18 Effective Money Saving Tips to Simplify Your Life

In a 2015 survey by the American Psychological Association, 64 percent of Americans feel that money causes stress.

Don’t let money stress you out! You can make a few simple changes to simplify your life.

Learning how to manage different areas of your life can be challenging, especially finances.

Read this guide with tips to simplify your life with these simple, yet effective, money saving tips.

1. Declutter to Simplify Your Life

It’s probably safe to say you have some extra stuff laying around you don’t use. Time to get rid of these things! Why have them collecting dust when you can make money on them?

Don’t try to do it all at once! Trying to declutter can take awhile – you don’t want to feel overwhelmed. Choose one area a day like clean out a kitchen drawer today and remove a pile of papers from the counter tomorrow.

If you have enough stuff, consider selling them on eBay, Craigslist, or Buy Sell Trade sites. You can even have a garage sale. You donate all other items and write them off on your taxes.

2. Automate Bills

Save time and never miss a payment by setting up automatic bill pay. Be sure you always have enough money in your account.

Have billing alerts emailed to you, so you can always double check the balance.

You can save money on late fees and postage.

3. Don’t Buy Drinks

Take water bottles with you. You can also make your own coffee at home.

It’s amazing how much money you can save – plus you will create less waste.

4. Adjust Your Thermostat

A couple degrees can make a big difference. Get a programmable thermostat to adjust temperatures at night or when you aren’t home.

Try bumping your temperature up two degrees in the summer, and down two degrees in the winter.

5. Downsize

This one may be more difficult for some. Back in the 1950s, the average home was 1,000 square feet. Now it is around 2,600 square feet.

Why are our houses getting bigger? These bigger houses mean more expensive mortgages and utility bills.

A smaller home or apartment means a smaller rent or mortgage. Imagine what you could with the extra money.

6. Set Limits

This takes discipline. Set simple goals such as “I will only buy $100 worth of groceries this week,” or “I will not buy any takeout this week.”

Setting simple goals can make your life easier. Determine weekly budgets for all categories such as entertainment, food, and others.

7. Pay Cash

Setting up a cash system will help you determine where your money goes. You can visibly see how much you have left and plan accordingly.

If you have an entertainment budget, you can make it a game if you only have $4 left. For example, go to Redbox and buy microwave popcorn.

8. Consolidate All Accounts

You don’t really need more than one credit card, savings, or checking accounts. The same is true for retirement accounts.

9. Cut Out Unused Services

You probably pay for subscriptions and services you don’t use. Eliminate these services and remove another payment.

How often do you go to the gym? Do you watch all the channels on your cable bill? Do you need cable?

Think of things you can go without. Try it for a month and see how it goes.

10. Limit TV and Internet

You need information, but there is such a thing of too much information. You are reading or hearing about all these things you need or should do.

Limit the amount of advertising and “advice” you get through the media. It will help you from getting things you really don’t need. All this noise is causing you mental clutter!

11. Simplify Your Clothing

Go in your closet. How many things have you not worn in the past year? Are there items that don’t fit?

Get rid of them! You should only have the items your regularly wear in your closet, except for a few dress-up items you need occasionally.

Develop a mix and match wardrobe. Buy fewer items you can wear over and over with different accessories or outer pieces like a jacket or sweater.

12. Limit Running Errands

Don’t run errands every day. Go out maybe once or twice a week.

Take time at the beginning of the week to get organized. Make a list of where you need to go.

If you go out less, you will use less gas and shop less.

13. Meal Planning

Take time to plan your weekly meals. You can use the weekly sale ads to give you some ideas.

Having a plan in place will help prevent you from indulging in takeout. You can always double your meal, and freeze one portion to use later.

Use your crockpot! It can be a real life saver.

14. When You Buy Something, Get Rid of Something

Take measures to help your clutter. For example, when you buy a new shirt, get rid of a shirt.

This will help you control spending and make you think before you buy.

