Are you trying to figure out how to keep more money in your pocket? Read this article to learn the best tips for how to save money every month.
The median household income in 2017 was $61,372. Many people don’t see a way to raise their income, so the only other thing to do when you want to buy something or get out of debt is to save money.
Saving money isn’t as simple as it sounds since there are so many opportunities to spend money when we should be saving. We are here to help you get the most out of your money. Continue reading this article to learn how to save money every month.
1- Keep Up Your Health
Health problems can cost a lot of money. If you don’t have health insurance, then preventative healthcare, treatments, and medication can be on the pricey end of things.
Eating a healthy diet, exercising, and taking care of your mental health will help you stay in the best shape possible.
No matter how hard you try to take care of your health, you might need medications to keep your body running at its best. Learning how to save money on prescriptions that you do need will allow you to save thousands of dollars over your lifetime.
Since you need prescriptions every month, if you learn how to save money on them, this will be a major reduction in monthly costs.
2- Turn Off the Television
Television is one of the places that will influence you to spend money. There are ads and influencers that are trying to get you to spend money on their products and services. It’s not only that, though, because turning off the television means you’ll likely disconnect costly cable or satellite that you don’t need.
3- Don’t Hoard Things – Get Rid of Them
If your garage is stacked full of things you never use, then it’s time to have a garage sale. The things in your garage aren’t helping you make any money, and they are likely causing you some stress.
If you don’t want to sell your things, instead of keeping these things in your garage or in a storage shed, donate them to charity. If you do this, you’ll start training yourself that you don’t buy things and keep them. The next time you go to buy something that you don’t need, you’ll think twice.
4- Work Out at Home
Do you have a gym membership? Choosing to work out at home instead of going to a gym saves money on your gym membership. Working out at home also helps you pay less for gas each month, and you’ll put fewer miles on your car, which will allow it to last longer.
5- Check for Less Expensive Cell Phone Providers
If you’ve had your cell phone plan for a long time, you might be paying too much. Cell phone service has become more accessible to people nowadays, and that means that it may be cheaper than what you are currently paying now.
Do a comparison online or call around and see what kind of plans are available. See if they have any discounts if you’re in the military, or if you’re a member of certain clubs.
6- Consider Moving
Do you live in a home that is bigger than what you need for you and your family? If there are only four of you and you have a five-bedroom house, you might be in over your head with housing.
Even if your house isn’t too big if you live in an expensive neighborhood, you might be able to get the same size house for less money. A less expensive house means a lower mortgage payment or rent payment each month.
7- Drive an Economy Car
Is your vehicle a luxury vehicle or a gas guzzler? The type of car you drive has a lot to do with how much money goes out each month.
The more expensive your car is, the more the monthly payment will be, the more the insurance will be, and the more expensive repairs are going to be in most cases.
If you drive an economy car, you can keep costs down every month, and you’ll be able to get to where you need to go.
8- Stick to Your Shopping List
Creating a shopping list and following it is a must. If you go to the store without a list, it’s easy to grab everything that looks good to you. That is especially true if you go to the store when you’re hungry.
Shopping for food without breaking the bank is a learned skill. Look at what you like to eat, create a plan, and write out your list in a way that makes it easy for you to get around the store and out as quickly as possible.
9- Sign Up for Rewards
Credit card companies, grocery stores, and other places have rewards if you know to sign up for some. Some of them come automatically when you use them, but others require you to opt-in.
Most reward programs either give you a percentage of cashback, or they give you a discount at the time of purchase.
10- Compare Prices When Buying Anything
Even if you have a favorite store, you should compare prices when you go shopping. A store might have a sale on something you usually eat that could make a big difference in your grocery bill. In some cases, you might be trying to buy tools, yard equipment, or something else important, and they might be on sale in one location and not another.
Learning How to Save Money Every Month
Now that you know how to save money every month, you’ll be able to get more out of your money. You’ll be able to save to get things that you really want instead of making impulse buys.
Do you want to learn more about saving money and other personal finance topics? Keep reading through our blog to get the information you need.