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Small Ways to Save Money Every Day

Check out these top 8 small ways to save money every day. These actions will help you save large sums of money in the long run.

In this uncertain world, you never know when financial catastrophe will strike or the form that it will come. You may lose your job, a medical emergency could render you unable to work, or your home may be in need of repair to make it livable. Getting in the habit of saving money every day will help you to build a savings fund in case you ever face financial stress from an unexpected bill. 

Track your finances

Before you can even determine how much you need to save, you need to evaluate your finances. Find out how much you are making each day. Determine where you are spending your money. Is it going to frivolous entertainment or paying off your debt? Can you cut back on some things? Are your conveniences really worth the extra money? 

You can use an app to track your spending and categorize your expenditures. The app can provide ideas on ways to cut back on spending. You may discover that saving can be quite easy when you know how much you are spending for different categories. 

Plan out the week’s meals

When you plan the meals each week, you can buy in bulk and save money. By using the grocery circulars to find out what will be on sale for the week, you can save more by using them in the week’s meal plan. Having a weekly plan reduces impulse fast food buys. Eating out costs quite a bit more than cooking at home. The average cost of a home cooked meal is $4.31, while eating out will run you about $20.37. That’s a savings of about $16.06 per meal! You will also save the money you would have spend on a tip or delivery. 

Make your coffee

Getting a coffee from a coffee shop is a delightful experience, but spending $5 for each cup of coffee adds up. You don’t have to give up the coffee shop experience entirely, but limit the number of times you get a coffee from a cafe to a few times a month. The rest of the time, learn to use the good old coffee maker at home. You may discover that you have a talent for brewing up the best homemade espresso around. 

Host a potluck

Going out to eat with tons of friends is always a good time, but the more frequently you do it, the more you end up spending eating out. You also may feel like you are neglecting some of your friends when you reduce the number of times you eat out with them. Switch it up and invite them over for a potluck. Instead of making the whole dinner yourself, a potluck encourages others to bring their own dish to share. You’ll eliminate the cost of parking, tax, and tips that you would need to spend at a restaurant. As a bonus, everyone can try different dishes and swap recipes. 

Join a loyalty program

Companies reward loyal customers with discounts and special offers. There are programs that help you save on gas, groceries and other retailers. Sign up for any programs at places that you frequent often. One thing to watch out for is the temptation that an additional stamp on your loyalty program will have towards luring you to spend more at their business than you normally would. A free lunch after 10 purchases isn’t really saving you money if you weren’t planning on eating there that often in the first place. 

Cancel unnecessary subscriptions

Stores want to turn you into repeat customers and are often offer a discount on your purchases if you sign up for a monthly subscription. This is okay if you would normally buy the product that frequently, but often the subscription encourages increased consumption. A quick and easy way to start saving is to cancel subscriptions that aren’t that helpful to you. 

Review your spending each month to identify the monthly subscription charges that show up and determine if they really are saving you money or if they are just draining your funds. These subscription services could things like cable, Netflix, gym membership you don’t use, or a monthly delivery of a skin care product. 

Take a walk

Many times we hop into our cars and drive less than a mile or two to our destination because it is convenient. We may save fifteen or twenty minutes, but we cheat ourselves out of the exercise that we’d get if we walked. You also end up spending money on gas, and with rising gas prices, every little bit adds up. If your work is within walking distance, make a goal to walk once a week when the weather is nice. Try walking to the gym or church. 

Save money when you borrow

Shop around for the best rates when you need to borrow money. If you find that you don’t have enough money for your current budget, Jora Credit can help you out. They offer online personal loans with great rates and can get you money as soon possible. Apply today. 

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