15. Write Down Your Budget

Write down your income and all your expenses. When you spend money, write it down.

It will help you with impulse shopping when you see how much you have already spent.

16. Easier Shopping

Take advantage of convenient shopping services, such as online grocery shopping and Amazon Prime.

When you don’t go in a store, you can prevent impulse purchases. Ordering online also saves you time.

Several grocery stores offer online shopping that you can either go pick up or have delivered directly to your home.

17. Limit Shopping Options

Choose only a couple stores for shopping. You can save money on gas and driving around. If something is $1 less at a store across town, you are not really saving when you factor in gas.

Choose stores with reward programs to help you save money and earn perks. For example, cut down prescription costs by using the Refillwise program. Read more now.

18. Learn to Say NO

It’s okay to say no. You don’t owe anyone an explanation.

This will help protect your time and wallet. If you really don’t want to do something, don’t! Your friends will still be there.

Want to Simplify Your Business?

Now that you have read how to simplify your life. Would you like to simplify your business?

Consider content marketing. ClayWallet has professional writers to create content that works. This team will work with you to form a results-driven strategy, tailored specifically for your business.

How to Overcome Spending Guilt and Start Enjoying Your Money

Do you ever feel guilty about spending money? Maybe you feel like you should be saving more, or that you\’re not being responsible with your finances. If so, you\’re not alone. Many people feel guilty about spending money, even if they can afford it.

Spending guilt can have a negative impact on your financial health and your mental health. It can lead to overspending, impulse buying, and financial problems. It can also cause stress, anxiety, and depression.

The good news is that there are things you can do to overcome spending guilt and start enjoying your money. In this article, we\’ll discuss the causes of spending guilt, how to overcome it, and some tips for spending your money guilt-free.

What Is Spending Guilt?

Spending guilt is the feeling of discomfort or remorse that you experience after spending money. It can be caused by a number of factors, such as:

  • Feeling like you\’re not being financially responsible
  • Worrying about not having enough money in the future
  • Comparing yourself to others who seem to be spending more than you
  • Feeling like you\’re not worthy of spending money on yourself

Why Do People Feel Guilty about Spending Money?

There are a number of reasons why people feel guilty about spending money. Some of the most common reasons include:

  • Growing up in a household where money was scarce. If you grew up in a household where money was tight, you may have learned to be frugal and avoid spending money whenever possible. This can lead to feelings of guilt when you do spend money, even if it\’s on something you need or want.
  • Fear of debt. If you\’re afraid of debt, you may feel guilty about spending money because you\’re worried about not being able to pay it back. This fear can be even stronger if you\’ve had a negative experience with debt in the past.
  • Not being able to afford your basic needs. If you\’re struggling to make ends meet, you may feel guilty about spending money on anything that\’s not essential. This is because you may worry that you\’re not putting enough money away for the things you really need, like food, shelter, and clothing.
  • Not being a good steward of your money. If you feel like you\’re not being a good steward of your money, you may feel guilty about spending it. This could be because you\’re not saving enough, or because you\’re spending money on things that you don\’t really need.

The Different Types of Spending Guilt

There are two main types of spending guilt:

  • Morality-based guilt. This type of guilt is based on your beliefs about what is right and wrong. For example, you might feel guilty about spending money on something that you consider to be a luxury, or on something that you believe is harmful to others.
  • Emotional guilt. This type of guilt is based on your emotions, such as fear, anxiety, or shame. For example, you might feel guilty about spending money because you\’re worried about not having enough left over, or because you\’re afraid of what others might think of you.

How to Overcome Spending Guilt

If you\’re struggling with spending guilt, there are a few things you can do to overcome it:

1. Identify the source of your guilt. The first step to overcoming spending guilt is to identify the source of your guilt. Once you know what\’s causing you to feel guilty, you can start to address it.

2. Set financial goals. Once you know why you feel guilty about spending money, you can start to set financial goals. This will help you to focus on your spending and make sure that you\’re not overspending.

