10 Easy Life Hacks That Will Save You Money

When you’re trying to set money aside and live on a budget, you usually focus on cutting your biggest expenses. However, there are also plenty of small things you can do to save cash and still get the most out of your purchases. Check out this article for a list of life hacks every financially savvy person should know.

When you’re striving to reach your saving goals, every small effort counts. From turning off the lights when you exit a room to brown-bagging your lunch at work instead of eating out, all these seemingly insignificant life changes will positively impact your bank balance. It’s OK to think big and drastically reduce big expenses, but it’s also wise to pay attention to all the little things that can help your bottom line. With that in mind, I’ve gathered a list of life hacks to resort to when you’re trying to live more frugally.

1.  Empty the Browsing History

Have you ever compared flights online and noticed that the rates climb every time you log on? Airlines raise their prices when you return to their website more than once. To prevent this from happening, clear your cache whenever you’re searching for airfare. Alternatively, you can activate the “incognito mode” on your internet browser. Since we’re on the subject of travel, also avoid going on vacation during peak season, when prices blow up. An off-season trip can just as pleasant without forcing you to dip into your savings.

2.  Automate Your Savings

You can’t spend what you don’t see. Automate your savings so that every paycheck a certain amount of money is transferred to your savings account.

3.  Switch to a Credit Union

Credit unions generally have more advantageous rates and fees than commercial banks. They’re more customer-oriented, so the service and support will be superior as well. Some credit unions also invest in their clients, through various give back programs. Workers Credit Union, for instance, where I keep my money safe, considers your average balance in the previous year and multiplies that amount with a percentage determined based on the institution’s profit. Do some research and figure out which financial institution would be a better fit for you.

4.  Time Your Shopping

Timing is everything – it applies to relationships, and it applies to shopping as well. Knowing when the best time to invest in something, especially when it comes to big-ticket items, goes a long way towards saving a serious amount of cash. Generally speaking, the best time to shop for things is when a newer model is introduced. Take a look here for the inside scoop.

5.  Keep Your Clothes in Good Condition

It’s tough for me to abstain from buying clothes, but I’m making progress; and the fact that I’m doing my best to keep my current wardrobe in pristine condition helps a lot. Buy quality items, wash them according to the instructions, and store them with care. They will last longer this way. Bonus tip: rotate your outfits so that you never get bored of what’s in your closet. A fancy accessory can spice up an outfit in no time.

6.  Sell Appliances You No Longer Use

Whenever you buy a new appliance, don’t throw out the old one. Sell it on a secondary market instead. Sites similar to Gazelle and USell allow users to sell their old electronics. The better condition they’re in, the more money you’ll get.

7.  Pay with Cash

There are plenty of studies that show that people are more likely to overspend when they pay with credit. To prevent this from happening, pay with cash whenever possible. If you go shopping, only take the amount of money you can actually afford to spend, to avoid buying things impulsively.

8.  Choose Light Meals When Eating Out

If you need to eat out, go for a light meal, like a salad. Main courses are generally the most expensive things on the menu. When possible, look at the restaurant menu online and decide what to order before heading out, so you don’t feel pressured into making a rash decisions. Food is fuel – and you can always have more when you return home.

9.  Borrow

Whenever you need to buy something that you don’t use that often, see if you can’t borrow that item instead. For instance, if you go camping for a weekend, determine if there isn’t anyone who could lend you a tent instead of purchasing a new one. My friends and I also swap books – we like the same genres, so we came up with a crafty system. We make a list of all the book we want to read, and everybody buys some by rotation. This way, we all get the chance to read them without buying each and every title ourselves.

10.  Be Patient

Whenever you’re tempted to buy something you want rather than need, leave the store and write that thing down on a piece of paper. At the end of the week/month, look at the piece of paper and only buy the item if you’re still longing for it. It might sound silly, but it’s a tactic that actually works. It saved me from crowding my closet with multiple pairs of shoes I would have never wore.

The amount of money you save using the life hacks above will vary depending on your current habits, but they’re surely worth giving a shot. Exercise your money-saving muscle every day and the entire process will get easier as you get closer to your end goal.