15 Simple Tips From Ordinary People That Could Help You Save A Lot Of Money

Unfortunately, we can't predict the future, and therefore it is important to become financially secure and provide ourselves with some kind of safety net in the event of an emergency.

Stephanie

• Published in Interesting
• January 25, 2020

We all know it's super important to save money, especially in today's economy. Unfortunately, we can't predict the future, and therefore it is important to become financially secure and provide ourselves with some kind of safety net in the event of an emergency.

Without savings, you are putting yourself at potential risk should you experience a sudden loss of income, a medical emergency, or if you are in an accident.

The last thing you want is to end up in debt having to pay for life's unexpected necessities.

But saving isn't always easy. Especially if you don't have a high income, or you have a lot of day-to-day living expenses.

So, what are some easy ways to save? Well, we have some simple tips from everyday people on how they save their pennies, and how you can too.

Scroll down to take a look!

#1 Stop impulse buying

“For impulse buyers like me, this is a really good tip.

When you’re thinking about buying something you don’t necessarily need, imagine somebody offering you the thing in one hand and what it costs in cash in the other. If you would take the cash over the thing from the from this imaginary stranger, you probably shouldn’t buy the thing.”

#2 Wait

“Don’t buy it right now, buy it next week.

You’ll probably forget about half the stuff you’d have thrown your money at in the spur of the moment.”

#3 Buy in bulk

“If you use it often and it’s not perishable; buy in bulk. Especially if it’s on special! I’ve seen guys waste money coming in week after week for a few razor blades (a 3 pack instead of a 12 pack), purely because the small pack is cheaper. No bro, work it out per blade and the 12 pack is cheaper. This works with almost 90% of goods.”

#4 Be reasonable

“If you can’t afford it now you probably wont be able to afford it when the credit card statement comes.”

#5 Pay yourself first

“Pay yourself first.

When you get paid, systematically put some into savings. Decide your percentage beforehand (10% for example) and do it every time.”

#6 Start today

“Don’t start budgeting ‘in a few years,’ start now. Heck, even if you’re in high-school and flipping burgers on the weekend. The ability to create, and stick to, a budget will make a massive difference to your life.

Once you begin to budget your money, you’ll quickly realize where you are blowing your money on stupid shit. Set a limit for the fun stuff, but also have savings – a contingency plan, and you can save up for something you really want.”

#7 Budget

“Budget…like your life depends on it..and it does!

What I do, is set a budget for everything. My utility bill has never been more than $150. So, I always set aside $150. Last month, my bill was only $88, so $62 went into savings.”

#8 Give up expensive habits

“Quit smoking.”

#9 Homemade is fine

“Don’t buy an $8 coffee every morning.”

#10 There's a difference

“Learn the difference between need and want.”

#11 Thrift shop

“I did a quick look, but didn’t find it listed:

Don’t by new ALL the time. Make a list of things you want to buy, and go check out refurbished (with warranty), check out thrift and consignment shops. Check out craigslist (but don’t succumb to the craigslist killer).”

#12 Special occasions only

“Make your own meals.

Don’t eat out.”

#13 Avoid at all costs

“Do absolutely everything in your power to avoid paying interest / fees. It’s just throwing money away.

If you buy unnecessary things while in debt, think of it as paying interest on those purchases.”

#14 Start young

“When you’re younger, and therefore don’t have to pay bills or whatever, any paycheck you get, split it in at least half, and put half into a savings account, and the other into you’re normal account. This has helped me have a fairly large sum of money for someone my age just sitting there, for when I need it.

Just to clarify a few things and why this still works for me

I am living in Australia

I live at home

My parents are not super rich, but not poor either.”

#15 Lay off the booze

“Drink a pint of water in place of every third pint of beer. Saves you money, and your liver will thank you.”

What are your best money saving tips? Be sure to let us know in the comments!

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Stephanie