Saving money is just like going on a diet. There’s no better time to start it than today so that you can reap the benefits later. And just like dieting, many people don’t really enjoy the whole idea of saving money because they feel deprived. After all, you won’t be able to bring your money to your grave, so why not enjoy it?
Well, with prices skyrocketing through the roof without any sign of slowing down, saving money today would make sure that you get to enjoy life even more.
That being said, here are 7 tips on how you can start saving money today without feeling deprived.
Switch off the TV
Now, you may be wondering what does turning off the television have anything to do with saving money? The truth is, lots! Stepping away from the TV will help lower your electric bill, which will help you lower your expenses. It also stops you from being exposed from all those home shopping ads that are just so enticing to buy, which you will you later regret.
Open a different bank account
Many banks charge a monthly fee for checking and savings accounts. Although they may be just a couple of dollars, this quickly adds up over a long period of time. There are now banks that not only don’t charge monthly fees on checking and savings accounts, but also provide more attractive interest rates and sign-up bonuses when you transfer your funds over to them.
Take advantage of loyalty programs
Loyalty programs are big these days. These programs let you to earn points each time you shop or pay your bills. Many of them allow you to use these points to redeem discount coupons that you can use on your future purchases. Some of these even allow you to use as cash to pay for your next purchase.
Depending on what state you’re in, a pack of cigarettes can cost anywhere between $4.96 and $14. Even at the minimum, that easily over $1,800 a year spent on your pack of smokes. Quitting smoking allows you to use that money for something else. At the same time, you also help yourself avoid any additional unwanted expenses resulting from medical bills unless you kick the habit.
Generic grocery shopping
Most groceries and supermarkets offer generic versions of your favorite food items. These are considerably far cheaper than branded ones, and they taste just as good.
Always carry a list when you do your groceries
One of the biggest pitfalls when it comes to saving money is impulse buying, and there’s no better place when this happens than in the supermarket. Before heading out to the grocery, write down a list of the things that you really need to get for the home and stick to this.
Follow the 10-second rule
Before picking up an item and heading over to the cashier, stop for a good 10 seconds and ask yourself why you’re buying it and whether you really need it. If you can’t find a good answer other than it’s on sale or that it looks good on you, put it back and step away.