Everyone wants to save more of their paycheck. Whether you make minimum wage or six figures, it pays to be able to save money. If you’re looking for some quick ways to save a few bucks, you’ve come to the right place. Today, we’re looking at some simple ways for you to start saving money right away on every paycheck.
Dig into your accounts and find out what things you’re subscribed to. You might find that you’re spending a lot more money than you thought you were. Remember that free trial of an expensive app subscription you tried? Well, that might have turned into a full-blown subscription that is draining your bank account.
A lot of times, you’ll have smaller subscriptions in the back of your mind that you simply forget about. You don’t remember what this five-dollar subscription is for, or why you still have this subscription on your account. Go through, clean house, and end up with a lot more money left over on your paycheck!
This one might sound like a “no, duh” and it’s in the same category as the previous tip, but hear us out. Extraneous spending is the spending you do that you don’t really have to. We don’t mean to categorize things like an entertainment or “fun” budget under this umbrella. Instead, spending that is truly discretionary and gets you nothing in return is in this category.
For instance, let’s say you commonly get coffee at an upscale coffee shop. You could, instead, make coffee at home, often of the same quality, and for a small fraction of that price. The same goes for some of your favorite dishes: if you learn the recipes and buy the ingredients, you can often make a tasty meal for a small fraction of the price of a meal in a restaurant.
Other things that might fit this bill are things that you buy but never use. Exercise equipment gathering dust in the corner, collectibles that just sit in a case and junk food that costs way more than it’s worth.
Instead of buying items just because they’re on sale, shop for your common purchases through the lens of sales. What we mean is this: you buy bread, eggs, and milk every week. When you see that a store has them on sale, shop there. Don’t just buy Greek yogurt because it’s on sale if you never normally would buy it.
Buying items just because they’re on sale doesn’t actually save you money. Quite the contrary, it means you’re spending more than you normally would!