Want to know an easy way to get a pay raise? Heck I sure do. Well you’re in luck here as we’re going to discuss some great and I mean great money saving tips to keep your wallet fat. How fat? Real Fat!
By the way, number 16 will absolutely shock you. Stay tuned for that.
So, I’ll stop flapping my gums and get into the good stuff, before you’re tempted to hit the back button.
22 Unbelieveable Money Saving Tips To Keep Your Wallet Fat
1. Make Your Own Coffee
This may seem like a no-brainer, but think about what you spend on coffee each day by going to Dunkin Donuts or Starbucks. Say you spend anywhere from $2 to $5 a cup, spending $10 to $25 a week on coffee! And that’s only taking into consideration that you’re only buying 1 cup per day. Imagine if you bought 2? Holy smokes. As you can see you’ll save a ton of money by making your own coffee either at home or at the office.
2. Bring Your Lunch To Work
I know it might be fun to take a little breather from the office and get out to walk around and stretch your legs, but that is costly for you. Buying lunch can easily cost you $10 a day sometimes $15 or $20 depends on whether you work in a major metropolitan market or not. At a minimum you’re spending $50 a week on lunch. Lunch! This adds up to $2,400 a year. Could you use an extra $2,400 a year? Of course. Well, there it is. Stop going out to lunch and brown bag it. As a bonus it will be healthier for you too.
3. Eat At Home
Stop going out to eat all the time. Stay in, cook your own food and eat at home. Depending on the size of your family this could save you $100’s and possibly $1,000’s of dollars each year. Like I said at the beginning, do you want a raise well, this will definitely help you get there. Food is your biggest expenditure, besides your mortgage and car payment. Especially, if you go out frequently.
4. Do Not Buy Prepared Foods
Prepared foods are one of the most expensive things you can buy. For example, if you spend $20 on some fried or rotisserie chicken for one meal, then you’re getting taken to the cleaners. Why? You can buy chicken at the store and cook it yourself for maybe and I mean maybe $2 a meal. Prepared food may be convenient, but it’s really expensive and can eat up a big portion of your take home pay. So, spend your money on chicken at the grocery store and cook it yourself, rather than the prepared stuff.
5. Refinance Your Mortgage
You can save yourself thousands of dollars each year by refinancing your mortgage, especially if the interest rates are low. Like they’re today. So, you need to stop reading this awesome article and go refinance your mortgage right now! Why? Mortgage rates are about to go up no matter who becomes the next President of The United States. This will put some more money back where you need – in your wallet.
6. Buy A House Instead Of Renting
How is this supposed to save you money? Well, it will. Here’s why. When you own a home you can deduct the mortgage interest on your taxes. Also, when you first buy a home you pay more interest, so that means you will be deducting more interest, thus making your tax deduction even larger. This will help you save money. The less money you have to pay Uncle Sam the better. Don’t you agree?
7. Pay Off Your Credit Cards Every Month
Paying off your credit cards every month saves you a boat load of money in terms of interest. As you know the interest rates on credit cards are ridiculous ranging from 15% to 20%, sometimes more. If you keep balances on your credit cards without paying them off monthly, then that interest starts to add up. In some cases you’ll never pay them off. A little tip. If you cannot afford to pay for that purchase, then do not put it on a credit card. That’s where you get into trouble.
8. Renegotiate Your Cable/Internet/Phone Bill
You get those promotional flyers from your current cable/internet/phone provider where they’re offering new customers a super low introductory rate. Obviously, you’ll never be able to get your bill that low. But, you can call them up and see what can be done for you. Tell them you see all of these low prices for new subscribers, what can they do for you, a loyal customer? It’s worth your time, no matter who your carrier happens to be. I use Verizon for all of these things and I called them up to see what they can do for me and I got an additional $60 off my bill for 6 months and $30 per month after that for the next year. Try it.
9. Explore New Cell Phone Plans To Save Money
Chances are you’ve been in the same cell phone plan for at least a year, maybe longer. Cell phone plans change all the time and usually for the better. What do you mean? They give you more minutes, more data for a lower price. Certainly a lower price than what you’re currently paying. So, go to your nearest cell phone provider location and see what is available to you now. I bet you dollars to doughnuts you’ll save some money.
