7 Little Money Hacks That Will Save You a Lot

Managing money can be stressful especially if you keep finding yourself broke. Today’s economy requires some little money hacks to help you save a lot and keep your wallet happy. There are a number of ways you can cut down your spending and stretch that well-earned dollar. Here are some money hacks you can do.

• Drop Soda and Daily Coffee Purchases

Buying a coffeemaker may sound more expensive than going to your local coffee shop but it will save you a lot of money in the long run. Brewing your own coffee will only cost you around $2.00 per week compared to $20 per week of buying $3.00 cups of coffee. Similarly, dropping soda and shifting to water will save you as much as $243 per year considering you purchase your soda at 40 cents a can. Develop a habit of drinking water, and both your wallet and body will thank you for it.

• Have a No-Spending Day

It may sound like a simple task but you will be surprised how hard it is to avoid spending even just for a day! Practice having a day every month when you will not spend a dime throughout the day. If after six months you succeed, then bring it up a notch by having a no-spend weekend! We tend to spend for little things that can pile up into hundreds of dollars within a month. If we become conscious of these little purchases, we can improve our spending and saving habits.

• Make and Use a Grocery List

You’ve been told time and time again not to go to the grocery store when you’re hungry. But did you know that making and sticking to a grocery list will also help you save a lot? Better yet, place an amount beside each item in your grocery list so you can estimate how much you will be overspending if you buy an item that is not on the list. You can even challenge yourself to spend less than your estimated budget.

• Make a Meal Plan

To help you with your grocery list, consider planning your meals before hitting the store. It may require a little more effort but you will save hundreds of dollars if you spend less time eating out and more time in the kitchen. There are a lot of quick and easy recipes you can check online. Not only will you save money, you will also be able to eat healthier! It will also cost around 60% less than eating out.

• Grow Your Own Herb/Vegetable Garden

If you are practicing cooking meals yourself, then move on to the next step by growing your own herb or vegetable garden. Even if you really do not have a green thumb, growing vegetables and herbs is not that hard. Fresh herbs are actually sold at a very high price in grocery stores, but can be easily grown at home. Have a row of herbs including sage, rosemary, basil, mint, and chives. You can even sell fresh herbs to your friends. Green onions and celery stalks can be placed in a jar of water to start growing. So do not throw away those white ends!

• Use the 30-Day Rule for Shopping

Saw something you like? Skip the impulse buy and wait 30 days before purchasing.  Whenever you’re having that urge to splurge for something that is not a need, then write the item down together with the price on a piece of paper. Stick it on your refrigerator or bulletin board and then wait 30 days before purchasing. This simple trick of delayed gratification allows you to think about your purchase and even look at your bank account. If after 30 days you still want it, then go buy it but do not use your credit card.

• Use Cash in all your Purchases

Having a credit card can be an asset but it can also be a burden. It can make you believe you have the money you are spending. Consider using cash in all your purchases to help you track your budget and savings. This can also help you identify unnecessary purchases you’ve been including in your credit card bill. Do not let yourself drown in credit card debt.

From time to time it’s completely alright to indulge into impulse buying as we are all humans and we need to treat ourselves to something nice (and unnecessary), but if most of the time we skip buying $3.00 coffees and not overdo it with the grocery list then these little saves will amount to a lot of money in the long run.