Lots of people want to cut back on their spending so that they can put more money away and plan for the future, but many of those people don’t want to change the lifestyle that they lead. We can get awfully used to having little luxuries in our lives, and when faced with the prospect of losing them, we can feel terribly afraid! However, there are a few ways you can cut back and barely notice what you’ve done. Below you’ll find some suggestions that should give you some extra money to put into your savings, investments, retirement fund, or even to treat yourself occasionally. Take a look!
Audit Your Spending
Start by auditing your spending. Take a good look at some of your bank statements and figure out where you could be spending smarter. Many online banking systems and even apps can help you to do this if you want to get serious. You might realize that you’re spending far more on certain aspects of your life than necessary.
Make Your Own Coffee
Lots of people love treating themselves to a takeaway coffee, or even sitting down with one to people watch in their favorite coffee place. However, this can really add up over the course of a month, especially if this is happening a handful of times a week. Make your own coffee and put it in a takeaway cup instead. Even if you invest in a coffee machine, it’s going to be so much cheaper doing it this way.
Do Your Food Shopping Online
Doing your food shopping online can stop you from being tempted by offers and things that you don’t need. Regardless of where or how you shop, always make a list beforehand so you can stick to it and you don’t get tempted by deals. Having a list means you can be vigilant and strict with yourself on what you buy. Don’t stray from your list unless you really need something, or you know the price justifies it (for instance, a great bulk deal that you know you’ll make great use of). Don’t forget to use COUPONS!
Switch To Store Brands
You don’t have to completely switch your branded shop in one go. You could simply switch one item at a time so you can get an idea of what you like. A lot of the time, the only reason we buy certain brands is fancy marketing. Cutting back on expensive brands means eating and enjoying the same things for much less.
Check for Subscriptions That You Don’t Use
If you have subscriptions you don’t use, such as a magazine, music, or gym subscription, cancel them. Many people don’t want to cancel their gym membership as they convince themselves that they are going to go soon, but months can go by with no gym visits. Get into the habit of working out at home or outdoors and you’ll save money and get fit at the same time. Plus you’ll build a habit, so you’ll know whether you want to join a gym in the future!
Use Cashback Sites And Coupons When You Do Have To Spend
When you do have to buy something, use cashback sites and coupons so you can save money. Always hunt for a deal before you buy, and compare prices. You can also calculate opportunity cost to make sure that what you are buying is going to serve you well and be worth it! You’ll get a sense of satisfaction when you do this.
Make Your Own Gifts
Instead of splashing out on fancy gifts, show somebody you care by taking the time to make them something instead. Creating a gift can be so much more meaningful, as you’ve actually put real time and effort into making it. There are some great ideas online you could try, even if you’re a beginner!
Look For Inexpensive Entertainment
You don’t always have to spend a lot of money to have fun. You could make your own picnic at less of a cost than eating out, and even start going to free museums and galleries to get out of the house and learn something new. Have a look at the free events in your area and surrounding areas, and you might be surprised at what you can do!
Ask For A Better Deal
Don’t be afraid to ask for a better deal. You might be able to get a better deal on your phone bill, internet, and even your TV right now if you just call up and ask. If you can’t get one, consider switching!