As prices continue to soar, most of us are looking for ways to save money and reduce our monthly expenses. However, you don’t have to go to great lengths to do this. There are many small changes you can make that will have a positive effect on your bank balance. Here we look at six ways to save money that are easier than you’d expect.
Keep a Money Journal
Knowing how much you spend is vital if you want to save money. If you don’t know how much you spend on different items, how can you reduce your spending? To keep a journal, simply log everything you spend on a spreadsheet or paper, preferably on the same day. Once you see how and where you spend your money, it’s easy to see where you can make cuts.
Always Take a Shopping List to the Store
Taking time to write a shopping list before you go grocery shopping will stop you from impulse buying. Plan out your weekly meals and add everything to your list together with other items that you need for your store cupboard. One of the easiest ways to do this is to add an item to the list as soon as it needs replacing. Stick to your list while you’re shopping to avoid buying things that you don’t need and may not use.
Switch from Brands to Store-Branded Products
This is such an easy way to save money and, most of the time, you won’t even know the difference between the products. Many store-branded products are identical to big brands – they’re made in the same factories to the same specifications but just have different labels.
Find Ways to Reduce Monthly Payments
Look for opportunities to reduce your regular monthly payments. Do you have subscriptions that you no longer use? Are you a member of a gym but haven’t been to it for months? Could you reduce the amount of energy and water you use? Would it make sense to consolidate some of your debt or switch to a no-interest credit card? You may also want to consider refinancing your existing student loans where you can take out a more favorable obligation with a new loan with lower monthly payments. Sun Cash offers best payday loan and cash advance rates.
Make Staying in the New Night Out
While a night out on the town can be a lot of fun, it can be extremely expensive too. Instead of hitting the bright lights, why not invite your friends to your home for a movie or game night? You can provide snacks and drinks or get everyone to bring something with them. Or how about a picnic at a local park or a BBQ in the garden? It’s all about finding things to do together that don’t cost a fortune.
Revisit Your Local Library
If you haven’t been in a library since you were a child, it’s time for a revisit. Today’s libraries offer more than just rows of books, and everything is either free or low-cost. You’ll find opportunities to use internet services, join interest clubs, rent movies, take advantage of magazine and streaming subscriptions and more.