8 Lifestyle Hacks to Help You Save Money, For many of us, saving money isn’t as easy as it sounds. We live in an expensive world and have to deal with living expenses that just seem to keep going up without fail. Whether you have student loans, car payments, or are just trying to get your career started, it can be tough to find extra cash at the end of the month. Fortunately, there are some lifestyle hacks you can employ to help save some extra money throughout the year that doesn’t feel like work or hardship at all. Here are eight lifestyle hacks that you can use to help save money in no time!
Create A Wish List
Create a wish list of 5 things you would like to purchase if money wasn’t an issue.1. _______________ 2. _______________ 3. _______________ 4. _______________ 5. _______________ now think about how you can use your current income and/or assets to make these purchases happen over time rather than all at once so you don’t have to go back and revise your list again anytime soon! What else can you do with what you have now? What lifestyle changes can you make so that someday, long into your future, these 5 items will be possible (if they aren’t already!)? How much would these things cost after a year or two’s worth of cuts in expenses, if not sooner?
Cut Out Cable
Cutting out cable TV will save you money on your cable bill and can be a great first step towards saving more in 2018. While no one likes having to watch bad TV with commercials (ask me how I know), an antenna is a simple solution that gives you access to most of your favorite network shows for free.
Plus, there’s nothing better than unwinding on a lazy Sunday with movies like The Walking Dead or Game of Thrones—you don’t even have to leave home! With new services like Sling TV and PlayStation Vie, which offer live streaming of channels from popular networks, cutting out cable doesn’t mean cutting out TV completely. Just make sure you weigh all your options before getting rid of one or more pay-tv services.
Monitor Your Bank Statements
Do you spend a lot of money on groceries every month? Electricity? Cell phone bills? It’s easy to fall into a lifestyle creep where more and more money is going out of your account, but it’s not always clear where. Get in touch with your spending habits by monitoring bank statements and credit card charges every week or two. If you notice there are significant (and not-so-significant) expenses that don’t align with your goals, create a plan for how you can cut those out.
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Shop at Thrift Stores
Thrift stores are a great way to find designer clothing, vintage items and quality furniture on a budget. The staff is usually knowledgeable about what they’re selling, so you can get help when you need it. If a shirt doesn’t fit, they can direct you to similar clothes that do—or they might even be able to alter it for free. Thirsting is a fun way to discover hidden gems in your own city or while traveling.
Eat More Veggies
Almost every thrift store accepts clothing donations, so what are you waiting for? Donate your used clothing and/or household goods (if they’re still in working condition) and use that money to shop at thrift stores. Unlike regular stores, almost every thrift store is run by a non-profit organization or religious group. If you find yourself with some extra cash in your pocket, consider donating it directly to one of these organizations.
Spend Less on Coffee
In today’s fast-paced world, we rely on caffeine as a part of our daily routine. Although coffee is considered a staple in many households, it can be one of your biggest money drains if you aren’t careful. One cup of brewed coffee at Starbucks costs $1.95 and from there, it just gets pricier depending on what you order! Save more money by brewing your own coffee at home (and skipping lattes!)—it might even taste better than what you get at that trendy café.
Get Rid Of Unused Items around the House
We’re all guilty of collecting stuff. Maybe you’ve been holding on to a shirt you haven’t worn in years, or an old family album that’s not even that special anymore. To save money, start downsizing your personal belongings. Throw away or donate anything you don’t use on a regular basis and give you permission to part with some items.
Have Zero-Based Budgeting Conversations with Your Significant Other
If you’re in a serious relationship, sitting down with your significant other is a good way to establish clarity about your financial goals. The idea behind zero-based budgeting is simple: Take your total annual income and allocate all of it—minus any money that has already been set aside—to specific categories of expenses. If you plan on buying a new car, for example, and will require $3,000 toward that goal (either by cutting back on spending in other areas or taking on some debt), keep only $3,000 set aside as car fund. But if you end up not needing that full amount, use that extra money to pay off credit card debt or start an emergency fund.
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Conclusion
If you want to save money, it’s simple: spend less than you earn. If you know how much money you make and how much is spent on expenses, it should be easy to figure out where your money goes—and what needs trimming. The number one thing that people can do when trying to save more is limit their spending outside of rent or mortgage.
If you live in a house with roommates or family members that can be tricky because everyone has different income levels, but there are plenty of things within your control (like paying off loans and student debt). Others are even simpler like lowering electric costs by turning off lights in unoccupied rooms and using energy-efficient light bulbs.
