Now that you’ve read, learned and memorized the first 10 tips to saving money…here are the next 5 tips to adapt to your daily life. There are 20 tips total so don’t forget to tune in next week for the last 5 tips!
- ALWAYS ask about discounts – AND PAY IN CASH | In our current climate, I’m sure that most of you are doing your shopping online. If you are ordering from a new company, most are offering discount codes for your first time purchase as long as you subscribe to their email notifications. Check social media for new sales and discounts before spending your money. Don’t forget about cash back websites like RAKUTEN – all you have to do is sign in to RAKUTEN, click on the company you want to purchase from and continue with your shopping. You could receive 3% cash back on your purchase or even 10% cash back. If you have your student ID card, military ID, or AAA card, you could be receiving special discounts. Also, if you have someone in your life who is a senior citizen and happens to be out with you, make sure to ask for senior citizen discounts. Many of the larger companies will not give you discounts for paying in cash but if you find yourself at a small business location, don’t hesitate to offer cash as many places will offer a discount for accepting cash payment.
- Eat HOME COOKED meals| Do you find yourself opting to postmates, ubereats, doordash etc all the time? Isn’t it easier to just place your food order instead of prepping it yourself. I challenge you to keep tabs on the meals you are purchasing throughout the week and add that total up. I can guarantee that you are probably spending double the amount on food you would if you were to just cook for yourself at home. This includes those coffee shop runs too! Its okay to treat yourself from time to time but a typical coffee costs $4 dollars and a coffee a day means $120/month and that means $1440/year!!! Set up meal plans for the week so that you can plan out your grocery store shopping list and do not veer off course once you are there.
- Lower your phone bill | Check your phone bill and itemize the charges. Look to see what you can cut out. Are you paying for extra insurance on your phone? How high are your data usage charges? What about extra warranties? With the current climate, most of us are working from home, meaning, you can sign in to your WIFI and not have to use all your phone’s data. If you are paying for maximum data, stop it now and call your phone service provider and lower your data usage plan.
- Freeze your spending | Obviously, don’t starve or stop buying essential items. BUT, make a plan for the month to NOT spend on things that are WANTS and only spend on things that are NEEDS. Go through your home and make a list of everything you already have available to you. This way, you aren’t buying duplicates of anything. Don’t tempt yourself by browsing any online stores and definitely do not log into your Amazon account.
- Take advantage of your retirement plan | If you are currently working for an employer who offers a 401(k) match, make sure you are taking advantage of it. However, your retirement plan should wait until you are debt free and have an emergency fund saved up. Once you are debt free and have your emergency money, look into that retirement savings plan and sign up ASAP!!!