8 Things You Can do TODAY to Save Money

By on May 26, 2013

Saving money isn’t a complicated concept. It may seem like it is because it’s hard to break out of old habits. However, once you start doing it, it’s actually a lot of fun to watch your money grow. If you start saving when you’re young, you’ll have the opportunity to reap the benefits earlier on. It doesn’t require you dramatically shift your lifestyle and you’ll also learn a lot once you catch the bug. Saving even $5 a day could translate into an extra $150 in your pocket a month – which could in turn be placed into an investment account, which translates into growth!

1. Don’t eat out today – Instead of taking your lunch break at hooters with your co workers (yup.); bring a peanut butter and jelly sandwich to work a couple times a week. Tuna fish is just as good. Sure, it’s not going to be as pleasent an experience, but not going out for lunch a couple times a week is going to put substantial dollar amounts back in your pocket.

2. Sell things you don’t use – I’m guilty of being a pack rat. For some reason, I tend to hold onto things because I have this notion in my head that they hold sentimental value. This is sometimes a very valid argument, but if you’re hoarding old video games, iPod chargers that don’t work with your new phone, fully functional Blue Ray players that you don’t have enough TVs for – GET RID OF THEM. Put them up on Craigslist, download the eBay app, call up your friends; do anything. This can easily translate into hundreds of extra dollars. Aside from the monetary value, you’ll find the concept of de-cluttering your living space to be very fulfilling.

3. Buy things you use a lot of in bulk – If you’re using or consuming something frequently, why not keep a lot of it in stock at your home? This is a simple way to conserve a lot of your hard earned dollars. Buying items in bulk from wholesalers tends to be much cheaper (there are some exceptions, always be mindful). Most wholesalers typically buy products in bulk directly from the manufacturer. When items are bought in large quantities, the purchaser typically gets a better deal. In many cases, middlemen are also eliminated, resulting in less cost per transaction. Next time you’re at the grocery store, pull out your phone and do a small amount of 4th grade math on the calculator. Add up the amounts of 10 boxes of Barilla pasta. Remember that number. Next, take a trip over to your friendly neighborhood Costco store. Find the massive box of Barilla pasta in the pasta section and look at the over all cost for the combined package. Chances are, the 10 boxes from your local grocery store will be priced higher. When you break down the individual prices from the large Costco package, you’ll find each is box is priced much lower. Costco also has great cash back deals when you use their store card.

4. Get a no annual fee, cash back credit card – There are plenty of cash back credit cards out there that provide consumers with numerous ways to earn money back on purchases they will be making any way. Why not consider a cash back credit card that wont stress you out? Both American Express and Discover offer reliable no annual fee credit cards that will earn you significant cash back on common purchases. As with anything related to credit, we only advise these rewards cards to the responsible consumer who will pay off their balance every month.

5. Cut back on your cable and internet bill – How many channels are you actually watching every day? Do you really need “extreme” internet? If you find yourself focusing on a select few, basic or premium channels, call your provider up and see if they have a more specific package tailored to you. Millions of people are throwing hundreds of dollars out the window every month paying for unnecessary service. In many cases, cutting your cable and internet down a few notches can save you anywhere from $25 – $75 a month. You can also search for promotions from local providers on Google. Often times you can find promotions that your current provider will honor if you tell them you’re switching out of their service for a better deal in the area.

6. Start couponing – It’s going to require you actually start reading the coupon catalogs your local grocery store and hair cuttery sends you every week. Cut these out, it only takes a few minutes and can translate into BIG savings. There are also plenty of coupon websites out there. You can also visit the brick and mortar store websites (Like Walmart and Target) and print out coupons directly from the retailer.

7. Look for deals related to your activities – Are you a national park junkie? Bowling or amusement park fan? Do you like to go fishing or shooting on the weekends? Start getting into the habit of using the internet to find deals related to places you frequent. If you have a smart phone, download the LivingSocial and Groupon apps for free. All you need to do is enter your zip code. In many cases, parks offer deals during certain days and hours. Sometimes bringing a certain number of people with you will save you some cash.

8. Utilize happy hour – Partying tends to eat away at your savings like no other. Once you’re out having fun, spending money slowly starts to become less of an issue the more intoxicated you get. If you’re going to go out, why not find a few easy ways to save some money. If it’s happy hour, you’re not going to come across as cheap if you order what’s on the happy hour menu. Even after it ends, consider downgrading to a house beer or well drink. All too many times I find my friends spending more money in 4 hours than they have in 2 weeks on food.

Do you have some common sense ways to save money? Share with the community below!

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