Who wouldn’t mind a little extra money in their pocket?
Some of these tips take discipline and may be difficult at first to implement into your life. But I can assure once you get in these habits you’re going to wish you started a long time ago.
When I had my first daughter my husband and I decided that I would stay home. It was something that I really wanted to do and we knew if we made some sacrifices and be frugal with our spending we could make it happen.
I’m not saying it was easy cutting back, because it wasn’t.
Before I had kids I was making decent money working at the bank. Making my own money I never really thought twice about how I was spending it. It was my money and my thought process was, well I’ll make it up when I work tomorrow.
I use to get my hair colored, manicures and pedicures often, eat out A LOT, go shopping and buy whatever was appealing pretty much. Money wasn’t too much of an issue because I was working.
However being on one income has forced me to get creative and cut back on my spending lifestyle. However I think to myself all the time jeez, if I could have installed these habits while I was actually working I’d have so much money now!
But it is what it is, you live and learn.
Anyways folks, these tips below are what have personally helped me and my family live on one income. We have 3 kids, take family trips often and own more then when we had 2 incomes. It’s been an adjustment but totally worth it!
25 Money Saving Tips You Can Start Now-Whether It Be Getting Out Of Debt Or Saving For More Experience’s
1. Cut Your Own Hair (there are plenty of YouTube videos on how-to)
If you’re like me, and typically only get a trim when getting a haircut then this can be a super easy money saver. As much as I love the treatment of having my hair washed and blow dried while I just sit there, it can be expensive. I have cut my hair, added layers, and gave myself bangs all through watching how-to videos on youtube. If you’re thinking of going from long hair to short, well then, I would suggest a professional. When you begin cutting your own hair getting your hair done by an actual professional can feel like a real treat and more deserving.
2. Pre-plan Your Meals
When you begin pre-planning your meals you only begin buying what you actually need to make those particular meals. Look through your fridge and pantry and ask, “What can I make with this?” If you can get in the habit of doing this there will be no more things sitting in your fridge or pantry going bad or becoming expired.
3. Wait Till Movies Come Out On Redbox/Netflix/etc. VS. Watching Them At The Theater
If you go to the movies often this can really add up. With the tickets, snacks, and popcorn, it’s very easy to spend more then 20 bucks every time. Especially if you enjoy the theaters with the reclining chairs. Save going to the movies for special occasions or for movies that you really really want to see. Most of the time you can wait and you can put that money towards something else.
4. Embrace Your Natural Hair Color Instead Of Coloring It
How often do you color your hair? Color can be very expensive. I think most of the times I have colored my hair it has always been 80 dollars or more. But since I’m saving money I have embraced my natural hair color and my hair hasn’t been colored in almost 2 years (around that time anyway) If you just love color then I would suggest going with highlights vs. a solid color. That way when it does begin growing out it looks a little more natural and won’t need as much retouching.
5. Do Work Outs At Home Instead Of Paying A Gym Membership
Typically gym memberships are 20 dollars a month or more. From what I can remember anyway. I use to love having a gym membership but when you’re saving money a gym membership is more of a luxury than a necessity. There are some great at home work outs all over the web. You may need to get a little creative but you’ll soon learn you don’t need the membership to stay fit and strong.
(YouTube has great work outs you can do in your home. I personally love ‘bohobeautiful’. Her videos are yoga related.)
6. Cancel your cable (with smart TVs now and Netflix who really needs cable?)
My husband and I had cable for years. We always had the cheap package but we still had cable. We are so busy doing other things that we hardly watch any TV. The only people that really watch TV are the kids but when they do watch TV its something they enjoy on Netflix or youtube. SO, we went ahead and canceled it. We figured if we wanted it back we will just call and get it back. It’s been a few months now and still no eagerness to get cable back. If anything it has given us more time back to do more things that we enjoy.
7. Shop The Clearance Racks Or Try Thrift Stores
Whenever you need something always check the clearance section first. Have you ever bought something and then in two weeks you see it in clearance? The worst right! Check clearance, or wait for sales. I personally am going to begin checking out thrift stores. When I was younger my mom and I absolutely loved thrift store shopping. And now, I hardly ever go. If you have the time you really can find some amazing treasures that would definitely be more expensive elsewhere.
8. Try The Generic Brands, You May Be Surprised
Not all generic brands are great, however you may come to find you enjoy the generic brand or style better. It’s typically a good chunk cheaper and works just as good.
9. Eat out less
Going back to tip number 2, pre-planning meals can definitely help with eating out less. I personally love love love eating out! So if you catch me eating out its because I am treating myself. But if you’re buying your lunch everyday or going out for dinner or drinks with co-workers every other night a lot of money is going to waste. If you’re a person who feels they do this I challenge you to add up your receipts, the number may be shocking.
10. Avoid Buying Expensive Clothing Or Accessories
Particularly name brand. We all know how expensive name brand clothing or accessories can be. So much sometimes it’s absolutely ridiculous. My mom, bless her heart absolutely loves Michael Kors. One time it was my mom, my husband, and myself and for whatever reason I asked her how many brand name purses she had. I was expecting like 5 the most. She said maybe 20 (which we know she has more then 20) my husband and I looked at each other in shock. We began discussing how else all that money could be used. A purse here, a watch there, 2 or 3 pairs of heels there….it adds up. I personally rather put that money on a vacation. If there’s something you really want, save it for a birthday or maybe an anniversary.
