10 Money-Saving Hacks
“Why is there so much month left at the end of the money?” John Barrymore famously asked. Maybe you’re feeling down because your saving isn’t going according to plan. Maybe you feel like the cost of living makes it impossible to save unless you eat nothing but bread and drink nothing but water. We have good news: saving doesn’t have to mean making huge sacrifices. Here are 10 easy, money-saving hacks you can start using today.
1. Use a Budgeting App
Budgeting apps help you manage monthly expenses and identify areas where you over-spend. You can download the app perfect for your needs—whether you’re trying to save as a couple or you want an app that links to your bank accounts and credit cards.
2. Set up a Separate Savings Account
Saving is partly psychological. If you see all that money in your account, then surely it couldn’t hurt to splurge? Instead, ask your office to split your salary between two accounts or set up a standing order to automatically transfer money to your savings account. For best results, don’t get a debit card for this account. That way you won’t be tempted to spend.
3. Set up a Retirement Fund
Saving doesn’t just mean accumulating money for that new car or your dream home. Even if you’re a young professional, you can start an annuity to put aside a little money each month for retirement. Your future self will thank you!
4. Maximise Credit Card Rewards
Some credit cards offer airline miles or cashback on groceries, gas or in select stores. Once you pay off your card at the end of the month, you’ll be getting paid to spend.
5. Use Cash Only
Number 4 isn’t for everybody. If you just can’t resist that impulse spend, then use cash for daily expenses. If you know you’ve got $300 to spend on groceries today, you’ll be more careful putting items in your cart.
6. Shop with a Grocery List
Speaking of the grocery, ask yourself if you really need everything in your cart. Those little “I’ll just try it” purchases add up quickly. A simple way to stay on track is to make a shopping list before you go—and stick to it.
7. Meal Prep once a Week
We know, you work a nine-to-five, you spend hours in traffic… you don’t have time to cook every day. But buying food is expensive too. Why not put aside one day to cook and freeze? One-pot dishes, like pelau, can make meal prepping even easier!
8. Maintain your Property
Take good care of your house and car. Simple acts like checking tyre pressure, changing your oil and servicing your car on time will improve vehicle longevity and may save you from a big mechanic’s bill in the future.
9. Unsubscribe from Temptation
Those marketing emails with flashy “50% OFF” subject lines? Yeah, they’re designed to get you to spend. Unsubscribe from online stores you know are your weak spot. Unfollow influencers who urge you to buy the products they’re using. Out of sight, out of mind.
Do What You Love—Just Cut Costs
Find a way to reduce luxury costs. Love electronics? Don’t buy that phone as soon as it’s released, the price will drop once it’s been on the market for a while. Love travel? Try to find the most affordable flights and research other money-saving tips to make your trips less pricey.
Saving doesn’t mean cutting all the joy out your life. It’s about being smart with your choices and finding little ways to make your money stretch further. Start with one or two of these hacks, and once they feel easy, add a couple more. Before you know it, you’ll have extra cash for the things that really matter.
