From a young age, most of us are taught that saving money is something we should all strive to do when we are older. And while most of us who are now adults know that, we have a hard time actually doing it and putting our money saving plans into action. This can be for a number of reasons such as low wages, forgetting to save, too many expenses, outlandish spending and more.
While many think simply spending less is the way to save, that is only one of many potential solutions that you can use. In reality, there are dozens of different ways you can save some cash. This article is going to take a closer look at four ways to save money that you likely haven’t thought of or utilized before.
Cut Down on Unneeded Subscriptions and Memberships
The things that can often impede your saving more than anything else is the automatic expenses you have every month. This can include everything from cable, to a gym membership, to Apple Music and everything in between. While many of these are nice to have, you might not really need them and/or their might be cheaper alternatives.
You need to take a look at all of your subscriptions and see which you need, and which you simply like having. By eliminating these recurring costs that you don’t need, you will be shocked at how much more money you have available each month.
Carpool on the Way to Work
Depending on how far you live from work, your commute can be not only take a lot of time, but also a lot of money. Gas is not cheap right now and it can be a significant cost, especially if you are driving half hour or more each way.
Saving money on carpooling can add money to your pocket in a way you wouldn’t believe. Simply ask a co-worker or a neighbor who may happen to work near you to see if they would be interested in carpooling with you to work every now and then. Could be a great way to not only save money, but bond with a coworker.
Use Technology To Your Advantage
Technology has helped make our lives more efficient in dozens and dozens of ways, including helping us to save money. There are a variety of pieces of software and apps out there with the goal of helping people save more money.
Some may make it easier to budget, some might help you find deals at the store and others might even allow you to save money or invest automatically. The best thing is, many of these apps are completely free to use as well, which is a nice added bonus.
Use the “48 Hour Rule”
This is a common tactic that people will use to help reduce spending too much money on unnecessary things. This rule involves writing the item down or making a mental note of it, and then waiting 48 hours.
If after waiting for 48 hours you still want to make the purchase, go ahead and do it. This helps reduce impulse buys and can save you a lot of money over time. This is only one of several different little tactics that you can utilize to help address your spending problem if that is something you have.
In conclusion, saving money isn’t always easy, but we hope that the tips included in this article can help you reach your financial goals quicker and easier. While they can help you succeed, your financial success ultimately comes down to you putting in the work and making an effort to save.