Easy Ways To Save Money Every Day

Written by Ashley Henshaw. Posted in Personal Finance

Easy Ways To Save Money Every Day

We can all benefit from spending less, but sometimes it can seem daunting when there are so many necessary expenses you have to pay for. If you’re tired of watching the money in your bank account dwindle away every month, try these easy ways to save money every day. They’re simple, effective and quick ways to help you save more and spend less.

Use Less Energy

Energy bills are one of the things you can’t avoid, but there are still plenty of ways to cut your monthly bill down significantly. Here are a few easy ways to reduce your energy use:

  • Use energy-efficient compact fluorescent light (CFL) bulbs. They use only two-thirds of the energy of conventional light bulbs.
  • Install a programmable thermostat to lower the temperature at night and during times of the day when you’ll be out of the house.
  • Turn off and unplug electronics when they’re not in use.
  • Wash your clothes in cold water – it works just as well as hot water.
  • Take shorter showers – cutting a 30-minute shower to a 10-minute shower could cut water-heating costs by 50%.
  • Caulk windows to reduce air leakage.

Get Cheap Transportation

Many people overlook the potential savings they could get from using a cheaper mode of transportation. It’s something you probably use every day, so why not save money while you’re at it? The following are some smart savings tips for getting around on the cheap:

  • Sign up for a carpool to work.
  • Take the bus or the train if public transportation is available near you. It’s often cheaper than paying for gas and you reduce the wear and tear on your car. If you plan to use it regularly, see if there’s a monthly or weekly pass option that’s cheaper than paying each day.
  • Purchase a bike or motorized scooter. Many people are able to get to and from local spots on these while spending little to no money on gas.
  • Get rid of your car and use a car-sharing service. This is especially popular in larger cities where many people don’t need to use a car very often to get around. The car-sharing service allows you to pay a small fee to use a car only when you need one, which reduces the amount of money you spend on registration, maintenance and other fees.

Spend Less On Home Entertainment

It’s likely that you turn on your TV at least once a day. But have you ever added up how much you spend on cable service each year? Most people are startled to see just how much of their budget goes to home entertainment. Here are some savvy ideas for saving in this area:

  • Don’t let your cable rates go up after the introductory price. Shop around for better rates. Then call your current provider and let them know you plan to switch if your cable rates increase. Many will extend the introductory price. If they refuse, switch to another provider.
  • Cancel your cable and use many of the online services available today, like Netflix and Hulu. You can watch hundreds of TV shows and movies for a fraction of the cost of cable. Many of these services can be hooked up to gaming systems and other devices that allow you to watch these shows on your TV rather than your computer.

Get Out Of Debt

It may seem contradictory, but setting aside a little more money each month to pay back your debts will actually save you money every day. That’s because you save money on interest when you pay your debts back faster. This is especially true to credit card bills and private student loans, both of which can have relatively high interest rates. By paying your debts off faster, you can save hundreds or even thousands in interest in the long run.

(Also read: Easy & Effective DIY Debt Reduction Plan.)

Other Ways To Save

There are dozens of other ways to save money every day, including:

  • Buy food and home products in bulk.
  • Sign up for a free discount card at your pharmacy or grocery store.
  • Bring your lunch to work and make more meals at home.
  • Buy a coffee maker rather than stopping for an expensive latte each morning.
  • Sign up for a credit card that gives you cash back rewards for what you spend.
  • Cut coupons and search for discounts when shopping online.
  • Look for cheaper insurance coverage.

If you use these tips, your savings will continue to build up over time. Remember to stick to your budget and you’ll be amazed at just how much less you’re spending on a daily basis.

Sources

Ashley Henshaw

Ashley Henshaw

Ashley Henshaw is a freelance writer based in Chicago. She is a graduate of Loyola University Chicago with a bachelor's degree in English. She has previously written about health, fitness, finance and travel topics for sites such as LIVESTRONG.com, USA Today, The Huffington Post, AOL's City's Best, All Things Frugal and Campus Explorer.

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