When it comes to saving money we all have good intentions right!. We tell ourselves that we will start saving money once we get to a specific age, or get a raise, but in reality, you’ll only start saving money when you develop healthy money habits, and your future needs become more and more important than your current wants.
I understand that saving money can be difficult, thinking about it can be easy, but actually doing it and seeing the money in your bank account piling up can be much more difficult. However, with a few tweaks to your spending priorities, you’ll definitely be on your way to save money fast in no time.
14 How To Save Money Fast
Before diving into the tips and tricks on how to save money, you need to understand that sometimes the hardest thing about saving money is just getting started (crazy right).
Just take the first step, start implementing those tips that we’re about to share with you, and with just a few months you’ll have extra hundreds even thousands of dollars in your bank account.
Create Your Own Budget
The first thing you should do to start saving money is to know where your money is going, and creating a budget will help you with that. A budget is a great way to track your spending and achieve your financial goals. You can’t completely manage your money unless you know two things:
Knowing exactly how much money you have coming in And why are you saving money (what are your saving goals).
Keeping track of all your expenses and income will develop a good sense of your financial patterns with time. And by understanding this concept, you’ll be able to make better financial choices in the future.
Reduce Your Expenses
Once you create your budget and know where the money comes from and where it goes to, you need to keep track of all your expenses, that means every Coffeen, household, bills, etc. and try to find the expensive ones that can be reduced.
I know it may be difficult at the beginning to reduce some of them, but getting rid of or replacing some services, will allow you and give you the opportunity to save more money by the end of each month.
For example, some big monthly expenses that could take a big part of your monthly salary are cable TV and cell Phone Services (more of this coming later), and if you try to replace them with cheap services you’ll save more.
Cut Ties With Cable
Caple prices are continuing to rise we all know that. The average monthly bill for cable TV is about $106 a month, which is $1,236 per year (that’s too much right).
So why not try to save some of that $1,236 and try to look for cheap or free alternatives to cable or satellite TV (this does not mean you’ll stop watching your favorite tv shows and movies).
You can opt for a digital antenna like this one here, and you can watch TV channels without a cable or satellite subscription including ABC CBS NBC PBS Fox Univision and more. Plus you can watch most of your favorite TV shows there for FREE.
Reduce Your Phone Bill
When your monthly cell phone bill starts competes with your monthly grocery budget, you know it’s time to cut down a little. You can save good money on your phone service by getting rid of the extras. you need to really think about it, do you really need all those minutes and data, and phone insurance and unnecessary warranties or not.
Ketting down those extras and switching to a cheap service will definitely add more money to your savings every month. I personally did this and saved $30 per month.
Save Money On Groceries
Most people when they set up their budget as we mentioned above, are shocked to find out how much they’re actually spending at the grocery stores each month. The average American family will spend up to $500 a month only on groceries.
It’s easy to walk through the supermarket aisles grabbing a bag of chips, a bag of Oreos and other stuff that we think is not that expensive. But those little costs will add up quite a bit, and end up blowing your budget.
You have to be careful with groceries and try to save money by planning your meals each week, and avoid snacks. Take a good look of what you have in your kitchen, so you don’t go and spend too much money on things you already have in your house.
To help you get some of the money you spend on groceries back, use Ibotta. Ibotta is an App that allows you to get some of that cash you spend shopping on groceries back. Plus you can use it to get some of your money back while shopping for clothes, or in gas stations and more.
Pack Your Lunch Instead Of Eating Outside
This is one of the obvious money-saving tips I can give you. According to the Bureau of Labor Statistics, the average household spends around $3,300 on food outside each year, which is $275 per month.
This is one of the things that you may say “oh it’s okay it’s just a few times a week it won’t hurt my bank account”, but in reality, it will. You can save a lot of money just by packing your lunch from home.
Because think of it, you already bought all the groceries you need, and you can make a great delicious meal just in your kitchen, why spending $30 or $40 dollar and eat outside right. So save more, and eat at your home.
Set A Saving Goal
One of the best ways to save money is to set a goal, visualize what are you saving for. This is a great way to get a lot of motivation. Set your targets along with a timeline that will make it easier for you to save money.
Whether you want to save for a vacation, or a down payment on a car, or even you want to save to buy a house in three or four years with a 30 percent down payment.
Once you set up your target, you will no longer need inspiration or motivation to save money. Because that goal will do it all, you will start fighting for it and start saving more and more just to achieve that goal.
Cancel Uneccery Subscription And Memberships
Most of us pay a monthly subscription for services like Netflix, Hulu, Spotify, Amazon Prime, and also some of us have a gym membership. So if you want to save some money, you need to cancel unnecessary subscriptions that you don’t use regularly.
Also, you need to turn-off auto-renew when you make a purchase (one time I purchased a host subscription and forget to turn that option off and end up paying $75 for something that I don’t even want anymore).
Great advice we can give you is to consider membership sharing with some family or some of your friends on the subscription you want to stay on. Many streaming services let you watch movies, TV shows from two or more screens like Netflix, and Hulu. so you can save some money doing this.