3. Create a budget. A budget is a great way to track your spending and make sure that you\’re not overspending. It can also help you to set aside money for your financial goals.

4. Track your spending. Tracking your spending can help you to see where your money is going and identify areas where you can cut back. There are many different ways to track your spending, such as using a budgeting app or simply writing down your expenses each day.

5. Make a list of your priorities. When you\’re making a purchase, it\’s important to think about your priorities. Is this something that you really need or want? Can you afford it? Is it worth the money?

6. Only buy things you need or love. It\’s okay to spend money on things that you need, but it\’s important to avoid impulse buying and only buy things that you really love and will use.

7. Wait 24 hours before making a big purchase. If you\’re thinking about making a big purchase, it\’s a good idea to wait 24 hours before you actually buy it. This will give you time to think about the purchase and make sure that you\’re not making an impulse decision.

8. Don\’t compare yourself to others. It\’s easy to compare ourselves to others, but this can lead to feelings of guilt and inadequacy. Remember that everyone\’s financial situation is different, so don\’t compare yourself to others.

9. Reward yourself for saving money. When you save money, reward yourself! This will help you to stay motivated and make saving money a habit.

How Can Spending Guilt Affect Your Financial Health?

Spending guilt can have a negative impact on your financial health in a number of ways. For example, it can lead to:

  • Overspending: If you feel guilty about spending money, you may be more likely to overspend in order to avoid feeling guilty. This can lead to debt and financial problems.
  • Underspending: On the other hand, you may also underspend in order to avoid feeling guilty. This can prevent you from enjoying your life and reaching your financial goals.
  • Procrastination: If you feel guilty about spending money, you may procrastinate on making purchases. This can lead to missed opportunities and higher prices.

Wrapping Up

Feeling guilty about spending money is a common experience, but it doesn\’t have to hold you back from enjoying your life. By following the tips in this article, you can learn to overcome spending guilt and use your money to create the life you want.

Frequently Asked Questions

1. What is the difference between spending guilt and buyer\’s remorse?

Spending guilt is the feeling of remorse or regret that you experience after spending money. Buyer\’s remorse is the feeling of regret that you experience after making a purchase, regardless of whether or not you spent money.

2. How much money should I save each month?

The amount of money you should save each month depends on your financial situation and your financial goals. A good rule of thumb is to save 20% of your income.

3. How can I track my spending?

There are many different ways to track your spending. You can use a budgeting app, write down your expenses each day, or use a spreadsheet.

5. What are some ways to make my budget more realistic?

To make your budget more realistic, make sure that you include all of your income and expenses. You should also be realistic about your spending habits and make sure that your budget is something that you can stick to.

6. How can I avoid impulse buying?

To avoid impulse buying, make sure that you have a plan before you go shopping. Only buy things that you need or love, and wait 24 hours before you make a big purchase.

7. How can I stop comparing myself to others?

To stop comparing yourself to others, focus on your own goals and accomplishments. Remember that everyone\’s financial situation is different, so don\’t compare yourself to others.

8. How can I reward myself for saving money?

There are many different ways to reward yourself for saving money. You can buy yourself something small, treat yourself to a meal out, or take a day trip.

I hope this article has been helpful. If you have any further questions, please feel free to ask in the comments section.

The Best Savings Accounts for Students in 2023

Best Savings Accounts for Students: A savings account is a type of bank account that allows you to deposit money and earn interest on it. Interest is the amount of money that the bank pays you for letting them use your money. The interest rate is the percentage of your balance that the bank pays you in interest each year.

It is important for students to have a savings account for a number of reasons. First, it can help you save for your future. You can use your savings to pay for college, rent, or other expenses after you graduate. Second, a savings account can help you build your credit history.

This is important because it can help you get approved for loans and other forms of credit in the future. Third, a savings account can help you protect your money from unexpected expenses. If you have an emergency fund in your savings account, you will be less likely to have to use a credit card or take out a loan when something unexpected happens.

