When we talked about passive income with Rachel Richards, we also discussed ways to make more money ASAP. Certainly adding more money to your account every month will help your bottom line, but so will saving money. There are a million ideas + theories on how to save money. I am sticking with some of the easiest ways to save money because with everything else I have going on, easy is what I need.
My finacé + are in the market for a home. I’ve written before about all the surprising expenses that come along with that, but this market is truly next level. People are coming in with cash offers tens of thousands of dollars above list price with no contingencies. That is something a young couple can’t compete with. So, we are looking to rent for another year in the hopes that the market will cool down + to save a bit more money.
Some of the Easiest Ways to Save Money
- Pay yourself first! Whenever you get your paycheck, put a set amount or percentage of money into your savings account. Don’t consider this money in your monthly budgeting. It is off-limits. This includes contributing to your 401k or an IRA.
- Try a no-spend challenge. For a set period of time, don’t spend any money on luxury items. This can help put a microscope on your spending habits + show you what you really don’t need to spend money on.
- Collect your change. Don’t leave your change sitting around. Place it in a jar, piggy bank, whatever. It may not seem like much, but that money will add up over time.
- Use coupons. I know it may sound so 90s, but so many stores have coupons on the stuff you buy. It is one of the easiest ways to save money. Target and your grocery store apps have tons of coupons on things I am going to buy either way + the Sunday newspaper is full of manufacturer coupons.
- Meal plan. By planning out your meals + you will know exactly what groceries you need. Have it delivered or set for pick up so that you don’t get caught up in the store + add extra items to your cart.
- Get cashback. There are some things you just have to buy. Get something out of those purchases by using a cashback card (or one that offers airline miles). For online shopping, I LOVE Rakuten. To date, I have gotten over $100 back just by using the app/plugin on purchases I am already planning to use. Pop that money straight into savings as your reward!
- Invest in quality items. It may seem counterintuitive to spend more money on something, but it can pay off in the long run. Buying quality sheets, clothing, dinnerware, etc. allow you to use them more which ends up reducing your cost per use than cheaper items.
Saving money isn’t always *easy* but these are some of the easiest ways to save money I can think of. I also suggest avoiding the dollar spot at Target…