Money is tight for a lot of people these days. Finding money saving tips has become more and more important. This article will give you 19 easy money-saving tips to implement and should help save money in your bank account without much effort!
Did you know that the average American has $15,061 in debt? The average size of credit card debt is $5,879.
Americans are drowning in debt, and it’s time to do something about it!
You can start by implementing these 19 money saving tips
Most of us have seen coupons before, but some people aren’t aware that you can get them for just about anything these days. More and more grocery stores are putting their weekly ads online, making it easy to create a shopping list of what you need to buy. When manufacturers have released all the weekend coupons, go through your ads (or other coupon resources) on Friday or Saturday evening, and make a list of what you’ll need this week.
Now go through those deals looking for cheaper items if bought with coupons than they are without – be sure to factor in your manufacturer’s coupon and store sales prices to find true savings! And don’t forget to look at individual prices per unit – some stores require you to buy a certain quantity of an item to get the special price printed on the coupon, but by breaking up your purchase, you can often save more.
#2. Bulk Buying
Another great way to save money is by buying items in bulk. Many grocery stores have a section for bulk buys, where they sell huge bags of rice or pasta at cheaper unit costs than single package sales and even offer coupons that are only good when purchasing bulk items. Be careful, though – if there’s no item limit (or it’s over 50), be sure you don’t stock up too much and end up wasting something before it goes bad! Some stores have an individual weight maximum on each bag, so be sure to pay attention.
#3. Online Shopping
Some products can only be bought offline due to legal reasons or have no point of sale at all (phone contracts), but for the most part, you can find what you need online if it’s available to buy elsewhere. Look into your favorite retailer’s website, make a list of the cheaper items online than they are in store, and then wait until you’re notified by email when one of those items goes on sale.
If your local brick-and-mortar store has limited stock and doesn’t carry everything you want, see if the product is available directly from their website as well. Many stores offer free shipping benefits after a certain price threshold is reached and often offer deals on items from time to time that provide free shipping no matter the cost.
#4. Price Matching
Many stores have price matching policies now, where they will match or beat prices on identical items from other retailers and online sellers. You can get great deals this way if you know when and where to shop! Some of these chains only let you mix-and-match among their own store brands (for example, Target’s policy states that it only matches its own Target brand), but others will match against anything, even Amazon! Many people don’t know about this, so be sure to tell your friends and family who watch for sales at home and in stores while you’re picking up a good deal online… especially during the holiday season!
#5. Coupon Sites
Another way to get coupons is by signing up for a store’s mailing list or loyalty program, but these tend not to have many coupons because they want you to come into-store or make a purchase online. However, few coupon websites send new printable coupons every day and follow up with exclusive deals sent only to members of their sites. The best part about this is where do you go once you’re signed up? To your favorite stores’ websites, so it doesn’t add any more steps to your online shopping experience than necessary!
#6. Store Loyalty Programs
Each store’s loyalty programs are different, but many offer free rewards for purchases that add up over time and can be redeemed on future purchases. Usually, this only covers specific items or brands (like Walmart’s “Rollbacks”), but some stores like CVS have special deals from time to time where you can get discounts not just on certain products but also when buying other things. It also makes a great excuse to go shopping if you’re looking for a little something extra!
#7. Price Protection
Some credit cards will refund the difference in price if an item you buy with them goes down in price within 90 days of your purchase date. This isn’t always advertised, so it helps to read up on each card before applying and checking out all the benefits. All major credit card companies have some version of this “price protection” benefit, so be sure to check it out when you’re shopping for your next card!
#8. Purchase Recalls
Now this one requires a little bit of an investment up-front but can save you TONS in return, especially during the holiday season! The biggest purchase people make other than their homes is their cars, so why not ensure they stay safe and reliable? Many manufacturers will recall specific items if there’s a safety hazard or defect reported by customers. They will usually reimburse part or all of your original cost if you send in your receipt within a certain period after finding out about the recall.
You can check out the National Highway Traffic Safety Administration’s website to see if your car is affected by a recall. It’s simple and involves entering the Vehicle Identification Number (VIN) for your car into their database. Then you’ll receive an email letting you know if they have any potentially defective items on record!
#9. Price Protection Plan
Some stores will refund some or all of your money back as long as you keep your receipt and return within a certain time frame after purchase. This usually only covers electronics like TVs, computers, cameras, video games, etc., which can be expensive purchases, so it’s important to make sure they work properly before taking them home. Check with each store for details about their policy, as well as the time limit and whether or not you need a receipt.
