We could all use a little extra cash. But sometimes it’s just not possible to hustle for a promotion at work or change jobs to make a little extra money with each payday.
However, you can boost your budget by learning how to save money. Think it’s hard? Think again. In fact, let’s break down six ways you can save money instantly starting today:
- Make more food at home
- Cut subscriptions you don’t use
- Ride a bike to work or use public transit
- Buy supplies in bulk
- Choose generic brands
- Buy energy-saving appliances and devices
Make more food at home
For starters, don’t eat out as much. Tons of people eat out all the time… and that really eats into their wallets. According to CNBC, Americans spend, on average, $10 per meal that they eat away from home. This can easily add up to over $2500 per year for a single person when buying just one meal per day.
Instead, consider cooking your own meals. Not only will this help you save money instantly, but it will ensure you’re getting enough nutrients from your diet. Much of the food at restaurants is overly salty or sugary, which may contribute to America’s obesity crisis.
Cut subscriptions you don’t use
Next, cancel any subscriptions to streaming services, online games, or mystery boxes that you don’t use. Odds are you subscribed to watch a specific show and then forgot to cancel your subscription to Apple TV, Netflix, or some other streaming platform.
All those subscriptions can add up over time, costing you $100 or more per month when combined! When you no longer have these, you can then take that money and use it to snowball your debt into a more manageable amount.
Ride a bike to work or use public transit
Owning a car is expensive even after you make the purchase. You have to make regular car payments (unless you buy the car outright), then pay for insurance, gas, and regular maintenance.
You can save money by riding a bike to work or using public transportation resources, such as buses or subway systems if you live in a metropolitan area. It may take a little longer, but if you ride a bike or walk to work, you might also become more fit over time!
Buy supplies in bulk
When buying household necessities like toilet paper, salt, or other supplies, try to buy them in bulk from retailers like Costco. Buying things in bulk is always cheaper than buying them in smaller packages. This saves you money and is better for the environment too.
Choose generic brands
Similarly, you can learn to save money by buying your products from generic brands rather than from big label brands. This is doubly true when it comes to food supplies and groceries. In many cases, there are no real differences between generic brand products and branded retail products… aside from the asking price.
Buy energy-saving appliances and devices
Last but not least, you can save money by purchasing energy-saving appliances or devices such as lightbulbs whenever possible. This will cost you more money upfront, but you’ll save money over time. Just compare your energy bills one month after installing a new energy-saving device to see the payoff.
With all these money-saving tips, you’ll be well on your way to a healthier bank account in no time.
