Part 2 of this series will contain even more small ways to efficiently and effectively save money everyday. Some of the ways that you could save money, mentioned in part 1, were the changing of bank accounts, the cutting back on electricity, the selling of old clothing, the writing of a shopping list, the inviting of people over, the drinking of more water, and the adding to savings monthly. Here are even more ways to save even more money everyday.
Cook instead of eating out
Cooking is a dying art amongst young people today. It is an art that can save you major money every week and day. On average, a single person spends about $56 on groceries every week. That would make each meal about $2.70. On average, a meal out costs $10-$15. According to The Simple Dollar, “The average American eats an average of 4.2 commercially prepared meals per week.” Taken into account the average cost of a meal, the average American spends around $58 a week. By simply cooking your own food and eating at home, you could be saving hundreds of dollars a month.
Avoid the mall
One of the biggest ways to save money is to avoid the temptation of spending it. Avoid going to places that you know are big weaknesses for you. If you are tempted at the mall, avoid the mall. If you are tempted at sporting goods stores, avoid sporting goods stores. Stores try with all their might to strategically put things in places to tempt you and have you buy them. It is all about knowing yourself and your temptations when it comes to spending money.
Fix things yourself
Labor costs and buying new things can be expensive. If something is broken in your home, try watching some videos on youtube and reading some books to help you fix it! This is a practical way to help you save money.
Keep a spending log
Sometimes people do not realize how much they spend daily, especially if they use a credit card. Keeping a log of your daily expenses helps you from making rash and impulsive buys.
Carpool or use public transport
According to The Huffington Post, “the average American spends over $2,000 per year just to fill up the tank.” By simply carpooling or using public transportation, you could cut that yearly cost significantly. Plus, you can make meet some pretty cool people and socialize on your way to work.
Make coffee at home
Oh how that Starbucks coffee can boost your endorphins, and at the same time suck the life out of your wallet. If you spend $5 a day on your Starbucks coffee, you end up spending about $1,971 a year, according to Wisebread.com. Think about how much that adds up over time! In five years, the $11,563,07 that you spend on coffee could have gone towards a house or some pretty luxurious vacations. Simply making your coffee at home can be paying you back big time in the long run.