(some clothing and accessories are very pricey, how else could you be using that money?)
11. Review Your Bills And Create A Budget
Sometimes you look at your bank account(s) and you ask yourself, where the heck is my money going. Take the time to figure it out. Identify the problem and concur it. A big issue that most of us face is we spend more money then we have coming in. Learn to live within your means and be happy with it.
12. Review Any Monthly Subscriptions (do you really need those magazine subscriptions?)
There are monthly subscription’s for just about everything it seems. Take the time to review what you are paying and how often you really use it. What I’ve seen lately all over social media are subscription boxes. You pay a monthly fee and you get a box of goodies of whatever you signed up for. They have make-up boxes, dog boxes, book boxes, etc. You name it, I guarantee there’s a box for it.
However, do you really need it?
13. Create A Limit With Holiday Spending (especially with gift buying)
Many of us go into debt when the holidays come around. We charge it on a credit card then spend the new year paying it off. Your kids probably don’t need all those toys and is that what so and so really wants. Create a budget with your holiday spending and find out what people want or need so you don’t end up overspending or wasting your money on something that could be cared less for. Also, stick to the budget. I will say it again, stick to the budget.
14. Figure Out If You Can Consolidate Your Debt- Work with a Financial Advisor
If you have a lot of debt it doesn’t hurt to speak with an advisor or banker. A debt consolidation or refinance could save you more then you think. Just make sure whoever you are working with you really trust. You don’t want to end up with even more debt.
15. Do It Yourself Projects Are Big For A Reason (most of the time you can DIY and it’s cheaper)
We hire people for this and that when in reality, you could probably do it yourself. OR, we see things online or in the store and it can easily be made.
You can make the quality better and will save you money! The benefit of doing things or making things yourself is you end up appreciating it a lot more and saves you money.
16. Make Things Visible-get organized
So many things we forget about because we can’t see it. It becomes expired or we completely forgot it even existed and we’ve bought multiples. Take the time to go through your things and make it noticeable so you don’t catch yourself buying something that you already have, you just probably forgot about it.
17. For Everything That You Buy Ask Yourself, “is this a necessity or a want?” (Be strong)
I love retail therapy just like the next person, but truth be told most of the things we buy we don’t actually need. For everything you buy I challenge you to ask this question and most of time you will find it’s a want not a need. And if it is a want, you could be saving that money and using it elsewhere.
18. Make Meals At Home And EAT THE LEFTOVERS
This is somewhat related to tip number 2. It’s not enough to just pre-plan your meals you have to actually stick to it and make it. And eat those leftovers! Honestly, I’m not the biggest fan of leftovers. However if that food ends up in the trash then I just threw away money. So in this house we eat leftovers.
19. Give Yourself Manicures And Pedicures
If you’re getting your nails done every two weeks then those little pennies are adding up. I love getting my nails done. But it’s now become a reward to myself or something I enjoy doing before going on a trip. Doing your nails yourself is rather simple, you just need to make the time to do it yourself.
20. Tweeze your Brows Yourself
Another thing I use to do back in the day every two weeks was getting my brows done. If I wasn’t getting them waxed I was getting them threaded. But once I became a stay at home mom I decided to not do it anymore. So not doing that one thing for the past 3 years has saved us $1,080. Holy crap! That’s the first time I’ve done the math on that.
Since then, I’ve grown them out more and just tweeze now. I stick with my natural shape and let them be.
21. Save Your Gift Cards
I’ll be honest I have re-gifted gift cards. That, or I have used gift cards to buy other gifts for parties or whatnot. It’s a very simple method to provide gifts to others without touching money from your bank account. I don’t do this all the time but I definitely have when I am saving money for whatever reason.
22. Brew Your Own Coffee (SO.MUCH.CHEAPER.)
If you’re spending 5 bucks on coffee 5 days of the week you’re spending about 25 dollars a week, which is 100 dollars a month on coffee. WHICH, is 1,200 dollars a year. You’ll spend less money buying a decent coffee maker and making it yourself.
(If the barista knows your name, you’re probably spending too much money there)
23. Rent Space In Your House (if you have an extra room, get a roommate.)
This may not work for everybody but if you have an extra living space consider getting a roommate or allow a family member to move it. Charge them monthly and put that money towards your mortgage, debt, into a savings, etc.
24. Be Cautious Of Little Expenses (a dollar here and there really adds up)
We’ve all been to Target or TJ Maxx and get in the trap of those little cute things that you had no intention on buying but now they are in your cart. They are seen at check out, once you walk into the store or maybe in the middle of an aisle. Those are traps. Eventhough sure it’s just a dollar, or two, or three….well, they begin to add up and if you are doing this every time you shop you’re spending more then you think on pointless things. Be aware and cautious.
25. DO YOUR BEST NOT TO STRESS
Money makes us stress. But do your best to not allow it to control you or even upset you. With these saving tips you will have more money in your pockets that you can splurge elsewhere (on trips for example) or you will be on the road to getting out of debt faster.
Hope these tips help! I’d love your feedback!
Are there any money savings tips that you can share?