If You Have Trouble Saving Money, Here Are Some Clever Tips That Might Help
It makes the world go 'round and it's something that we definitely wish we had more of. That's right, I'm talking about money.
User PaperBladee recently asked Reddit, "What is [a] clever way to save money, that most people don't realize?" and from big saving strategies to small lifestyle changes, these tips can help your dollar go a long way.
Online Shopping
Impulse shopping is something we're all guilty of, but a few users shared their hacks to quash the habit for good.
"Every time you fancy buying something 'special' (impulse buying), by [principle], postpone it for a week. If you forget, you really didn't need it." —paku9000 / Reddit
More Online Shopping Hacks
"'Buy' the item by transferring the money it would have cost into my savings account and treat the money as if it is gone. If at the end of the month, I really want the item, I buy it for real."
"So if I really really want something, I buy it at twice the price. More often than not, I don't even bother because I've forgotten about it or really didn’t want it in the first place." —Prepheckt / Reddit
Do It Yourself
"Learn to fix things rather than instinctively replacing them or paying someone to fix them. YouTube is quite educational." —AmigoDelDiabla / Reddit
But remember to take this with a grain of salt. While some home projects can be DIY'd, others are far more complicated and if done poorly, will end up costing the homeowner twice as much because they need to hire a contractor to fix their mistake.
Practice Your Culinary Skills
"Making your own food. It's creative and can save tons of money. Especially when it comes to eating out." —lookingForPatchie / Reddit
Eating out should be viewed as a treat. Not only is it less healthy, but between the markup on restaurant food, plus added costs like tax, tip, and delivery, the cost of a meal eaten at a restaurant or ordered to your home can quickly skyrocket.
Bring Your Own Lunch To Work
Whether you're a college student or an office employee, buying your food is often more convenient for your busy schedule. Unfortunately, it's not the most cost-effective. Many users suggested making coffee at home or bringing dinner leftovers for lunch, instead of buying something every day.
"I would spend almost $15 a day on breakfast, lunch, and morning coffee at work...[Eventually, I brought] my own food...So that was $15 a day, 5 days a week so $75 a week. $300 a month. $3600 a year." —KittyTheShark / Reddit
Think Like A Financial Advisor
Finances can be a tough road to navigate, but if you want your dollar to go far, you have to think like a Wall Street tycoon.
Other users suggest opting for credit cards that have cashback rewards and for longer-term savings, put your money in an investment account instead of a generic savings account with a low-interest rate.
Buy In Bulk
Whether you're a family of two or a family of six, buying in bulk can save you cash in the long run. In this case, bigger is definitely better.
This tip is particularly helpful for items that you stock up your freezer or pantry with, such as canned goods, pasta, proteins, and bread, and it also works for household items like pet food, laundry detergent, or toilet paper. Whether you use the product today or in a month, it'll be there when you need it.
Redefine "Entertainment"
It's a rainy day and you plan to spend it with your friends at the mall. It's often your go-to form of entertainment, but perhaps you want to rethink that.
Retailers aren't stupid. From catchy commercials to giant 50% off sale front door advertisements and cleverly crafted store layouts, retailers know how to lure you into the store. The longer you stay inside, the more likely you are to spend money.
Beware Of Marketing Keywords
There's a lot of brainpower behind marketing campaigns. Keywords such as "BOGO," "Sale!", "Up to XX% off," and "Limited time only" can entice customers to spend money that perhaps they didn't need to.
"Just because an item is on sale doesn't mean you should get it." —Pleasework94 / Reddit
Learn To Love Water
For a lot of people, water perhaps isn't your go-to beverage (considering the human body is 60% water, it probably should be). But the simple act of opting for water as your primary drink of choice could save you big—not just financially, but for your health too.
"Get a good reusable bottle or a bunch, and just bring one everywhere. It's the best thing for your health, and that 2-3$ tax [on] buying a drink whenever you're out is avoided." —Billbapoker / Reddit
The Art Of Negotiation
It's not just your day-to-day life that calls for pinching pennies, but also big life events, such as job interviews. From a higher salary to more vacation time, several users suggested that if you receive a job offer to counter back with a slightly better offer that could potentially get you more money in the long run.
"It's actually expected and there's pretty much zero risk in doing so as long as you don't turn it into an ultimatum." —femptocrisis / Reddit
Learn What's Important
So maybe you've just finished up a long and stressful week at work, or you've finally put away enough money to splurge on yourself. How can you treat yourself for a day but still be financially responsible? One user suggests figuring out what it is you really want.
"Learn what's really worth it. An overpriced day at the spa with meh services or a really good 90-minute massage close to home for less?" —Chubbymommy2020 / Reddit
Buy Secondhand Items
There's no shame in buying items secondhand. After all, why shell out full price for a new item when a gently used version is a fraction of the price?
Whether you're shopping for used home decor or children's toys, thrift stores, garage sales or Facebook Marketplace are a good place to start. Another tip is to keep an eye out for furniture that people have put out for free on their curb, and this is especially true at the end of the semester when college students are moving out.
Shopping When Hangry
Not only do retailers know how to lure you into a store, but they know how to keep you there too. Ever notice how staple foods like eggs and milk are in the back of the store? That forces you to wander and buy items you might not have before. And the chocolate bars placed at the checkout counter aren't a coincidence either.
One user suggested never shopping when hungry because those bags of potato chips in the snack food aisle and checkout chocolate bars will be far more tempting.
Save, Save, Save
"'Ten percent of all you earn is yours to keep'...After I read this I started transferring 10% to another bank account. Doesn't seem like much when you start but it starts adding up over time." —Key_Mood_5838 / Reddit
From each paycheck, after you've paid off major bills, take a small portion and transfer it into a separate savings account. If it's out of reach and out of sight, you'll be less likely to spend it.
Party Closer To Home
If you plan for a fun night out with friends at a restaurant or bar, it's no surprise that you're probably going to be shelling out quite a bit of cash. In fact, that's how establishments make most of their money—it's the huge markup on alcoholic beverages.
With that in mind, there's nothing wrong with going out to party with friends, but if you're looking for a cheaper alternative, buy your own beer or wine and celebrate with friends at home.
Make A Shopping List
Before heading out to the grocery store, make a list of all the items you want to purchase. You can write it down somewhere on your phone, or do it old school with a pen and paper.
This will ensure you get exactly what you need the first time and prevent mindless shopping, repeated trips to the store because you forgot something, or buying the same product too many times because you couldn't remember if you had it at home.
Name Brands Versus Generic
Some people love to flaunt their wealth by showing off their name-brand products, such as luxury cars, fancy cell phones, or designer clothing. But just because an item costs more doesn't mean it's automatically better—it just means you paid more for it.
From clothes to household items, sometimes it's worthwhile comparing name brands to their generic counterpart and seeing if you should make the switch.
