As much as we want to save money, let’s face it, sometimes it can seem like an unbearable chore, even when we know that we need to. With that in mind, here are a handful of ways to save money with little effort in order to reach success.
Watch the Utilities
Utility bills can easily get out of hand if you are not careful. However, it’s easy to save on your energy bill but engaging in a few simple habits. Try setting a timer when you take a shower to shave a few minutes off running the hot water. While you’re at it, turn the thermostat down by two degrees. These may not seem like much savings when looked at in an individual manner, but over the course of a month and especially a year, the savings really add up.
One potentially interesting way to save money at the grocery store is to replace 2 or 3 items from your shopping list (hopefully you are working off a list, as that’s a great way to avoid impulse purchases), every time you go to the store. This could mean replacing meat with some beans or other legumes or replacing frozen meals with the actual ingredients to make the meals yourself. There are so many ways to do this that you can actually make a game out of it, especially if you have children.
You may have heard this tip before but most people don’t take full advantage of the opportunity. The goal isn’t to clip coupons and buy things that you normally would not. The goal is to clip coupons and save money on items that you already buy. If you shop online, look for free shipping offers or steep discounts for first-time shoppers.
Most of us have student loans but when was the last time you really took a hard look at yours? You may be eligible to take out a new loan and refinance your existing student loans and secure a lower interest rate while you’re at it. The best thing is that you can check out a student loan refi calculator to check out what your new payments will look like before putting pen to paper and signing the loan agreement. It’s a no-lose situation to place yourself in when it means long-term savings.
Tuck A Buck
Many people subscribe to the tuck a buck method. This means to simply tuck a buck or two away every day and let it add up. By doing this every single day without fail, you can save several hundred dollars guaranteed within a year. You can also try cutting out some of the smaller things in life such as buying a coffee every day and just set the timer on your coffee pot to brew at home. It is much easier to dump one or two smaller things than get rid of the larger things in life.
By setting up your investment account to automatically make withdrawals from your checking account, you are investing in your retirement without the hassle of moving funds around and the temptation of avoiding contributing. Since it is done automatically, you won’t even notice the withdrawals after a while.