Not having enough to put away is probably the most common excuse for not saving money, explains Carol Young, Kansas State University Research and Extension family financial management specialist, to sheknows.com in an article about money saving tips. But the ability to save money isn’t about how much you bring in; it’s about changing the ways you spend the money you make. By slightly adjusting their daily routine, people of any income can save money at the end of each month. Here are some easy ways to get started:
In the Morning
The more water saved, the more money saved. Begin your morning with a quick shower and turn the faucet off when you brush your teeth. Make a smaller pot of coffee because you end up throwing half of it away anyway.
Get Fit
If you start your day with a workout at the gym, consider switching to an alternate location like a local park. A gym membership isn’t necessary to get or stay fit. Hike, swim, jog or bike in recreational areas in your neighborhood. If you live in an area that gets extremely cold and snowy during the winter, consider a YMCA membership.
Eat In
Even if you grab a sandwich and coffee at McDonalds on weekday mornings, it can cost $10 or more per week. That’s $40 per month and $480 per year! A breakfast at home is less costly and often more healthy. Also, ditch the $5 a day Starbucks habit and brew your own coffee at home. If you’re someone who just has to have your Starbucks, sign up for their rewards program, shop specials for cheaper prices and take note of discounts — like bringing your own mug.
Before You Leave
Before you leave your home for the day, switch off all lights, fans and the a/c or heater. If you work for eight or more hours a day and no one else will be home, why pay for wasted energy? If someone is going to be home, consider using fans instead of air conditioning.
Efficient Commute
A personal finance blog offers some valuable tips to travel more fuel-efficiently. It’s best to carpool, walk, bike or use public transportation as often as possible. Also, simple changes like driving defensively, removing unnecessary weight from your vehicle and taking the shortest route possible are easy ways to cut back on the amount of gas you use. If you’re in the market for a new vehicle, a hybrid car like the Honda Insight or a compact car like a smart car are great options.
Lunch and Dinner
Sheknows.com suggests saving eating out for special occasions. Pack lunches to take to work; going out to eat every day for lunch or dinner adds up quick! Plan meals for the week on Saturday or Sunday and shop with a list. This prevents impulse buys and excessive luxuries you don’t need. Farmers markets often have very low-cost produce. Check ads before you go to the grocery store to see what’s on sale and find a way to incorporate sales into your meal plan.
Lee is a financial advisor who writes for several online and print business publications.
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