Make Saving Automatic
One of the greatest ways to save money is to save money automatically to your bank account. Yes, you can set up your bank account to automatically transfer funds from your checking account to your saving accounts (almost all banks offer this option so don’t worry).
You can choose when, and how much you want to transfer money to your savings account. Or you can also set up your direct deposit to automatically transfer 5%, 10%, 15% of each paycheck into your savings account.
Search for discounts
This is really easy, you should always look for and ask about discounts. You never know until you ask right. There are some great discounts on anything from products to movies and museum tickets.
So next time you want to buy something or going to a movie theater, look for discounts to save some money. Also to help you buy everything you want online from amazon or other platforms like eBay or Etsy, download the google extension Honey.
Honey will search all the web looking for discounts for that special product you want, and give it to you just to help you save some money.
Try To Make Extra Money
Making extra cash when getting back from your work, can really boost your savings, and help to pay some bills at the end of the month. To do this, you need to know some available options that will help you earn that extra income.
You don’t have to overthink it and waste your time searching about it, we did all the digging and the testing for you. All you need to do is take action and try some of the following making money strategies below.
Make Money Ideas To Earn Extra Cash
There are plenty of strategies to make money from when you get back from your work. And below we listed some of the legitimate ways you can start today and make some extra income starting with:
Taking surveys is one of the easiest ways you can make some extra money with. All you have to do is take some fairly easy tasks such as answering surveys, reading emails, watching videos, or downloading games.
There are plenty of legitimate survey companies out there that will pay good money for your own personal opinion about videos and other stuff.
Virtual Assistant Service (VA)
Virtual Assistant is basically an assistant who works in a remote location, as opposed to a company’s office. There are a lot of Ultra-busy professionals who appreciate having someone who can answer their emails, organized task lists for them and more.
The best part of this is that you can provide this service 100% from home with your computer and internet connection. Normally VA’s get paid on how much hours they worked, so the more you work the more you earn, and of course, with more experience, you will charge more.
There are a lot of people that willing to pay good money to learn English from their homes. If you have a bachelor’s degree (in anything), and a natural English accent, then you should definitely consider teaching English to young children in China.
Companies like VIPKID, gogokid, HAWO, are more than happy to hire you teaching young children this language in your free time. The great thing about it is you can do it in your free time, or in the weekends.
Read more: if you are interested in knowing more about how you can make extra side income after you finish your day job. Check this article about the best 15 side business ideas you can start today to make money
Skip The Coffee Shop
This is painful and might hurt some coffee lovers, but you’d be surprised how much money you can save when brewing your own coffee at home. A Venti Caffe Latter from Starbucks will cost you $4.15. This is $1,514 of coffee a year if you buy your daily coffee from Starbucks (this is assuming that you drinking only one cup of coffee a day).
So instead of spending all that money you can go to the nearest coffee shop in your neighborhood and buy a bag of beans, and brewing it at home. This way you can save up to $1000 a year.
Sell Everything You Don’t Use
We all have lots of stuff and furniture that we don’t use but we still keeping them and storing them in our garages or basements. Instead of keeping stuff that you don’t usually use, sell them.
You have to sell everything in your home that you don’t use or the stuff that you’re willing to let go for the sake of your future. Don’t hesitate (that does not mean you should sell everything, NO, just the things that you do not use) sell them, and you’d be surprised how much clutter you have in your home, and how much cash they’ll make you.
Try To Stop Smoking
Smoking can not only hurt your lungs, but it can also burn a hole in your wallet as well. Yes I agree it’s certainly not easy to quit smoking, but if you smoke a pack every day, that will be around $2,500 a year (did you realize how much it hurts your pockets now or not).
With cogitate prices increasing, it’s the perfect time for you to quit smoking (or try to quit smoking). By ditching that habit you’re not only saving money but saving your self from horrible and dangerous diseases like cancer.
Just to give you some more motivations, According to the Centers for Disease Control, the percentage of people in America who smoke cigarettes is now below 20 percent for the first time since at least 1960s. What are you waiting for, join them
making money from your smartphone
Yes in 2020 you can make a decent amount of money just from spending a few hours on your phone (which is something we do every day, in social media, and other similar platforms).
Whether you have an Android device or an IOS device, there are thousands of apps you cand download and start making money from. Like Acorns, Ibotta, Swagbucks, and more.
Most of the apps that I mentioned have more than 2 up to 5 Million visitors on their websites, and more than 100,000 downloads and reviews, so you know they are legitimate apps and not spammy apps.
Read More: to explain more about each one and how it works, we recommend you read our article about 12 of the highest-paying apps to make real money here.
Above we showed you some of the best ways you can start today to save thousands of dollars every year, all you have to do is to take the first step. Also, It’s likely that you will be able to implement more than one of these tips to save money.
So don’t be that person who sees great information and doesn’t do anything. Be that person who takes action and tries to be better, and live better.
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