Simple Ways to Save Money on Everyday Expenses

The question of saving money is always relevant: on the one hand, to have enough monthly income to live on, and on the other hand, to save for a rainy day and invest. In this article, we have collected tips that may help you save money even if you think you cannot live below your current means. If you implement at least a few recommendations, we guarantee that by the end of the month, more money will be in your card or in your wallet than you are used to seeing.

Prioritize Your Expenses Correctly

Saving for the sake of saving is ineffective. You should save to reach a certain goal. However, the goal "to live better" is not suitable: it is too vague and does not provide sustainable motivation. It is better to choose something tangible and measurable. For example, if you like to paint or swim, do not give up your hobbies. Without a charge of positivity, any savings will be no fun. Instead, focus on another category of expenses, where restrictions won’t be that painful.

Next, set goals.  It is easier to save up when you are planning a down payment on a mortgage. Based on these specific goals, make a concrete plan - how much to save from each paycheck and what to save on in the process.

Consider All Your Income and Expenses

Start recording all of your income and expenses. You can do this "the old-fashioned way" by writing in a notebook. But you can also use mobile apps or electronic sheets. Whatever works for you. Most importantly, don’t miss any expense to have a full understanding of where your money goes.

Have a Wishlist

We often make spontaneous purchases when we see a discounted product. We seem to make a reasonable decision by buying a 50% discounted item we need. However, if we don’t actually need the item and feel tempted to buy it just because it’s discounted, it’s often a waste of money. That’s why having a clear wishlist is an effective way to always double-check your purchasing decisions. If something is not on your wishlist, then you do not need it, no matter the price.

Go Less to Cafes and Restaurants

Surprisingly, eating out hits the budget hard- takeaway coffee, business lunches with colleagues, the traditional after-work drinks. We are used to overlooking such expenses, but cutting them down is a sure way to save 10-15% of your income. But it's important not to overdo it. If you eliminate all the "pleasures", life will instantly lose its flavor. So analyze which habit gives more pleasure, and save on the rest. For example, instead of buying takeaway coffee, you can buy a thermal mug and brew the drink yourself.

Cook More, Order Less

It’s obvious that ordering your food directly to your house or office is very convenient and time-saving. But how does it affect your budget? If you buy the products and cook the food at home, it’ll be much cheaper compared to ordered food even from cafeterias or food-courts. That’s because you pay not only for the food, but also for cooking it and delivery.

Besides being budget-friendly, cooking is healthier because you can control the amount of salt, sugar and oils you put in the dishes you make. Besides, it’s environmentally friendly too, as the food you order is delivered in plastic containers and bags, along with disposable cutlery.

Take Proper Care of Your Belongings

If you take care of your clothes and footwear properly, they will serve you longer. Washing your clothes with the wrong cycle on a washing machine can quickly ruin them. The same is true for footwear. On the other hand, if you take care of your leather shoes and bags and treat them with leather creams, they will stay in good shape for much longer.

Plan Your Vacation Wisely

The cheapest way to travel is to do it yourself, without travel agencies. The key to buying cheap tickets and booking hotel rooms at a lower price is doing it a few months earlier. Also, try to avoid holidays in the country you are going to and you can save on everything - tickets, accommodation, local entertainment and even food.

Give Up Your Bad Habits

Bad habits like smoking, alcohol, and high-fat and high-calorie foods eat up a large part of your budget. But, more importantly, they are harmful to your health, which in the future translates into huge expenses for treatment. Therefore, the medical opinion is clear: give up smoking altogether and limit the consumption of alcohol. To support your health, do annual medical checkups to detect illnesses early on. Go to the dentist every six months to maintain healthy teeth and prevent future big expenses.

Look for Cheaper Alternatives

Lastly, try to replace your hobbies with free alternatives to save money. If you love traveling but want to save money, try discovering your country instead of planning expensive trips to other countries. There are surely places you haven’t been.

Those who like to read can borrow books from the local library instead of buying them all. There are also free electronic versions of many books, so if you like reading with your gadget, it’s a budget-friendly way to do so.

Another aspect where you can cut the expenses without giving it up is fitness. Keeping yourself in shape is realistic without a gym. Replace exercise machines with exercises with your own weight, go jogging in the morning, and look for free online classes of yoga, Pilates, and others. Those who are developing professionally. If you want to learn a new field or acquire a skill that will be a plus to your already mastered profession, start with the internet. There are many online courses available for free.