We can all benefit from saving a little extra money throughout the year, and potentially now more than ever. If you need your bank account to look healthier, you’re in the right place.
We’ll take you through various ways you can save money this year. None of our tips is overly complicated, but you might be surprised by how much you can save. Let’s jump into it!
Generate Your Own Energy
There are more ways than ever to create electricity right from home. The days of total grid reliance are over. Now all you need is a set of solar panels and a battery, and you can generate your own power!
Although the solar battery cost might seem steep upfront, you’ll quickly learn how beneficial it can be once you start seeing savings on your energy bills.
Use the 50/30/20 Rule
There are multiple saving rules out there to help you budget your money. One of our personal favorites is the50/30/20 rule. It advises that when you receive your monthly income, you divide it up as follows:
- 50% to necessities (bills, food)
- 30% on fun (eating out, social occasions, personal spending)
- 20% on savings (future payments, emergencies)
It might sound more like dividing your money than saving any, but the trick here is awareness. You might be surprised how much of your monthly pay cheque goes into ‘fun’ rather than ‘necessities.’ Try it for yourself!
Always Keep an Eye Out for Deals
Not all deals are going to save you money. Some supermarkets throw out buy-one-get-one-free promos that look great but don’t really save you that much. However, there are still a bunch of discount codes out there ripe for the taking if you know where to look.
A lot of supermarkets have a discount section that consists of food that is almost out of date. If you usually eat on the day you buy (or near enough), you could save a lot of money on groceries.
Waste Less Food
Food waste is a real problem in many developed countries. Every week, households throw out perfectly edible food, and not only is it bad for the planet, but it’s also bad for our budgets. Many of us waste money every week buying food we won’t eat.
Most waste happens because we either order take-out instead (guilty) or forget it’s even in our refrigerators. Sticking to meal plans is an effective way to eat the food you have bought for the week.
Incorporate No-Spend Days
Small transactions build up fast. That three-dollar coffee you bought on your way to work probably won’t seem like much. After all, it’s just three dollars. However, if you get one every morning, Monday-Friday, that’s fifteen dollars a week you’re putting toward commute coffee, which is sixty dollars a month!
Wherever possible, try to have ‘no-spend days’‘ where you part with absolutely no cash. You could be amazed by how much you save.
It Makes Sense to Save Cents!
We would all be happier with a little extra cash in our back pockets, and it’s never too late to start building some positive habits. Navigating your spending and balancing your income with your outgoings can sometimes feel incredibly stressful, but numerous resources can help. No matter how helpless your situation may seem, there is always a way forward, so start saving those cents already!
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