial coaching session!
コメント