Updated 2 months ago

7 amazing ways to save money

Sometimes the hardest thing about saving money is just getting started. It can be difficult to figure out simple ways to save money and how to use your savings to pursue your financial goals.

If you are looking for ways to drastically reduce your expenses immediately, first look at what you need to spend money on every week. And I mean really need. You don’t really need to order in food. You don’t really need to buy expensive perfume.

Here are 7 ways to save money when money is tight:

1. Record your expenses: The first step to saving money is to figure out how much you spend. Keep track of all your expenses; that means every coffee, newspaper and snack you buy. Ideally, you can account for every penny. Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Consider using your credit card or bank statements to help you with this. If you bank online, you may be able to filter your statements to easily break down your spending.

2. Bring a stock of food to the office/work: Instead of popping out for an overpriced salad and a smoothie, leave a set of basic utensils at the office as well as a stock of non-perishable goods such as tinned fruit, tuna, rice crackers and so on. Stocking up means you won’t forget or say “I didn’t have the time” when you rushed out to work in the morning.

3. Use public transport and/or don’t get taxis: Some places can only be reached by car. But as a good practice, check your public transport website and see if any routes pass nearby where you need to get to. Walk as much as you can.

4. It seems old-fashioned, but take the loose change out of your pocket, your change purse or your car tray, and save it in a jar. Look for ways to add more money to your jar. Every month or quarter, count the money you've accumulated in your jar and add it to your savings account.

5. Have house parties: Instead of paying for overpriced drinks, set up a series of in-house get-togethers with your friends. Everyone takes a turn, so it’s not always your house that needs cleaning. For sound insulation hang heavy drapes on the walls and windows. For music, invest in a good second-hand set of speakers which you can connect to your computer. Let Spotify playlists do the rest.

6. DIY beauty: French manicures, pedicures, waxing, eyebrows… pretty much all of these can be achieved at home with some practice. There are plenty excellent blogs and YouTube tutorials to help.

7. Always keep in mind your priorities and that thing you´re saving for. At the end, it will be worth the effort.

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