10 Money Saving Tips
We are all different. But we all want to save money! Everyone has their own way to save money. This is why we will go through 10 strategies that you can adapt for yourself and you can pick the strategies that you want. Let’s start!
1 | Track your spending
Track your spending because often the things that you spend the most on are the little things.
Often you don’t take into account how much you spend in your everyday life, and often this is here where you spend the most.
As you probably know there is a lot of applications that can help you to track your spending.
Probably that your bank has an application that permits you to track your expenses.
If your bank does, use it, you will save a lot of money by tracking your expenses.
Try! You will probably be shocked to find out how much you’re spending per month on these little things.
2 | Control your impulses
Today the marketing plays on desires more than never.
You have advertisements everywhere, you have brands that plant in you the seed of the desire.
So control your desires “is the thing that you want to buy worth it ?” “are you going to use it for a long time ?”.
Because often people follow their desires and their impulses.
By making that you lose yourself in the person that the brands want you to be.
If you reflect before buying you will spend a lot less money because you’ll understand when this is just an impulse that is going to make you buy something that you don’t need.
3 | Bill smoothing
It’s a payment system offered by utility providers (electricity, water…).
Instead of paying them one time at the end of the year, you’ll pay them fortnightly or monthly.
It protects people from having to go into debt and potentially pay interest.
4 | Make a saving goal planner
If you are here it’s because you want to manage better your money.
Therefore, you should make a saving goal planner.
How much do you want to save at the end of each month of the year?
How much do you want to save at the end of the year?
Only you can respond to these questions.
Just make an excel planner that you can adapt in the future.
Having a saving goal planner will make you more serious about saving money.
5 | Cancel automatic subscriptions and memberships
I suppose that you’re paying for multiple subscriptions (Netflix, Spotify, Deezer, Amazon prime, Gym…).
Have you ever calculated how much does it cost in total per month?
Subscriptions seem to be cheap, but because you pay them monthly they become really expensive…
Imagine how much money you could save per year if you cancel the subscriptions that you don’t often use.
You should consider this way of saving money.
Take a look at what you really use, what is indispensable for you.
6 | Compare the prices
If you find something that interests you, that you absolutely need don’t buy it directly.
Take a look at the price of this product/service on other platforms.
Clearly buy these things on a website that you can trust…
But always compare where you can find what you want to find for the cheapest possible.
7 | Start to invest
Now that you have started to save some money you should make your money work for you.
Have you ever read ‘Rich dad Poor dad’?
This is exactly what this book is about.
Make your money work for you.
So you can invest your money in your business if you have one or in stocks.
Nowadays a lot of people are starting to invest their money because applications that simplify this are coming from everywhere.
Perhaps that you know what is ‘Robinhood‘ for instance (this the app that I recommend if you live in the United States).
If you live in Europe I recommend ‘Trading 212’. By clicking on this link you will get a free stock of up to 100 USD/EUR (this is literally free money).
If the link didn’t work you can add my code HEzPUESm.
This is the best app that you can get to invest in Europe. (By the way, there is no commission).
8 | Reduce energy costs
Everyone knows this way of saving money. The little things that you do every day can reduce the energy costs like taking a short shower, taking light bulbs that use less energy…
You can go deeper into this subject by going here.
9 | Stop your bad habits
We end this list on something important.
Approximately 34 million people in America are smoking, a bunch of people is also drinking alcohol and other bad stuff.
Junk food also is a bad habit that costs money.
And there are a lot more bad habits that are costing a lot of money.
When you add up all these costs in your bad habits (if you have some) you see crazy numbers.
That’s like the subscriptions it seems cheap but at the end of the year, it seems insane.
Here is a list of bad habits.
10 | Watch your saving grow
Now that you have all these tools to start saving money you need to check your progress every month.
It will help you identify problems that you probably didn’t see at first and it will help you to stick to these habits.
You can start to see how much you want to invest per month with the money that you’ve save for instance.