No matter where you are right now on your financial journey, you should know how to save money every day and that it’s possible for anyone to turn their financial life around. You have to be willing to make some sacrifices every now and then and to persevere so you can reach your goals. Keep in mind that sometimes the first step is the hardest. Even though saving money can often seem like a herculean task, it doesn’t have to be that way. There are a lot of easy ways to save money that won’t require much effort on your behalf. Here are easy money saving tips to try:
1. Read More
Even though you might think that reading has nothing to do with saving money, I must tell you that you are wrong. Do you know what Warren Buffet does with most of his time? Well, he reads. Reading self-improvement books or personal finance books will help you have a healthier relationship with money. Saving money will become second nature to you and you won’t be putting so much effort into it.
2. Make Your Own Coffee
Invest in a French press or in a coffee machine and make your own coffee every morning instead of buying it from Starbucks on your way to work. Spending $4 or $5 on coffee every day definitely adds up. Even though it’s more convenient to buy your favorite drink from a café, make it at home and you’ll see how much money you’ll save.
3. Automate Your Savings
If you want to save money without trying too hard, you could automate your bank account so that a part of your paycheck goes directly into your savings account. This way, rather than making a decision regarding how much money you should deposit, you will be making a decision about how much money to withdraw.
4. Eliminate or Reduce a Hobby or Subscription
There are some hobbies that can be pretty expensive and they will significantly affect your budget, especially if you don’t do them so often. If there are things that only cost you money but offer you no pleasure, try to eliminate or reduce them. You could eliminate something like a magazine subscription or you could even cancel some extra cable channels.
5. Hang out with Frugal Friends
Your closest friends can be a huge influence on you, so wisely choose whom you spend most of your time with. I’m not saying that you should avoid your spendthrift friends but try to be honest with them when you can’t afford something instead of trying to keep up with them.
6. Replace Your Light Bulbs
If you want to save some money without so much effort, upgrade your light bulbs. This can help you save up to $50 a year, so go buy some energy-efficient light bulbs and replace your old ones that are basically draining money from your bank account.
7. Don’t Procrastinate
Did you know that procrastination can not only cause you a huge amount of stress, but it can also cost you quite a lot of money? This happens because you will have to pay for late fees or penalties for cancelled appointments. If you are a procrastinator, try to correct this problem since it will help you not only earn more money but save some money too.
Saving money can seem like a big challenge sometimes, but it doesn’t have to be this way. Do you know any other easy ways to save money that don’t require so much effort on your behalf? Please tell us about them in the comments section!