Today, I’ll be sharing with you my top 10 brilliant money saving tips.
I don’t know what you like to think, but saving money is hard. Yes, hard. I know this because I’ve found myself relapsing after every ‘I must save money henceforth’ pledge.
Don’t get me wrong, it’s very easy to set aside a chunk of your income as savings, but what is not easy, is keeping that chunk of money as the savings it was meant to be.
Soon enough, you’d discover you suddenly need money for a very important personal business, making you empty the saved up funds and then you’ll find yourself promising you’d save again when the next money comes and then the circle keeps repeating itself over and over again.
Are you alone in this? No.
Most people struggle to save money. And this is mostly because they fail to realize that saving is a habit that needs to be nurtured. It’s not a small matter of just waking up one day and saying to yourself “today I want to save money”, no, you need to HAVE A PLAN to do it (though telling yourself you want to save is definitely a step in the right direction).
But then, it doesn’t stop at that. You have to put in the effort and deny yourself some pleasures you’re already used to. You have to HAVE A PURPOSE for which you need to save for and set your targets.
So basically, saving is so much more than just a random, emotional self-declaration of ‘I want to start saving’
Without further ado, let’s dive straight to my top 10 brilliant money saving tips that you won’t find anywhere else on the internet.
MY TOP 10 BRILLIANT MONEY SAVING TIPS
Buy Second hand
Seriously, do you really need that expensive item new? Other than to show off and have everyone hail you for using a product brand new, I see no reason you should go for new items. There are several online and offline thrift shops you can go to for affordable second hand items. Also, you can look for neighbors and colleagues willing to shed some of their personal belongings and buy directly from them. You would save much more when you do this.
Cook your meals instead of eating out
You would spend much more money if you keep eating out than you would when you cook your meals at home. Cooking your own food gives you the opportunity to benefit from the numerous discounts that comes with buying ingredients, as well as, spending less generally, because (even if you don’t know it), when you eat in a restaurant, you’re charged more for services – the air conditioning, packaging, etc., making you spend more than you would when you eat at home. So learn to cook your meals and eat at home, it’s a habit you must imbibe if you want to save money.
Getting another source of income
Having another source of income is always a good way to have more money to save. So if you really want to save, you should look at getting a side hustle to augment what you make from your normal 9 – 5 job. These days, there are several online hustles you can invest on for more money. It wouldn’t even take a chunk of your time or disturb your main job. So look them up and invest in the ones you’re interested in, and before you know it, you’ll find that you have much more to save than before.
Use coupons and discount deals
Couponing is a habit you must cultivate if you hope to save more money. Binge on coupons and discount deals. Don’t just buy every item at cost price, inquire to know if there are juicy coupons to reduce price or discount deals for a particular number of products you buy, and make use of the offer. Most supermarkets and stores are always more than happy to offer discounts and coupons on products, so always try to find out about this. If you do this, you’d definitely be saving more money.
Cultivate the habit of haggling
Haggling means beating down price of things before paying. If you want to save money, then you should learn to haggle. You should know that the first price you’re told whenever you go to a local market, has most probably been increased by the seller. If you’ve mastered the art of haggling well, then you can beat down this price up to fifty percent lesser than the price you were told. If you’re not too sure, you can always check with the next person selling the same product and compare prices.
Get a not-so-easily-accessible savings account
One of the top brilliant ways to save money is to get a savings account that you can’t easily access funds from. To do this, you can choose not to obtain a credit card linked to that account you want to save money in, so that funds can only be withdrawn over the counter. Don’t even activate mobile banking or USSD codes to access the account. That way, when you do really NEED funds from the account, you’d go through the stringent, over the counter withdrawal process, as against using credit cards. If you’re able to have this account in place, it’ll help remove every temptations to spend from the money you have saved.
Buy in bulk
Buying in bulk is another brilliant way to save money. By buying in bulk, you’d get to enjoy huge price discounts that come with bulk purchases. So many household items come with discount prices if you are buying in bulk so you should learn to take advantage of this.
Take public transportation
If you own a car, you should consider using public transportation more often if you want to save money. Taking public transportation is far less expensive than driving in your private car because it’ll definitely cost more to fuel your car than pay the usually cheap transport fares. So if you want to save money, leave the luxury of using your own private car for now and use the public bus.
Go on no-spend fun activities
There are several ways to actually have fun without spending money. I have taken my time to list 20 ways you can have fun without spending money here. So instead of spending money every other weekend to keep yourself entertained, why not choose from the varied free fun ideas there and see if they’ll keep you going. If you can cultivate the habit of spending less to have fun, then you’ll definitely save more.
Draw out a savings plan and set a target
Having a well mapped out savings plan will definitely help you save more. So other than just telling yourself you want to save, you should go the extra mile of mapping out a good savings plan and setting a certain target for yourself. That way, you’d not only be ensuring you stick to your to your savings plan but also, you’d be able to pat yourself on the back when you reach your set savings target.
So there you are. Don’t just think about starting someday, start saving today. Today’s always the best time to start.