All the credit goes to the rising inflation, we are counting pennies even before the month begins to end. Is there an end to this suffering from lack of saving?
All I could think of is cost-cutting and to my surprise, there are so many ways which let us conveniently save money. I struggled alone because a Princess doesn’t share her own space (I don’t share my apartment) but I figured I shouldn’t enjoy these tricks and tips alone. So, let us look at some of the amazing easy ways to save some extra cash to help put ointment on the month-end burns.
1. Save Before you See it
Now we all know that it is really hard to not spend money when it is around. So, the best way to save it would be to put it away from your reach. You should deposit a share of your income either in your savings account, provident fund account, recurring deposit scheme, fixed deposit scheme or something else.
2. Track your Spending
You can’t cut out your expenses without knowing where your money is going. So, use some old-fashioned spreadsheet or online banking app that lets you track your spending that you can go back to. It will help you analyse your spending pattern and save the money you are wasting.
3. Get Rid of the Unwanted Subscriptions
We all love entertainment but little do we realise some people solely rely on our month-end cry for their entertainment. To stop their subscription, we need to analyse our subscription needs and get rid of the ones we don’t need. It also includes the subscriptions like meal kits, beauty boxes and more.
4. Reconsider your Services (Cable & Insurance)
We have been using services like cable, wifi, insurance and more for a very long time now. We researched the market completely when we opted for those specific services. Over time, they have increased their prices, new services have emerged and older ones have drowned. It is time to do that research again and see if there is a cheaper service that you would like to consider.
5. Eat at Home More Often
I know we like getting ready and going out but did we ask our pockets if it likes to burn a hole in themselves every time our definition of self-care is eating out? No, we did not and it is high time that we stop footing the bill when we can cook equally tasty meals at home.
6. Buy in Bulk
Did you know that bulk buying is a thing now? If not, then let me introduce this term to you. A lot of supermarkets offer hefty discounts when you buy items in bulk and you aren’t the only one suffering from month-end cash crunch disease. So, gather all such sad people and bulk-buy items to save a huge amount on your regular items.
7. Month-long Saving Challenge
There are many habits we are used to but they aren’t a necessity but then what are we working so hard for? Examples of such habits are eating out, online shopping, buying expensive vegetables, late-night snacking and more. So, you can pick one such habit every month and save the money you would spend on it to accumulate in your emergency fund.
8. Luxuries to DIY & Some to Live Without
Nail salons, parlours, gyms, laundry service, maids, cleaning aid and more are wonderful services but the cost of these services bulks up like a rugby team over the ball. Here, you are that person who has the ball, which represents your expenses. Even after bulking up if your expenses are safe, then you leave the ground with injuries. So, it is better to stay away from these expenses and do your work yourself.
9. No Food Deliveries and Lesser Takeaways
We know you love food but who doesn’t? But when we strictly restrict dining out then food deliveries are definitely out of question. Even if you want to eat something from outside, I would suggest you get a takeaway to avoid dine-in and delivery charges.
10. Buy Second Hand When Possible
Whenever you have to buy something for yourself, first check the second-hand shops for the availability of the thing you want to buy. Since most people like to refresh their houses after a limited amount of time, they sell their oldies. You can put your hands on designer pieces for cheap if you look in second-hand stores.
11. Use Coupon & Discounts
Whenever you make a payment, ensure to check the coupons and discounts you can score on your purchase. Online stores have a plethora of coupons that you can use after reading their terms and conditions carefully. When making a purchase offline, you can always check for discounts available on certain modes of payment.
12. Choose Walking When Possible
Fuel prices are striking through the ceiling which makes it expensive to use your vehicle over local transportation. However, do you know what is the cheapest? Using your vehicle gifted to you by nature: your feet. Whenever given a chance, choose walking over anything else. It will help you save a lot.
13. Save Your Change
We all used to use gullak in our childhood so why not even when we are adults? When we make purchases in cash, we are often left with change that we keep a little too safe to remember where it is. When we have a gullak to put our change in, we can not lose such money and as they say, every drop counts to make an ocean.
14. Calendar your Bills
Every bill has a specific last date and missing that incurs late fees on the payment. So, either put these dates on the calendar to remind you of the payment or you can put it on auto payment. The main concern is to avoid late charges.
Although we earn for ourselves, it is important to have a budget that restricts us to use our money in a certain wise way. Having a budget will ensure that we do not misuse our money and each of our needs is fulfilled. Fix a budget for your necessities, savings and then luxury. Also, have some goals in terms of saving for you to have the aim to make.
16. Reward Yourself
Rewards are really important to reinforce positive behaviour so whenever you achieve your goal, buy something pretty or important for yourself. It will ensure that you stay motivated to save more and use your money wisely.
In this article, we learnt the 16 right and easy ways to save a little extra money that can help us get through the month-end cash crunch. Also, just in case you master these techniques, you will be able to save emergency funds and other savings for yourself which is highly important.
I hope this article was helpful to you and you will share this article with people who need to learn the art of saving money.