The Best Fifteen Money Saving Hacks for Everyday Life

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Here are some effective money-saving hacks that can help you manage your finances more efficiently:

• Create a Budget: Track your income and expenses to create a detailed budget. This will help you understand where your money is going and identify areas where you can cut back. Always remember to create a realistic budget, that will allow for alittle freedom to continue to do the things you love. Most people that create an extremely restrictive budget tend to do great at the beginning and then blow their progress during an expensive vacation.
• Automate Savings: Set up automatic transfers to a separate savings account. Treating savings like a regular expense can help you build up your savings without thinking about it. Acorns, is a great app that allows you to increase your spend to the next dollar on any purchases made- the change transfers directly to a saving account. Over time the “change” accumulated can increase into a small pile of cash, and if invested, can enjoy compound interest over years.
• Cook at Home: Eating out can be expensive, especially with a large family. Plan meals, grocery shop, and cook at home to save money and have more control over your daily spending habits. Not only is cooking at home financially better for you, it also is diet/health friendly. When cooking at home, you are aware of exactly what is placed into your meals and able to better watch for hidden calories or unhealthy salt and fats.

• Use Coupons and Cashback: Look for coupons, deals, and cashback offers before making purchases. Coupon clipping has long been a financial hack used by many generations. Now that we have entered the age of cell phones and the internet, we no longer have to buy the paper to have access to coupons and direct savings. There are many apps and websites that can help you find discounts- clip or link to your account and away you go!
• Limit Impulse Purchases: Avoid making impulsive purchases by giving yourself a cooling-off period before buying non-essential items. Rule of thumb is to come back 2 days later if you still wish to make a large purchase. The “cool off” period helps you to avoid making impulse buys and having buyers regret down the line.
• Buy Generic Brands: Generic or store-brand products are often cheaper than name-brand items and can be of similar quality. Always make sure to review labels and specifics prior to buying products.
• Cancel Subscriptions: Review your subscriptions monthly- whether they’re for streaming services, magazines, or gym memberships. Cancel those you don’t use regularly or no longer need. Subscriptions can be a money drain as they are pulled from your account on a regular basis and many people tend forget they have even signed up for a service until reviewing their accounts….. sometimes a 100 dollars later.
• Reduce Utility Costs: Turn off lights when not in use, unplug electronics, and consider using energy-efficient appliances to save on utility bills. Not only is this a good idea for your wallet, but turning off lights and removing energy draining devices from power sources is an environmentally friendly idea.

• Shop Secondhand: Check out thrift stores, consignment shops, and online marketplaces for gently used items like clothing, furniture, and electronics. And on the flip side, if you have extra clothing, books, goods, etc. that you are looking to spring clean, you can always sell on the side for extra cash.
• Negotiate Bills and Comparison Shopping: Call service providers and negotiate lower rates on bills like cable, internet, or insurance. Always look for deals and opportunities to shop around to get the best bang for your buck.
• Use Public Transportation: If possible, use public transportation instead of driving to save on fuel, parking, and maintenance costs. Depending on where you live and proximity to work, school, etc, public transportation is always a smart way to get around. Review routes and the website prior to using to avoid getting lost or ending up in the wrong neighborhood at night. Always be aware when traveling in unknown areas of town.

• Cut Back on vices: If you smoke, drink alcohol, or have other expensive habits, consider reducing or quitting to save money and improve your health. In our college days, we use to “pre-game” prior to heading out to the bars for a drink with friends. I am not recommending or promoting drinking, however, if you are looking for ways to save (and of age), having a cocktail with friends can decrease the number of $15 cocktails ordered during the night.
• DIY Projects: Tackle simple home repairs and projects yourself instead of hiring professionals. DIY projects are fun and can be very cost effective, however, mistakes can be extremely costly. Always make sure to do your research prior to starting a new project. There maybe opportunities to split the project- have a professional complete the electrical wiring, while you get your hands dirty with replacing the drywall and painting.
• Bundle Services: If possible, bundle services like internet, cable, and phone to save on monthly bills.
• Bank Fee Awareness: Choose a bank account with no or low fees, and be mindful of ATM fees and overdraft charges. Always read the fine print prior to signing up for a new account or credit card!

Remember that every individual’s financial situation is unique, so not all hacks may apply to you. The key is to find strategies that align with your lifestyle and financial goals.