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Everybody wants more money in their wallet, but for millions of Americans, sometimes it’s easier said than done. If you’re one of those millions, don’t lose hope. Thankfully, many tiny life hacks people swear by can lead you down a more frugal path. Recently, people met online to reveal their tips and tricks for saving money daily.
1. Make Coffee at Home
If you’re one of the millions of caffeine addicts who make daily pilgrimages to their local coffee shop, it’s time to realize how much money you’re spending. Making a small investment in a quality coffee maker at home can yield significant savings over time, with little-to-no loss in the quality of the coffee itself.
2. Convince Yourself You’re Broke
Sometimes you have to adjust your thinking to make inroads in saving money. “I’ve trained myself to think that I’m broke all the time,” confesses one man. “When you think you have nearly zero dollars, you reconsider every purchase you make in more of a survival mentality than a logical one.” It sounds ridiculous, but it works!
3. Use Refillable Water Bottles
If you still buy plastic bottles of water, you can only blame yourself if you find it hard to save money. Get with the times already! Reusable, refillable bottles offer a value proposition that can’t be beaten. When you add that 99% of U.S. tap water is safe to drink, you’ll be on the road to Savings Town in no time.
4. Consider a Nontraditional College Experience
Too many people make the mistake of diving into the college experience without considering their financial strategy. Many savvy people have managed to avoid incurring massive college debt. “I have friends who decided to go to county college to start and then transferred to a university once they actually knew what degree they wanted to pursue,” explains one man. “Saved them a lot on student loan debt.”
5. Marry the Right Person the First Time
I was surprised how many people lament that the divorce and re-marrying process was so cash-intensive. One recently divorced man declares that the single most significant way to save money is only to get married once. It makes a lot of sense!
6. Only Buy Vehicles With Cash
Overly-expensive monthly car payments burden millions of Americans, and many admit they regret buying something they couldn’t afford. “I only buy used cars with cash from saving,” reveals one woman. “It saves me money: no car loan, no new car depreciation, and having cash allows me to look for deals and gives me a position to negotiate from.”
7. Think in Terms of Hours, Not Dollars
One of the savviest ways to save money is to start thinking of each purchase’s cost in terms of hours, not dollars. It puts everything in perspective. “Every time I want something frivolous, I question how long I would have to work to have it,” explains one frugal woman. “Is it worth an hour of my time? Ten hours of my time? Would I be happy if I worked at my job and they told me this is what I’m getting instead of a paycheck for that time? Most times, the answer is no.”
8. Don’t Carry Revolving Credit Card Debt
Even if you have many credit cards and enjoy a high credit score, you may want to re-think using them if you can’t pay off the balance each month. “Never carry any kind of balance on a credit card,” advises one expert. “Use your cards for whatever points they give, but pay them off every month without exception. Don’t buy it if you can’t afford to pay it off before the next statement.”
9. Re-Think Certain Purchases
Impulse purchases are a noticeable drain on anyone’s bank account, so the best way to combat this is to give each purchase some time. If a day passes and you still find yourself wanting to buy the item, then by all means, buy it. However, you’d be surprised how often you realize you no longer want the thing!
10. Drink More Water
One of the best ways to save is to cut out any beverage that isn’t water. From soda to alcohol, these beverages are proven to be expensive. “Drinking water has saved me so much money!” exclaims one woman. “Not only is it better for your body, but you’d be surprised how quickly the cost of a soda adds up over time.”
11. Use Grocery Store Coupons
Although many shoppers and consumers consider grocery store coupons archaic, they still represent an underrated way to save money. Most grocery stores in the U.S. use physical or digital coupons, and many people confess they can save up to 30% on their grocery bill each month by taking advantage of them.
12. Stop Making Small Transactions
Little purchases add up to big-time expenses! The easiest and quickest way to start putting dollars back into your wallet is to halt discretionary spending. Learn how to say goodbye to the $3 snack purchase at the gas station and the $8 fast food trip because you’re too lazy to cook dinner at home. Trust me; your wallet will thank you for it!
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