10 Tips On How to Save Money

Most of us would jump at the chance to save more and spend less. The hard part, however, is giving up some guilty pleasures and getting out of your comfort zone to have it. Saving money can be a major lifestyle change, but, here are 10 easy to implement tips in adding more zeros to your bank account.

1. Set a savings goal: This step is self explanatory and should be first on your list. By putting a number on just how much extra cash you’d like to save, you’ll be committing to an amount. You’ll also be more inclined to reach that goal because you’re now holding yourself accountable.

2. Slow down on your coffee intake– You may want to minimize your Starbucks runs or invest in a coffee machine. Better yet, try going on a coffee fast. Giving up coffee may be a stretch, but I noticed I was able to save much more cash when I went on a no caffeine and coffee fast for 30 days.

3. Prepare your meals – Spending less on food is one of the fastest ways to save. That means, no fast food. Try doing your grocery shopping in advance so that you’re able to meal prep. On average you may save at least $50 in weekly food expenditures.

4. Work out at home – Who needs a gym membership when you can work out in the comfort of your own home, right? You’ll be surprise what objects you can use to replace expensive gym equipment. How about using the stairs instead of a stair master and treadmill for the perfectly tone legs and glutes. And you might want to opt for a yoga mat for an at home crunch and abdominal workout session. You can even try free weights to help tone your arms or simply use your own body weight for a tighter and toned physique. Squatting and push-ups also help. And how about dancing? You’ll be surprised how much calories you’ll burn while dancing your heart out.

5. Slow down on that active social life: Extracurricular activities, which often includes eating out and drinking can put a dent in your wallet. I know you’ve worked hard all week and want to enjoy the fruits of your labor, but it’s costly. This includes movie dates, fitness classes, field trips to the museum or zoo etc. Try bringing your social life in doors. What about a game or movie night? You can also have everyone bring a dish or BYOB to minimize on food and drink cost.

6. Bargain shop – Are you a label whore? Unless you’ve got unlimited resources, I’m guessing you really can’t afford to ‘keep up with the Kardashians’, huh? No worries. You can still snag some of your favorite items by your favorite designers by bargaining shopping. Websites (and apps) like Tradesy, Retail Me Not, eBay and Amazon provide less expensive ways to get a little retail therapy.

7. Shorten trips/vacation or join a travel-share – Traveling is a luxury that most don’t always get to experience. But it’s also very costly. Between air fare, hotel fees, food, excursions etc., you’ll likely spend in the thousands for the perfect getaway. Shortening your vacation and opting shorter trips can help in minimizing cost. Try taking local trips to neighboring cities and towns to eliminate air fare and opt to bring your own food and snacks to limit cost on food. Try renting an RV, which provides transportation and shelter. You can also stay with close friends or family, who reside close to your vacation getaway to eliminate hotel fees. Or how about group trips to split cost and travel shares? Traveling in groups is another great way to limit cost and even make new friends.

8. Get rid of your car/car note: Own your own car? Fantastic? Paid in full? Even better. What’s not? Car insurance. Not having reliable transportation can be very stressful but if you are fortunate enough to live in a metro area, try taking public transportation. You’ll save big on maintenance and insurance fees.

9. Cancel your cable and opt for online streaming instead: Got a hefty cable bill? On average you’ll likely spend in the $100-$150 range minimum for your cable subscription. Sites like Netflix, Hulu and Amazon Fire not only cut down on cost, you’ll be able to watch your favorites shows on your time with minimal TV ads. That movie date we previously mentioned, it helps with that too. Netflix and chill anyone?

10. Sign up for deals: Websites (and apps) like Living Social, Groupon, Gilt and countless others help you to still enjoy all of your guilty pleasures but on a budget. If you find it hard to slow down on that active social life, minimize your caffeine fix, eating out, traveling then your best bet is scoping out deals where you still get to maintain your lifestyle but spend less.