Tuesday, 22 January 2019

Budget Planning Money Saving Tips: How To Save Money

Money is easy to spend and hard to save, but there are a few things that you could do to make it a little bit easier to save money. In this article, I'm going to share 20 of my money-saving tips. These are things that I've applied myself over the last few years and they've saved me roughly $30,000 a year. If you're interested in learning from my experience keep reading the article

Note:  All of the tips here are based on my personal experience. Things that I've chosen to cut down on and I am not saying that you need to do that. It's just me sharing my experience with you and hopefully, you can take something away from it, something that resonates with you

The second thing I want to mention, which is important things is a lot of the change that I've made in terms of how I spend money as a result of changing my lifestyle. I don't live that way anymore. I live in a very simple and minimal way and as a result of that I've been able to save all this money

Let talk about the tips

TIP 1: I use the library instead of buying all my books. And that saves me a lot of money

I no longer buy books the way I used too. I used to buy at least a book a lot in the past. I am not saying I never buy books, I occasionally do buy books but only if I truly love them and I want them to be part of my collection. I don't buy everything the way I used to. So I would say that I save $40 a month by not buying books. That amounts to $480 in a year.
Savings: $40 per month = $480/year

TIP 2: I Got Rid Of Cable TV

I used to have both cable TV and Netflix, but I never watched cable TV. It was just a wast, so I got rid of it. I'm saving roughly $60 a month by not having cable so that amounts
Savings: $120 per month = $1,448/year

TIP 3: I Don't Eat Dinner Out

This is the big one. I don't eat dinner out as often as I used to. I used to eat dinner out at least four times a week. Tow times with friends but I don't do that anymore. I would say I eat dinner out maybe two times a week now. I would estimate that I save roughly $90 a week. $900 a week amount to $2,340/year
Savings: $900 per month = $4680/year

TIP 4: I Cut Down On Bottled Water/Beverages

In the past, I never really bought bottled water for a daily thing. I had a filter but I would buy bottled water on the go when I was out and I would buy things like ice tea and this was a regular occurrence. I no longer do that. I take a water bottle from home with me all the time. That saves me roughly $30 a month which is $306/year
Savings: $30 per month = $306/year

TIP 5: I Eat More Plant-Based Meals

I wanted to mention that I'm not a vegan, but I do eat a lot of plant-based meals
Note: You don't have to be a vegan to benefit from plant-based nutrition. Find a balance that works for you
I used to eat a lot of meat in the past and over the last three years, I've reduced that significantly. I would estimate my saving to be roughly $40 a week because I'm not buying red meat like lamb, or buying seafood as much. So that $40 a week amount to $2,080/year
Savings: $40 per week = $2080/year

TIP 6: I Unsubscribed From Promotional Email

I have subscribed from those email that tells me to buy things! You sign up for emails from stores and then you get those promotional emails... 40% off 50% off? This is super tempting! I was buying things I didn't really need that didn't serve a purpose. It was just buying for the sake of buying.
Savings: $160 per month = $1,920/year

TIP 7: I Cancelled Magazine Subscriptions - Use The Libary Instead

I used to have four magazine subscriptions in the past and now I have none. If I want to buy a magazine, I'll buy it but it's a rare occurrence. But I won't subscribe to a magazine the way I used to and I get them from the library. I'm quite happy using the library magazine so I would estimate my savings to be $120 in the year
Savings $120/year

TIP 8: I Reduced Alcohol Consumption - Especially At A restaurant

I don't drink out as often as I used to. So when I get a drink at a restaurant, especially for an expensive city, you're getting a cocktail, sometimes it can be upwards of $15 a cocktail and that adds up. If I do drink which is very limited because I don't enjoy it as much as I use to, I'll drink at home. I have a small amount at home and it's not that expensive when you're having it at home.  Restaurants have a huge markup. I estimate my saving to be $100 a month which is $1,200 a year.
Savings: $100 per month = $1,200/year

TIP 9: Meal Planning

I'm not talking about meal prep but meal planning. Meal planning is where you're figuring out what you're going to make. A rough plan for the week and you go grocery shopping base on that list. I did do that in the past, I just went to the grocery store and got whatever I felt like, and by the end of the week there were a few items that went bad and I had to throw them out which was a waste of money. I was buying too much stuff, I was buying junk that I didn't need, but now with a list, I stick to it and I don't buy all those extra things and there's no food wastage. So I would estimate the saving to be $70 a month which is $840 a year
Savings: $70 per month = $840/year

TIP10: I'm Start To Enjoy Staycations More Often

It may not be for you. I used to be a big vacation person in the past. I would go on vacation twice a year. I would spend several thousand dollars. It was something I valued at that time but now that I've changed my lifestyle I don't value a big vacation as much. I'm okay having one vacation and then having one staycation instead of two big vacations a year
Savings: $5,000/year

TIP 11: I Don't Buy Disposable Cleaning Product

I used to buy a disposable cleaning product such as disinfecting wipes, paper towels, mopping pads, all that stuff, and because it's disposable you have to continually buy it and it truly does add up. So I don't do that anymore. There are other ways of cleaning with reusable items and cleaning very simple product and I would estimate my savings to be about a 
Savings: $8-9 per month = $100/year

I just want to say that, this has been a result of changing my lifestyle. Changing my priorities and going from a somewhat more materialistic lifestyle to a simpler and more minimalistic lifestyle and a healthier lifestyle. I think cutting out the eating, cutting out all those expensive meals, the alcohol, and eating at home. I still enjoy my life


There are still many more but I don't want to make this article very long, so I have to make it short, you just have to think of something that you do often that cost you so much money. Then cut it. I hope you enjoyed this article and you learned something new from it and maybe you can relate to some of my experience.

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