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Eleven Genius, Creative Ways to Save Without Leaving Home

Eleven Genius, Creative Ways to Save Without Leaving Home

Let’s face it. You’re probably spending more money than you want to each and every month. With car payments, rent, mortgages, student loans, food costs, and dozens of other expenditures constantly draining your bank account, it’s a smart idea to save as much money as you can on the little things.

Plus, did you know that saving money can lower your stress level? It also opens the door for you to never have to say “no” to making a purchase that you really want or need.

Saving money is difficult, right? Surely only those who have mastered the art of self-control can possibly manage to create an aggressive budget that makes room for savings. You could make a budget and save some money but then you’d have to deprive yourself of all the things you like.

Actually, there are plenty of easy ways to save money right at home! That’s right! By making a few small changes to your habits you could start saving money right now. Check out these eleven great tips for saving money at home and add yours in the comments!

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1. Buy Gift Cards on eBay.

Love going out to eat? Do most of your shopping at a particular store? Do you know that you can shop eBay and find loads of people selling their old gift cards for a discount? In most cases you can save 10-20% off of the value of the gift card! In fact, I’ve got my eye on a few cards right now.

2. Use Coupon Websites.

If you’ve ever seen an episode of the TV show “Extreme Couponing,” you know just how incredible the savings can be when you shop with coupons. Tough work, you say? Coupon sites like Money Saving Mom can make saving with coupons a snap. There are also cash back sites like TopCashback, eBates, or Giving Assistant that can get you anywhere from 1% to 10% cash back on ordinary purchases that you make online. Not as hard as you thought, right?

3. Change Your Drinking Habits.

If your beverage of choice at home is a soda, you’re throwing money out the window every single time you open a can or bottle. Even more expensive than bottled soda is bottled water, which routinely costs 30% more than soda and about 20x as much as tap water. Do yourself a favor and stick with tap water. If you don’t trust your local drinking supply, a filter for your tap– or a filtered water pitcher– can still save you hundreds every year.

4. Use This Water-Saving Shower Trick.

We’ve all stood under the shower for what seems like an eternity, letting the warm water relax and soothe us. You just want to stay in the shower for hours. A money-saving technique I learned from One Good Thing by Jillee could cut your wasted water in half. Instead of standing under a running shower while you lather your hair and skin, simply use the water to wet and rinse yourself. By turning off the faucet while soaping up you can save gallons of water each time you shower.

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5. Set up Automatic Deposits into a Savings Account.

If you’ve looked at your bank account at the end of the month, you’ve probably asked yourself, “Where did all of my money go?” It’s easy to spend at the moment and leave nothing for later. If that’s true in your case you might need to “trick yourself” into saving money.

Try setting up automatic transfers to move $5, $10, or $20 at a time from your checking to your savings account throughout the month. In most cases, you won’t notice the money leaving your account until you see it begin to stack up in your savings at the end of the month! You could also try a service like Acorns, which rounds up each purchase you make and puts the extra money toward a stock portfolio of your choice.

6. Make Home Repairs.

You can save money by making small improvements to your home. Even simple changes like adding draft stoppers to your door or changing your furnace filter regularly can make a big difference, according to AC repair company Right Now Air. You should also consider installing low-flow faucets and/or toilets and adding more insulation to your home. The savings can add up big time throughout the year.

7. Unplug Appliances.

Are you familiar with the phrase “vampire power?” It’s your appliances using energy when they are not running but are left plugged in. Your television, phone charger, hair dryer, and laptop can all be unplugged when not in use, saving you money on your electric bill.

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8. Make Popcorn!

Have you ever noticed just how pricey your favorite brand of potato chips is? Despite the fact that potatoes are one of the cheapest commodities in the world, potato chips (and other salty snacks) can cost more money per pound than steak!

Instead of buying potato chips, try making popcorn at home. It’s cheap, simple, and can be flavored in dozens of different ways.

9. DIY Your Home Decor.

Buying expensive decorations at stores like Hobby Lobby or TJ Maxx (I love both but they’re pricey) can really hurt your bank account. Instead, find a great project on Pinterest and create these decorations yourself! You’ll cut the costs quite a bit and you will have a fun craft project to enjoy alone or with your family.

10. Ditch the Gym Membership.

An average gym membership can cost upward of $25 per month. That’s $300 in a year! Yowza. Save yourself a bundle by working out at home. YouTube is filled with an incredible number of workout guides that you can watch anytime, anywhere. My personal favorite is The Fitness Marshall.

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11. Cut the Cord.

If you’re still paying for a cable or satellite subscription, you’re missing out on huge savings. A membership to Netflix or Hulu will cost one-fifth the price of a satellite subscription and can provide just as many quality TV episodes and movies as your old dish or cable provider. Do yourself a favor and cut the cord.

Saving money doesn’t have to be boring, and it’s far from impossible. In fact, with these eleven simple tips you can start saving money right now without even leaving your house,

Leave a comment and let me know which tip you’re most excited to try!

Featured photo credit: 401(K) 2012/Flickr via flickr.com

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Jimmy Winskowski

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Published on November 20, 2018

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

Why Your Past Prevents You from Saving Money

Are you constantly thinking about your financial mistakes?

If so, these thoughts are holding you back from saving.

I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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How to Effortlessly Track Your Spending

Stop manually tracking your spending.

Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

The Truth on Why You Keep Failing

Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

  1. Save more than 50% of your available money (after expenses)
  2. Only buy nice things after saving
  3. Automate your savings with automatic bank transfers

These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

How to Foolproof Yourself out of Debt

Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

So how can you separate yourself from the 60%?

By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

A Proven Formula to Skyrocket Your Savings

Having proven systems in place to help you save more is important, but they’re not the best way to save money.

You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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Transform Yourself into a Saving Money Machine

Saving money isn’t complicated but it’s one of the hardest things you’ll do.

By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

What are you waiting for? Go and start saving money, the sky is your limit.

Featured photo credit: rawpixel via unsplash.com

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