Factors to Consider When Choosing a Savings Account for Students

There are a few factors to consider when choosing a savings account for students. These include:

  • Interest rate: The interest rate is the most important factor to consider when choosing a savings account. You want to choose an account with the highest interest rate so that you can earn the most money on your savings.
  • Minimum balance requirements: Some savings accounts have minimum balance requirements. This means that you must keep a certain amount of money in the account in order to avoid fees.
  • Monthly fees: Some savings accounts have monthly fees. These fees can add up over time, so it is important to choose an account with no monthly fees.
  • ATM fees: Some savings accounts charge ATM fees when you withdraw money from an ATM that is not affiliated with the bank. These fees can be expensive, so it is important to choose an account with low or no ATM fees.
  • Online banking features: Most savings accounts offer online banking features, such as the ability to view your balance, transfer money, and set up automatic transfers. It is important to choose an account with online banking features that you are comfortable using.
  • Customer service: If you ever have a problem with your savings account, you will need to be able to get in touch with customer service. It is important to choose an account with customer service that is responsive and helpful.

Best Savings Accounts for Students

Here are some of the best savings accounts for students:

1. CIT Bank Savings Connect

CIT Bank Savings Connect is a high-yield savings account that offers an interest rate of up to 0.90% APY. It has no minimum balance requirement and no monthly fees. You can make unlimited deposits and withdrawals online or through the CIT Bank mobile app.

Pros:

  • High interest rate
  • No minimum balance requirement
  • No monthly fees
  • Unlimited deposits and withdrawals
  • Easy to open and manage online

Cons:

  • No ATM network
  • Customer service can be slow

2. HSBC Premier High Interest Account

The HSBC Premier High Interest Account is a high-yield savings account that offers an interest rate of up to 0.85% APY. It requires a minimum balance of $25,000 to earn the highest interest rate. There are no monthly fees, but there is a $3 monthly fee for ATM withdrawals not made at HSBC ATMs.

Pros:

  • High interest rate
  • No monthly fees for online banking
  • Free ATM withdrawals at HSBC ATMs worldwide
  • Access to HSBC\’s global banking network

Cons:

  • High minimum balance requirement
  • ATM fees for withdrawals not made at HSBC ATMs
  • Customer service can be slow

3. Synchrony High Yield Savings

The Synchrony High Yield Savings is a high-yield savings account that offers an interest rate of up to 0.70% APY. It has no minimum balance requirement and no monthly fees. You can make unlimited deposits and withdrawals online or through the Synchrony Bank mobile app.

Pros:

  • High interest rate
  • No minimum balance requirement
  • No monthly fees
  • Unlimited deposits and withdrawals
  • Easy to open and manage online

Cons:

  • No ATM network
  • Customer service can be slow

4. TIAA Bank Yield Pledge® Online Savings

The TIAA Bank Yield Pledge® Online Savings is a high-yield savings account that offers an interest rate of up to 0.80% APY. It has no minimum balance requirement and no monthly fees. You can make unlimited deposits and withdrawals online or through the TIAA Bank mobile app.

Pros:

  • High interest rate
  • No minimum balance requirement
  • No monthly fees
  • Unlimited deposits and withdrawals
  • Easy to open and manage online
  • FDIC insured

Cons:

  • No ATM network
  • Customer service can be slow

5. Marcus by Goldman Sachs Online Savings

Marcus by Goldman Sachs Online Savings is a high-yield savings account that offers an interest rate of up to 0.85% APY. It has no minimum balance requirement and no monthly fees. You can make unlimited deposits and withdrawals online or through the Marcus by Goldman Sachs mobile app.

Pros:

  • High interest rate
  • No minimum balance requirement
  • No monthly fees
  • Unlimited deposits and withdrawals
  • Easy to open and manage online
  • FDIC insured

Cons:

  • No ATM network
  • Customer service can be slow

Which Is The Best Savings Account For Students?