#10. Extended Warranties
If a store offers an extended warranty, it’s usually a safe bet to buy it when making large purchases like electronics that can have problems after their standard manufacturer’s warranty expires (most TVs come with 1-year warranties included). Most of them cover any problems from normal use in your home for an additional time period, so if something goes wrong after that first year is up, you’ll still be covered as long as you keep paying the small fee.
Like anything, though, check into what they offer and read all the fine print before committing… some only cover certain things, while others will refund specific amounts depending on how much time has passed since your purchase. It’s really all about the fine print when it comes to warranties, so spend a little time reading up, and you’ll know for sure what you’re getting into!
#11. Find ways to lower your housing costs
This is a great place to start because many people have to pay more for rent than they used to. There are many different ways to save on housing, and each one in itself won’t completely alter your budget, but they will add up if you do them all. You could try negotiating with the apartment manager or landlord for a lower quoted price. Your regular utilities might have discounts or deals if you pay them online instead of mailing in payments.
It might be cheaper to get the internet hooked up through an alternate company, even though it is slower than what you know and love. And sometimes there are just good ole fashioned labor-intensive projects around the house that can make your home more efficient, which in turn will lower your energy bill.
#12. Cut down on food expenses
By buying the cheaper brands of everything and growing a garden. This is something that people have been doing for centuries, but it is making a come back again because of the need to save money anywhere possible. It might be hard to stomach eating off-brand products until you get used to them, but they are normally manufactured from the same plants as the name-brand item, just packaged differently, so there isn’t much difference taste-wise.
#13. Learn how to do simple home repairs yourself if you can
This is a really great money saving tip because it can save you a ton of cash if you know how to do this yourself. The home repairs that people normally call professionals for are things like: replacing the washer and dryer drainage hose, unclogging drain pipes, installing ceiling fans, patching holes in the wall from pictures, light switch installation. Luckily all of these repairs are easy for most people to learn how to do with some time spent on YouTube watching videos.
#14. Set up an automatic transfer from checking to savings
so your savings don’t get re-appropriated by your spending habits. When you automatically set aside money into a separate account every payday, it makes it really hard for you to touch, even if you are planning a surprise vacation or some such for your significant other. You might have to set it up as an automatic bill pay online so that you don’t even think about transferring the money every month; just make sure that you keep enough in checking to cover your bills.
#15. Stop eating out and cook at home instead
This is a great way to save money if you love going out for dinner, as most people do! My family used to do this at least 3 times/week, which adds up pretty quickly considering how expensive restaurant food can be these days. It is also healthier since most chain restaurants use too much salt when they cook their food, plus it tastes better with fresher, more natural ingredients!
#16. Try using public transportation when you can
I’m not saying to sell your car and give up on owning one, but this is something to think about when you don’t really need a vehicle for a certain type of outing. If you plan on going out for the night or saving some gas money by driving less, then why not try public transport? I know that it can be inconvenient at times, but it saves wear and tear on your auto (especially if you live in a city where the traffic sucks anyways), plus it will save you some cash in gasoline too!
#17. Limit what entertainment expenses you allow yourself
This is another great money saving tip because most people spend their extra cash in this area. We tend to go out to eat too often, go to the movies way too much (which is super expensive!), and buy too many snacks at the convenience store because we can. This wastes money because it just wants instead of a need, so why not save any unnecessary entertainment expenses by limiting them?
#18. Don’t buy anything you don’t absolutely need
We have come up with some perfect money saving tips for shopping around which will stop us from buying things that we don’t need like clothes, food, electronics, etc. If you only buy needed items, they won’t be able to drain your bank account! But if you start buying stuff that isn’t needed because it catches your eye in the store or online store, you run into trouble.
#19. Set up a budget and stick to it.
The last of our money saving tips is to set up a budget so that you can keep track of what needs to be done with the amounts you have allocated per month for certain things. For example, if we don’t need cable TV but think that we do because it sounds like something that would be fun, let’s try out the free trial for one month and see how much we are actually watching it and who knows? You may find yourself getting into those series as well!
If you use these 19 money saving tips, we guarantee that your next shopping experience will be 100% more rewarding! Just remember to take advantage of one or two each time you go to a store, and eventually, those small savings will add up into one big chunk of money for your wallet… or at least enough points to get a free cup of coffee along the way. Hahaha! Let us know how it goes if you try any of them out while shopping, and share this with everyone else, too; we’d love it if some people saved some money as well while they still can!