10. Cancel Your Gym Membership
When was the last time you hit the gym? I mean on a consistent basis? Not that one Saturday afternoon 2 months ago. So, why’re you continuing to pay for that automatically every month and not using it? You’re throwing money away. Even it it’s only $10 to $20 each month. That adds up after awhile. Not to mention if you pay in the $50 to $100 range which a lot of people do. Save yourself some dough and cancel your gym membership, like right now!
11. Stick To A Budget
If you’re committing to a budget, then you need to stick with it! No if’s and’s or but’s about it! No easier way to save money. Budgets are meant to followed, not maneuvered.
12. Go To Restaurants Where Kids Eat Free
If you have a family and want to go out to eat, but money is tight look for restaurants where kids eat free. In most areas they have these types of promotions on certain days of the week. Or if you live in or near a city with a professional sports franchise, participating restaurants offer kids eat free after that team wins. That happens in the greater Boston area when the Red Sox win kids eat free the next day at the 99 Restaurants.
13. Do Not Pay to Go To The Beach. Go To Lakes That Have Beaches
If you’re fortunate enough to live in an area that has oceans with beach access, you’re better off going to the beach at a lake. Why? You typically get charged at least $20 to access the beach on the ocean, where lakes do not charge you, thus you save money.
14. Touch-A-Truck Events
These are events where your local fire department or municipality puts on where they allow kids to climb in the driver’s seat and/or honk the horns of fire trucks, school buses, police cruisers you name it. Best part about them is that they’re free to attend. This is a great way to save money and maintain a budget.
15. Fill Up The Change Jar
Take all of your loose change lying around and throw it in a large bucket and every other month or once a quarter, go to your local bank and cash it in. You’ll be surprised by how quickly this will add up.
16. Credit Card Cash Rewards
Yes, I told you this one will stun you. Most credit cards offer a cash back bonus program. Some of them up to $500 in a calendar year. This is free money you can take advantage of by doing nothing really. Well, you need to use your credit cards to make purchases, but you get paid for doing so with the cash back program. This will definitely keep your wallet fat, especially if you combine this tip with the others we’ve discussed so far.
17. Buy A Pre-Owned Car
Buying a new car and paying through the nose up front and on a monthly basis is a waste of money. A car depreciates the second you drive it off the lot. Save yourself money upfront, and down the road by buying a pre-owned car. Also, by buying a pre-owned car your car insurance will be less.
18. Use Coupons When Able
This sounds like common sense, but hardly anyone uses them. So, use coupons when shopping for groceries or any other items you need – clothes, shoes, etc. Macy’s does a real good job of sending out coupons that can save you a bunch of money. Don’t be ashamed of using coupons. All it means is that you’re smart and want to hang on to more of your dough!
19. Take Advantage Of Sales
No matter what you’re in the market to buy – clothes, shoes, patio furniture, you name it, it makes all the sense in the world to take advantage of sales at participating retailers for those products. Yet another fantastic way to save money.
20. Utilize No Interest, No Payment Options
This is very popular among the furniture industry and your home improvement box stores. It’s smart business to take advantage of this when you can. It not only saves you money, but keeps your cash flow going steady. Now you must remember that you’ll need to make sure you can afford the monthly payments after they kick in the 12 to 18 months after your purchase.
21. Don’t Buy The Latest And Greatest In Technology
What do you mean? When the newest version of the IPhone comes out, don’t go right out and buy it. Why? That is when it’s the most expensive. Instead wait a few months and the price will drop substantially. This goes for any piece of technology, not just cell phones. You get the point.
22. Free Energy Audit
If you’re contacted by one of these services that will do a free energy audit for your home do it. Why? They may be able to make recommendations and minor repairs that are inexpensive, that will save you money on your energy bills over time. Anytime you can save money on energy is a win-win in my book. What do you think?
That’ll wrap it up for 22 money saving tips to keep your wallet fat.
Do you have any to add? Leave them in the comments.
Any obvious ones that were missed?
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