Saving money is an art. And some people have mastered it better than others. Usually, it is the small things that add up in the end. As a frugal person, anything that can help you save money without bordering on cheap is welcome. Here are some interesting life hacks that other people use to save money.
The 72-Hour Rule
This rule is meant to help people avoid impulse purchases. Do not buy something that is not a necessity immediately. Instead, put it on a list and let it rest for 72 hours. If after this time you still want it, go ahead and buy it. If not, forget about it. This strategy has helped over 80% of people who used it to avoid impulse buying.
Look at the Unit Price at Your Grocery Store
Many people do not bother looking at unit prices when they are at the grocery store. Sure, it may be cheaper in the long run if you are buying something that does not expire in bulk, but it can help you save money when buying small, individual units of products. You could also download the CompareMe app on IOS that breaks down prices per pound or ounce so that you can get maximum value for your money.
Buy Reusable Products
This tip could also do wonders for our environment. Single-use products (especially plastic water drinking bottles) are a menace to the environment. We can buy reusable bottles, cups, and dish towels in place of paper towels. The savings may be small, but they add up over a period.
Buy Tools if the Repair Costs the Same as the Tool
If you do so, you can save money whenever you want to do the repair again because you will have access to the tools you need.
Check Your Money Regularly and Stick to a Budget
Make a habit of logging into your online account and check how you are spending your money. You will notice a pattern and find out where your money goes. Seal those money pits by creating a budget and sticking to it. You can use a saving app like YNAB for this.
Track Your Finances
A simple spreadsheet will suffice for this. Start with the estimated expenses at the beginning of the month/certain set period and then compare with the actual expenses at the end of that period. You will see where you overspent and where you could cut back and save more. This will help you avoid unnecessary expenses. You can share it with someone you trust to keep yourself accountable.
Avoid Payday Loans if Possible
Payday loans offer very high-interest rates, and if you are not careful, you can be caught in the cycle of paying the loan whenever you get money, only to immediately borrow because you do not have money to use, and the interest payments are brutal.
Live Like a Smoker, but Do Not Smoke
This is an interesting approach that could help save some money every week. Someone said that if smokers can afford to buy a packet of cigarettes daily, even at a low income, they can afford to put ‘money for smoking’ aside as well, even if he does not smoke. Eventually, this amount adds up to a tidy figure. Smokers should try to avoid smoking and save the money instead. It will also be good for their health.
Get a Library Card
A library card offers much more than just reading books. Depending on your state, you can access zoos, museums, and other public spaces freely. You also get to read books at your discretion.
Save All $1 Bills
Instead of spending $1 bills and anything less than that, collect them in a box. When you break down the box, you will be surprised to find that you have accumulated a decent amount by the end of the year. You can use the money for Christmas presents or buy yourself something nice.
Plant Fruit Trees if You Have Idle Land
Instead of keeping your land idle, plant fruit trees. Go with trees native to your zone. You may not necessarily make much money by doing this, but you will feel nourished and refreshed having fresh fruit for consumption in your home within a few years.
Avoid Store-branded Food Items
Almost every store (Safeway, Kroger, Dollar General, Costco, and Walmart) outsource their canning facilities to other people. If you strip off their excellent packaging, you will find they have the same quality as other non-branded items. And those non-brand items cost much less.
10 So-Called “Frugal” Habits That Are Actually A Waste Of Time And Money
Do you know any things that people do that they think are frugal but actually aren’t saving them money but sometimes are just wasting their time and money?
I am sure you have read articles and tips that promote frugal living and give some ideas that are just not frugal! These frugal myths float around and sometimes even cost people a lot of money!
12 Extreme Frugal Living Tips You Can Try
A Reddit user was curious to know the extremely frugal things people did that they didn’t tell people about. He gave an illustration that he used to collect promotional coffee sachets on top of car windows and that saved a ton of money. He wanted to know whether other Reddit users did extremely frugal things that they did not want other people to know.
15 Tips For Frugal Living On A Tight Budget
If you are looking for tips for frugal living on a tight budget, this post is for you.
Being on a tight budget means looking for even the slightest opportunity to save money. It could be saving to clear your loans, for a bigger purchase, or even for early retirement.
12 Extreme Frugal Living Tips You Can Try
A Reddit user was curious to know the extremely frugal things people did that they didn’t tell people about. He gave an illustration that he used to collect promotional coffee sachets on top of car windows, and that saved a ton of money. He wanted to know whether other Reddit users did extremely frugal things that they did not want other people to know.
12 Not Very Obvious Sign That Someone Is Rich
It is easy to know when someone is rich. However, sometimes it is not obvious. One Reddit user wanted to know what non-obvious signs pointed out that someone was rich. We have sampled some of the best responses from other Reddit users in that conversation.
This article was produced and syndicated by A Dime Saved.