Ways to Save Money Each Month

A lot of people out there don’t fully understand how much money they are throwing away every month. Sitting down for a few minutes to assess your expenses can have a significant impact on your overall financial situation and see how you can save money. You might find that at the end of the year you have much more money to play with. Maybe you want to try a new hobby, travel the world, or simply pay off debt.

Saving money isn’t as difficult as you think.  You likely won’t have to sacrifice anything important. Small changes to your lifestyle and budget can really add up when taken as a whole. So, where do you start? Fortunately for you, we’ve compiled a list of simple, easy steps you can take to cut down your expenses and enjoy a surprising amount of extra cash.

Stop Paying For TV

Online TV
Image by Gerd Altmann from Pixabay

In the current day and age, there’s really no reason to pay for cable.  Especially if you’re trying to save money. The truth of the matter is that you can find plenty of interesting things to watch for free on the internet. Whether you’re searching on YouTube or other networks, you’ll find content that is on par with your favorite television shows. If you still feel like you can’t live without the routine of television, you can buy an antenna and get television shows for free, depending on where you live.

Buy Used Items

There’s nothing wrong with buying used items. In fact, in many ways, it’s a very trendy thing to do right now, especially when it comes to fashion. If you don’t like visiting thrift stores, you can shop online for all kinds of deals on used items and save money. If you’re a gamer, make sure that you’re picking up used video games from your local game shop. Buying refurbished goods is so mainstream now that many retailers offer comprehensive and reliable guarantees on used products. In most cases, the quality is almost exactly the same as a new item.

Have Fun in the Great Outdoors

Everyone needs some entertainment in their life, and you might be spending a considerable amount of your budget on “living life to the fullest.” There’s nothing wrong with this.  In fact, entertainment is one of those things that everyone should be spending money on. That being said, there are many ways you can enjoy life without spending a dime. Exploring the great outdoors can be more rewarding and beneficial compared to a whole slew of paid activities. Why pay to see a movie when you go on an adventure yourself? Get out there and enjoy the great outdoors, and you can save money in the process.

Get A Cheaper Cell Phone Plan

Save money sim card
Image by Dean Moriarty from Pixabay

There are some seriously cheap cell phone plans out there. Even if you think you got a great deal a few months ago, it helps to regularly check-in and find out if there are any better deals available. For example, if you’re looking for mobile plans with tons of mobile data, you can find rock-bottom prices for sim-only plans.

Work from Home

If working from home is an option for you, then it’s a potentially great way to save money. We know that it might be more interesting to head to your local coffee shop with your laptop, but this can lead to additional expenses. For example, you might be tempted to buy lunch or several coffees. If you work from home, you can make yourself food and brew your own coffee.  It’ll be cheaper in the long run. You can also reduce expenses because you won’t have to travel – either by car or by public transit.

Eliminate Bank Fees

Yes, bank fees can seriously add up over time. The very prospect of banking fees is somewhat ridiculous.  After all, you’re paying someone to look after your money for you. Banks invest your money and generate income in the process. So, if you think about it, they should be paying you for the privilege. Well, that actually exists.  It’s called a high-interest savings account. If you can’t seem to get around banking fees, it might be time to switch banks. There are various banks out there that proudly charge zero fees if you know where to look.

Work Out at Home

If you’re going to work from home, you might as well work out from home too. Going to the gym might offer the possibility of meeting new people and getting some fresh air, but it’s undoubtedly expensive. You can actually get a great workout from the comfort of your own home and you won’t even need to spend money on weights or exercise machines. Look into plyometric exercises, as these require only your body weight. Pushups, situps, squats, and planks can make for a very healthy lifestyle.

Start Drinking More Water

Water glass
Image of Please, don’t sell my photos at commercial stock portals! on Pixabay

Water might seem boring to many people, but it’s the healthiest thing you can drink. Water is also free! If you’re seriously concerned about drinking tap water, buy a filter for a little peace of mind. When you increase the amount of water you drink, you’ll automatically cut down on things like coffee, tea, soft drinks, and alcoholic beverages. The savings can seriously add up over a month.

Brew Your Own Coffee

If you are going to drink coffee, be smart about it. Don’t make the mistake of buying a cup from your local coffee shop every day. Instead, brew your own coffee and experience some significant savings over the next month. You don’t need to buy yourself a fancy espresso machine, either. Pour-over coffee is all the rage right now, and this system is seriously cheap to set up.

Resist Online Shopping

The internet makes it insanely easy to spend cash without really thinking about it. After all, it’s only one click away. Before you know it, you’ve dropped tons of money on various things you didn’t really need – all from the comfort of your own home. You just need to practice discipline. When you see an item you like, think about the purchase for the next few days. Wait till it goes on sale, if possible. And even then, try to avoid things that you don’t really need.