35 money saving tips that actually work

If you’ve ever counted your last penny before payday, you’re not alone. Research shows that more than one in three American workers live paycheck to paycheck. And after covering their monthly expenses, they have little to no money left to save. They are referred to as the “working poor”. Still, experts suggest that we should save about 20% of our salary every month.

With the cost of living rising, this is easier said than done. Although challenging, it is possible to set aside some money each month. If you think creatively. Someone recently asked “What tip saved you the most time and money?” And people weren’t disappointed.

They’ve shared their secrets, and some of them are pure genius. Bored panda has collected the best answers to help you through these difficult times. Don’t forget to upvote your post and please share your own creative money saving tricks in the comments.

Store brands are sometimes just as good as well-known brands.

Photo credit: Mamaof threecrazies

Get a library card. I have read or listened to over 600 books in 6 years. I’ve taken classes, gotten help with tax preparation, researched my ancestry, watched movies, magazines, and CDs, helped a friend get citizenship, and had my resume reviewed and polished – all completely free. Most people don’t know everything that libraries offer and unfortunately they are underutilized.

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Pay attention to the price per kg/500ml instead of just buying the cheapest. Also, add up the items in your mind before purchasing them.

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One obvious way to save money is by budgeting. Instead of just hoping for the best. There are some strategies you can use when budgeting. One of them is known as the 50-30-20 rule. Basically, you spend 50% of your salary on things you need. 30% goes to things you want. And the remaining 20% ​​is for your savings or investments.

Then take it a step further and use some of the tips and tricks on this list when purchasing the things you need. For example, order your groceries online and pick them up. Or don’t go to the supermarket hungry.

Buy good tools. C**ppy tools don’t last long. In the long run, you’ll pay more than if you had just bought good tools from the start.

Good tools also speed up the work.

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Never start smoking.

I look at how much cigarettes cost and am so glad I didn’t keep up the habit after trying to smoke in high school to fit in with my friends. I didn’t like how it smelled on my breath and fingers, so I only picked up two packs, decided it wasn’t for me, and then never smoked again.

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Replace shopping as a hobby with real hobbies.

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If the 50-30-20 is too rigid, you can try the 80-20 trick. You save 20% of your salary and spend the rest on whatever you need or want. In any case, financial experts recommend that you always try to set aside 20% for a rainy day.

It seems impossible to save a fifth of your salary every month. But you’ll be surprised at what you can achieve when you get creative. There are some clever ways to free up your pocket money and use it for savings. As many of the Internet users presented here have revealed.

My dad told me to never go to the grocery store hungry. When I first moved out, I was always high, shopping, and spending a lot of money on snacks.

As soon as I realized that the old man was up to something, I always went shopping shortly after dinner and spent significantly less.

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Know how to sew.

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Buy second hand first! Very good for the environment and your wallet.

Are there any subscriptions you could do without? Are you wasting money on takeout? Do you have bad habits (like smoking) that are draining your bank account? Have you thought about giving gifts instead of buying them? Scroll through this list and find the tips that work for you. Then implement them and stick to them.

Timeshares are a waste of time and money.

Public transportation. This was especially good for me since my company pays for my Orca Pass. The commute and parking costs (between gas and parking fees) cost me about $600 a month, and the commute took about two hours because of traffic. Since then, parking fees have gone up about 40% and gas prices have gone up, so probably more. Now I take the train to work every day and am at work in an hour. Doesn’t cost me a cent.

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If you want to buy something (and make your hourly wage), think about how much the product would cost in labor hours, not just in quantity.

If you’re already on a tight budget, another option is to increase your income. Either through a side hustle, by working overtime at your current job, asking for a raise, or applying for a better paying position somewhere else. Making extra money doesn’t have to be a painful experience. For inspiration, check out how these people made money quickly and easily.

Honestly, I look at my spending almost every day. It’s easy to forget about the small purchases and they quickly add up.

The more you keep your eyes on it, the more you will take care of yourself when spending. Then it almost becomes a game or a challenge to figure out how much you can save once you get into a good rhythm.

