Saving money can seem like a monumental task, right? It doesn’t have to be. As long as you decide that you will do what ever it takes to save money and implement strategic steps to achieve this goal, it will soon become second nature. You will be on your way to saving like a Pro in no time. Are you ready to kick some money-saving booty? Here we go!
Step #1 – Reduce Your Expenses
Here are a few ways you can reduce your expenses. Whether you decide to use one or all of these tips, you will be saving yourself some cash.
- Cancel subscription services – Hulu, Prime video, Netflix, Vudu, etc. Do you really need ALL of them? Other subscription services like Apple music or Slacker radio can go too. There are so many free music apps out there that still let you enjoy your favorite jams without dipping into your wallet. Another culprit are those monthly subscription boxes. You know the ones. You pay anywhere from $20+ per month for a box of samples and specialty items. If you’re trying to save money, you don’t need these subscription boxes. Instead of giving that money to a company every month, give it to yourself and put it into savings.
- Reduce energy costs – this is more than making sure you turn your lights off when not in use. There are many ways you can reduce your energy costs. Replacing all the light bulbs in your home with energy-efficient bulbs is one way. Another way is to contact your utility companies and ask for a lower monthly bill. Some companies have special programs you can apply for that will give you significant savings on your monthly bill.
- Cut your grocery costs – Aside from the obvious “buy less” approach to cutting your grocery costs, there are a couple other ways you can accomplish this. Most big chain stores have reward programs you can sign up for that offer free items on a particular day of the month or even special sale items. I once got a dozen eggs for 12 cents. Those were the best penny eggs my family and I had ever eaten. LOL You can also purchase your produce at a local farmers market. Not only is the produce cheaper but it is locally grown and organic. This will help slim your waste line but fatten up your wallet.
Step #2 – Sell Everything
Okay, don’t be afraid. I am not saying to sell the sofa right out from under you. It’s more about selling the stuff that you no longer use or enjoy. Have a garage sale, sell your unused clothing to resale shops, post household items for sale on platforms such as Facebook Marketplace or Craigslist. You can sell anything online also. For example, when I finished college I had all of these expensive text books lying around that I knew I would never use again. I found a website called Sell Back Your Book where you enter your books ISBN number and it tells you how much they will buy it back for. Easy peasy. After you have sold everything you no longer need or no longer enjoy, put all that money into savings.
Step #3 – Auto Save
This is probably one of my most favorite ways to save money. Setting up your checking account to automatically save a specific dollar amount or percentage each month into your savings account. You can start with as little as $5 a month. Every penny counts when you are trying to save.
The way I do this is I have my checking account and savings accounts at different financial institutions. Then, I set up a direct deposit for a specific amount (mine is $100 per pay period) to be directly deposited into my savings account. This prevents me from being able to transfer the money back to my checking account if they were both at the same bank. I am kind of lazy so if I know I have to put on clothes other than jammies, climb in my car and drive to the bank to withdraw money from my savings account, I will probably pass on the idea. A perfect example of how it pays to be lazy…sometimes. Ha!
Step #4 – Discounts
Ahh! I love a good discount, don’t you? It doesn’t matter where I am or who I am with…I will ask for a discount. A lot of places will offer discounts to seniors, students, AAA members, AARP members and military. They even have discounts for people who are members of their rewards programs. All you need to do is ask.
I also work for a large healthcare company so I will even ask if they offer discounts for their employees. Just doing this alone has saved me money by receiving a monthly discount on my cell phone bill and on my husband’s haircuts. Moral of the story is to always ask for discounts, no matter what.
Step #5 – Get Your Hustle On
You knew this was coming, didn’t you? Yes my friend. If you make more money, than you will be able to save more money. Now, unless you are able to find a higher paying job or are able to go back to school, the easiest way to do this is to get yourself a side hustle. Here are 3 side hustles you can start using right now to earn extra money. Whether this be by linking your debit card to a cash-back app or freelancing as a proof-reader online, there are so many ways you can start a new side hustle that will generate more money for your pocket. Here are a few of the side hustles that I use to generate extra income:
- Make YouTube videos
- Sell hand-made items on Etsy
- Sell clothing on Poshmark (sign up using invite code JUSTMELISSAJANE and get $10 free)
- Get paid for surveys with Swagbucks
All in All
Implementing one or all of these steps is going to set you in right direction with saving like a Pro. Saving is like a game. Look for new ways to save money and make them part of your routine and you will be able to save money without even thinking twice about it. Now that is worthy of Pro status!
