Getting financial freedom is not only about making money but is also about planning and saving money.
Planning and budgeting to cut unnecessary costs and expenses and then use the money healthy way to generate more income and resources.
In this post, I will go over 29 simple money-saving tips. With the use of these tips, you can double your savings and bank balance just within three months.
29 money-saving Tips;
1. Reusing of Items
Reusing items in the home not only can save us money but also keep the environment clean. We can use old cloths for dusting and cleaning. Old bottle for keeping small items like keys, pens, pins, etc. We use empty boxes for clothes, paper, books, etc.
2. Budget for the Month and Week
Not everyone enjoys budgeting and planning, but keeping the cost and expense according to budget keeps you on track about your expenses. It helps where most of the income is going and how can easily you control it.
3. Buy in Bulk
We all do a purchase, but purchasing in bulk can save a lot of money and time. Purchasing for a week or month in the bundle can save a lot of discounts and bulk benefits.
Insurance is a great way to secure your car, business, home, or life. Yes, it will cost you a little money in the beginning, but no one knows about the future. Insurance is nothing more than saving money for future use and unexpected needs.
5. Use of Coupons
Using coupons is a great way to save money on stores and shopping list items. Coupons will give us the advantage to purchase and save on things that you need and don’t think about things that are of no use.
6. Less use of Credit Cards
A credit card is a simple way to make a purchase, but it hurts your wallet and bank balance when bills come at the end of the month. Wise and effective use of credit cards is a must for getting the flow of money in control.
7. Shopping at the end of Season
Shopping at the end of the season can bring double items at half the cost. When the season ends the businesses want to sell the goods and start working on new goods for new seasons. At the end of the season, you will buy all items at cost price.
8. Sale Shopping
Shopping from stores, malls or bands which offer discounts and sale offers. Shopping from the sale can save you a lot of dollars at bigger brands and stores.
9. Don’t Compete with neighbors or Co-workers
We all need to spend according to our needs, earnings, and don’t look at the neighbor’s lifestyle. You and your earnings are different from your neighbor and so don’t look for neighbors but look your inside and try to be grateful for what you have.
10. $1 stores
There are $1 stores on every corner of big markets. Buying small items from $1 stores can save you a lot of dollars every month.
11. Care for needs and look for wants
We all have unlimited wants and desires, which are impossible to fulfill in his world. But if we just start looking at our needs, then we can get easily financial freedom. Just focusing on needs we can save and invest a lot of money that, in the future, we can fulfill all our dreams and desires.
12. Enjoy Free Entertainment
Instead of using Netflix, Amazon Prime, or other related premium services and memberships, we can use free movies apps or YouTube for entrainment. Instead of YouTube premium, We can listen to free music and podcast on Deezer, Spotify, and many other free apps.
13. Pay Bills on Time
Paying bills on time will cost you nothing but can save you over $5 late fee surcharge for every bill. Paying your bills through the bank or online is also a great way to save time and money.
14. Making Money from the Hobby
We all have some kind of passion, interest, skill, or experience. In today, online world we all can monetize our skills and can make from hobby and passion.
15. Shop Online
Today there are online stores for every item of life. Just visiting different stores and brands from your mobile and purchasing the quality items at a reasonable and discount price can save us a lot of money every month.
16. Track Your Expenses
Tracking your expenses can help you with managing your expenses on one hand and also controlling the cost of unnecessary things can save you a lot of money. Just cut out the things from your budget that are of no use.
17. Keeping Health and Saving Doctor Cost
Just with a little exercise and natural food we can keep ourselves healthy and fit. Good health can save us a lot of doctor’s fees and medical expenses.
18. Single Bank Account
Keeping a single bank account can save us not only bank service charges but also help to keep close eyes on finance. You will know about your income and in a smart way will allocate your expenses.
19. Stop Borrowing Money
Borrowing money for your business, education, or living is a poison for your life. Living at a low cost is much better than taking money from banks or others at interest. The circle of debt and interest will shrink your focus and attention and will keep you in stress all the time. You will spend a major part of your life just making money for others.
20. Using what’s up, IMO, Messenger, etc instead of Phone
Today everyone has smartphones and apps for social use. Instead of using a sim card we use calling and messaging apps like What’s up, Facebook, IMO, etc can save us hundreds of costs from our phone budget.
21. Freezing the Food
Shopping for food items in bulk in season and then freezing can save us a lot of money. Free natural things keep the same taste, and it’s good for health. Using chemical made substitutes for food items can cost us a lot of money, and it has side effects on our health.
22. Eat Home Kitchen Foods
There are millions of easy food recipes are available online for free. You can learn from these recipes and prepare your food at home. Eating home kitchen foods are healthy and clean.
23. Control Smoking Habit
Smoking not only cost you money but is also dangerous for your health. Controlling your smoking habit will not only save you money, but it will give you the focus to be more productive in your life and work.
24. Repair Your Clothes with Minor Defects
Sometimes from minor defects like a broken button or a little hole, we through our clothes or make them useless. It’s just a simple problem, and we can fix it in-home or take it to the tailor and the tailor will fix it with less money. Buying new clothes will cost ten times more than fixing simple defects.
25. Take Money According to the List of Shopping
It’s a wise step to make a list of items and just take the money for listed items. When you have the money for the listed and needed item, then you will don’t go buying extra and luxury things.
26. Resale Extra Home Items
It’s the greatest advantage of the internet that we can sell anything from home to the whole world. Just making a list of extra or of no use items and listing it on online stores like Etsy, eBay, Facebook, Instagram, or local groups and sell it to get some extra money.
27. Don’t Purchase Paper books
Books are the greatest source of learning and growth. But buying books is costly and keeping these books at home needs a proper space. Today is the age of the internet and all kinds of books are available in e-books, form at low cost and sometimes free from Amazon. Getting these books into your mobile, laptop, or any other device is easy to read and easy to carry with you.
28. Invest Wisely
Investing is great to multiply your income streams and earn some extra money from your money. But before jumping, try to learn some basics of investing from YouTube and then invest.
29. Meeting and Gatherings at Home
Meeting with friends, colleagues, Co-workers, or new business partners at a restaurant can cost a lot of money. But the meetings at home bring more quality, peace, and high service at a low cost. You can prepare any food and later can eat the food at home.