Probably not the answer you were looking for, but I hope this helps.

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Meal prep has been a total game-changer for me.

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To save money, drink water. Don’t order soda with your meal. It adds up quickly.

In case you can’t set aside 20% of your salary, remember that something is better than nothing. Even if it’s $10 or $20 a month, you’ll eventually get into the habit of not touching part of your salary. And the money will inevitably grow. By the time you’re able to put away more, hopefully it’s already second nature.

Don’t get too tempted by cheap/discounted items. The purchase is fine, but the question is: do you really need it?

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Cancel Amazon Prime.

If you find that you need/want to order something from Amazon, when you check out you’ll see something like “Would you like a free/$X trial of Amazon for free overnight shipping?” Accept the offer (only if it is, of course less than the shipping costs), complete the purchase and cancel the subscription immediately. Cancellation does not affect your free shipping.

As far as I know, you can do this as often as you like. The first few times the trial version is free. You’ll have to pay at some point, but it’s still cheaper than an active subscription unless you buy something from Amazon every week.

If you buy stuff on Amazon every week, my savings tip for you is to stop buying stuff on Amazon every week…

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I use the internet to learn how to do something rather than paying a “professional” to do it for me.

Always make a shopping list before heading to the store. It ensures that you stay focused, avoids impulse purchases and saves you additional return trips.

Look at your bank statements for the last three months and see if there is anything you can leave out that you don’t need, such as: B. Subscriptions you have forgotten. This will also make you clear about what you are spending on.

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Buy the cheapest product if it’s an experiment; It’s most expensive when you know you’ll be using it forever

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I ask myself, “Do I really need this?” before purchasing. .

Depending on where you live, get a window fan. It’s incredibly hot in my house at night and very cool outside. Opening the windows isn’t enough, but a window fan will suck in all the cold air and cool the room down in minutes. It has probably saved me thousands in air conditioning costs over the years.

Grocery pickup. I don’t go to the stores to shop. I order online and pick it up when it’s ready. This way I don’t take action on things that aren’t on my list. I also save time because I don’t have to walk through the aisles…

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If something breaks. Don’t throw it away. Try calling/emailing the warranty first. Part of the sales price is used to finance the guarantee account.

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Using reusable shopping bags and containers can save you time and money. It also reduces the need for single-use plastic bags and containers.

Don’t consider the maximum mortgage you qualify for as your upper price range. Not that *I* necessarily did it, but if I had, I would have been completely poor, and I know a lot of people fall into that trap.

With our current house, we would have been entitled to about double the price because of the equity we invested in our first house.

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give gifts. People also seem to enjoy them more.

Buy once, cry once…that is, buy the quality item the first time and not the similar but cheaper quality item again and again. Kitchen knives, winter coat, household appliances, mattress, work boots are quick examples that come to mind.

I keep my freezer stocked with pre-cut vegetables to add to easy meals. Mix peppers, onions, etc. Also stir mix the mixtures to add to pasta, eggs, or whatever. That and an air fryer. Before, because of my ADHD, I almost set things on fire because I forgot they were in the oven.

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Everyone talks about food preparation etc. and misses the enemy of wealth: **cars**.

The difference between a new car and a 5-10 year old car could be $50,000.

As long as you don’t make this mistake (most people think they deserve a fancy car), you don’t have to worry so much about the smaller things.

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Learn to maintain and repair your own vehicles. A little intellectual curiosity goes a long way here.

Using a credit card with a good rewards points program. I use it to automatically pay my monthly bills and all other expenses. I can use this for gift cards or cashback, it’s free money. If my card is compromised it will not be credited to my bank account as I never use my debit card for anything.

If you can’t afford two, you can’t afford one.

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Set a strict curfew on online spending. It’s midnight for me. Absolutely no more purchases once the clock reaches 00. Obvious exceptions are things like bills or textbooks that I forgot to get earlier. But anything I don’t need? No. Doesn’t happen after midnight.

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