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10 Great Tips to Save Money Everyday
It can be very hard to find ways to save a little extra money every day but this list of ten tips can help you find a little more money by the end of the month. Some of these tips are easy and a few take a little bit more effort but the pay offs can be really worth the time.
1. Use Half
A simple way to start saving money is to use half. Most people use much more than necessary for a lot of everyday items such as toothpaste, mouthwash, laundry detergent and dish soap. For example, most toothpaste pictures and commercials look like the above picture when actually you only need an amount about the size of a pea.
Experiment with the different products you use everyday and try using half as much and this will result in products lasting longer and more savings. If you use half as much you will end up spending half as much and that will add up over the year.
2. Meatless Mondays
One of the biggest expenses in most people's grocery spending is for meat. We all love taco Tuesdays already so now make your meal planning easier and cheaper by adding meatless Mondays and try great vegetarian recipes that will be less expensive and encourage healthy eating as well. This is a small change that can really add to a nice savings over the month and year.
3. 30 Day Rule
The concept behind this tip is to curb impulse spending by giving yourself a "cooling off" or waiting period before you buy a bigger item. I know that new smart watch or purse or phone that your friend or co-worker just bought looks great but before you buy one for yourself wait 30 days and see if you still need it or maybe you can wait for a sale or price drop and save yourself money. Along with this 30 day rule is the reminder to never buy emotionally, those shoes really won't make that bad day better!
4. Pay Annually
This tip will take a little planning for many people but you can save by paying for your insurances annually, or at least quarterly, will save you money by eliminating extra fees. We have to have insurance from car to health to renters or home owners but when you pay the premium annually you can save on the total cost and save yourself the fees.
5. Use ATM's less
That little fee of a few dollars every time you use an ATM can really add up and the convenience just isn't worth the cost. If you need cash try to plan ahead and use an ATM at your bank to avoid fees. Most grocery and "big box" retailers allow for cash back without a fee when you are purchasing so you can get your cash when you are shopping. This little tip is easy to implement but the fees can add up quickly.
6. Cut the Cords
More and more people are cutting the cable cords and using other services that allow you to choose the channels you actually watch and the savings can be huge. Before you commit to cutting the cord take a week or two and keep track of what you actually watch and see if you can find those shows or channels without the cable. Explore different options to cable such as Sling or PlayStationVue and see if you can save on the monthly bill.
Also, many people who have cable, Netflix, Hulu and other paid content and don't really watch them all. Take an honest look and see if you need them all or if you can save by cutting out one or two and still have enough entertainment to keep you and the family happy.
7. Don't Miss a Flyer
I am not suggesting you spend a bunch of time reading that junk mail cover to cover but installing an app, such as Flipp, will allow you to see all the weekly ads in your area quickly and even look for deals on a specific product. Often you will be surprised to find a great sale price at a store you don't normally think to look and save you some money.
Also, get comfortable and always ask if there is a coupon or sale for a product you are buying at a department store. Often even if you don't have the coupon the sales associate will have available to scan at the register.
8. Calculate a Purchase's Time Value
When you are ready to buy an item, especially if greater than $100, stop and calculate it's time value. This is the amount of hours you have to work to pay for that item. This will be different for everyone but the concept works for all incomes. If the number of hours you must work to buy an item is worth the time then enjoy but often you will decide that you would have too work too many hours to make a purchase worthwhile.
9. Bring Your Own Cup
This is a little savings per visit but if you think of it over the year it can add up to a nice little savings. If you aren't ready to forgo your Starbucks, or other coffee stop, then bring your own cup and save a little bit every visit. At Starbucks you can save $0.10 each cup but if you consider that savings on one cup every day for a year that's $36.50 in savings.
10. Maximize Your Cash Backs
If you plan your shopping and credit card usage you can maximize your cash back rewards and accumulate quite a bit in rewards through the year. Make sure the credit card you have has a rewards program, if it doesn't check out NerdWallet and see if you can find a better card option. The next step is make sure you understand the terms of the rewards and maximize your usage to take the most benefits.
Also, a great way to earn cashbacks is to use a website such as Ebates that lets you earn a percentage back on purchases you make online. You simply set up an account for free and then access the websites you want from inside the Ebates site and you will earn cashback on the things you are already buying.
Use these ten easy tips for savings and you will be surprised at the savings you can accumulate through the year. A great way to really see this savings is to start an account or savings jar and add the savings to it over the year. Even if it is just the dime you saved on coffee that day it will start to add up especially when you add the money you would have paid the cable company or others.