5 MONEY SAVING TIPS TO DO RIGHT NOW [SAVE $1,000 FAST]
If you feel overwhelmed and terrified about saving money, you're not alone. Don't fret, I have 5 money saving tips you to easily incorporate into your daily lives.
While some may think saving money is a breeze, one in five Americans have saved nothing at all.
In fact, most people can't afford to pay a $400 medical bill.
This is unacceptable and can be fixed with a change in spending habits.
I understand money is tight and we all have bills to pay, but hear me out.
Consider for a second that your car tire goes flat, kids get sick, a pipe under the sink bursts or someone you love dies – will you be ready to handle all this?
This is why saving a couple extra dollars and starting an emergency fund is crucial to obtaining a debt-free life.
Now, if you are wondering how on earth you can save money, follow the strategies below!
5 Money Saving Tips
1. Start Budgeting
One of the easiest ways to save money is by managing it well.
There is no better alternative to managing money well than by making a budget.
This will set the groundwork for your spending and get you right from the start!
It's crucial to understand where every dollar is going. When you make a budget, you give every dollar a name and spend it with the utmost care.
So, decide how much money you want to save each month and do it first before spending money on the rest of the things.
Prioritization is going to help with saving money much more than you'd expect!
2. Make Your Own Coffee
According to Acorns, the average American spends $1,100 PER YEAR on coffee.
In fact, 1/3 of people spend more money on coffee than on investing!
More specifically, over 45% of 18-23 year olds have spent MORE MONEY ON COFFEE than they have on their retirement.
Nearly 35% of 24-35 year olds have done the same.
Yes, more money on coffee than retirement!
I always make coffee at home!
Whether you buy a bag of coffee or a box of pods, you can save nearly $4 per cup of coffee.
Now, multiply that by 7 cups per week OR 14 if you're double fisting!
You're looking at close to $1,000 in savings in one year!
This is clearly one of the best ways to save money fast!
3. Join Rakuten
Rakuten is a free browser extension that saves you hundreds of dollars every year.
It gives you cash back when you shop online.
Just download the free extension & shop like you normally would.
The cash then gets sent to you every quarter!
Can't beat that!
I mostly use it when I buy things online at Amazon, Ebay, and Nike.
However, you can enable it on your browser and it will pretty much save you money at any store.
I received a $54 payment via PayPal last month for my third quarter savings!
4. Postpone Purchases By 72 Hours
This is kind of a fun one...or annoying if you're impatient!
The good ole 72 hour rule!
Essentially, you're just cutting down on impulse purchases that you make without really thinking about it.
If you see something you want, just wait 72 hours to buy it (if it's non-essential)!
After the 72 hours and time to make sure you need it, then go for it.
The anticipation is going to suck at first, but you're likely to pass on purchasing after waiting this time!
Make sure to do a reverse image search to make sure you're getting the best price!
5. Drink More Water
How many people actually drink a gallon of water a day?
Heck, you probably don't even drink a gallon of fluid a day!
Well, it's time to start!
Not only is this cheaper for you - but it’s also HEALTHIER for you.
We all know the health risks of drinking sugary drinks and sodas.
Just regular filtered tap water will suffice!
I agree that soda and gatorade are delicious, but do your body and your wallet a favor and drink more water!
Also, water will help fill you up so you'll have less temptation to eat or spend money on fast food!
Here is a little tip for anyone that says they don't like the taste of water.
Try the Mio or Mio Energy below and add a squirt to your water!
It's delicious and will help you drink more water, while avoiding those sugars!
Did I mention it's cheaper than an energy drink and lasts over a week!
If you want to take control of your money for good, it all starts with your spending habits.
Whether you want to start an emergency fund or investing your money, the 5 tips listed above will help you get there.
Start by creating a budget and provide a roadmap to all of your savings goals.
Re-examine your bills: cable, internet, gym membership, life insurance, cell phone and see where you can minimize expenses.
No one is going to do it for you.
Stop procrastinating and start saving today.
Save a couple dollars here and there and you'll be surprised how much you have at the end of the month.
If you're interested in making money online or from home, I've listed 33 ways you can do this below. ENJOY!!