The best savings account for students will depend on their individual needs and preferences. Some factors to consider include the interest rate, minimum balance requirement, monthly fees, ATM fees, online banking features, and customer service.

If you are looking for the highest interest rate, then CIT Bank Savings Connect or Synchrony High Yield Savings are good options. However, they both have no ATM network, so you will need to pay ATM fees if you withdraw cash often.

If you are looking for a savings account with no minimum balance requirement and no monthly fees, then TIAA Bank Yield Pledge® Online Savings or Marcus by Goldman Sachs Online Savings are good options. However, their interest rates are not as high as some of the other options.

Ultimately, the best way to choose the best savings account for students is to compare your options and choose the one that best meets your needs.

How To Open A Savings Account

Opening a savings account is a great way to start saving money for your future goals. Here are the steps involved:

  1. Choose a bank. There are many different banks that offer savings accounts for students. Do some research to find one that has the features you\’re looking for, such as a high interest rate, no monthly fees, and ATM access.
  2. Gather the necessary documents. You\’ll need to provide some basic identification information, such as your Social Security number, driver\’s license, and proof of address. You may also need to provide a student ID card.
  3. Fill out an application. The application will ask for your personal information, such as your name, address, and date of birth. It will also ask about your income and expenses.
  4. Make a deposit. You\’ll need to make a minimum deposit to open the account. The minimum deposit amount varies from bank to bank.
  5. Sign the account agreement. Once you\’ve met all the requirements, you\’ll need to sign the account agreement. This document will outline the terms and conditions of the account, such as the interest rate, fees, and withdrawal limits.

Tips for Saving Money as a Student

Here are some tips for saving money as a student:

  1. Set a goal. What do you want to save for? A car? A down payment on a house? A study abroad trip? Having a specific goal in mind will help you stay motivated to save.
  2. Make a budget. Track your income and expenses so you can see where your money is going. This will help you identify areas where you can cut back.
  3. Automate your savings. Set up an automatic transfer from your checking account to your savings account on a regular basis, such as every payday. This way, you\’ll never even see the money and you won\’t be tempted to spend it.
  4. Avoid impulse spending. When you\’re out shopping, take your time and think about whether you really need the item before you buy it. If you can wait a day or two, you may change your mind.
  5. Get a part-time job. If you can, get a part-time job to earn extra money. This will help you reach your savings goals faster.

Conclusion

Saving money is an important financial habit to start early, and students are no exception. A savings account can help you reach your financial goals, such as paying for college, buying a car, or starting a business.

When choosing a savings account for students, there are a few factors to consider, such as the interest rate, minimum balance requirements, and fees. You should also look for an account that offers online banking features and good customer service.

I hope this article has helped you learn more about the best savings accounts for students. By comparing interest rates, fees, and features, you can find the best savings account to help you reach your financial goals.

FAQs about Best Savings Account for Students

1. What is the best savings account for students with no credit?

There are a few savings accounts that are designed for students with no credit, such as the Discover Student Checking Account and the Ally Bank Student Checking Account. These accounts typically have no minimum balance requirements and no monthly fees.

2. What is the best savings account for students with a low balance?

There are also a few savings accounts that are designed for students with a low balance, such as the CIT Bank Savings Connect and the Marcus by Goldman Sachs Online Savings. These accounts typically have low minimum balance requirements and no monthly fees.

3. What is the best savings account for students who travel frequently?

If you travel frequently, you\’ll want to choose a savings account that doesn\’t charge ATM fees. Some good options include the Schwab Bank High Yield Investor Checking Account and the Fidelity Cash Management Account.

4. What is the best savings account for students who want to earn the highest interest rate?

The highest interest rates are typically offered by online banks. Some good options include the CIT Bank Savings Connect, the Marcus by Goldman Sachs Online Savings, and the Ally Bank Online Savings.

Start saving today! Even if you can only save a small amount each month, it will add up over time. And the sooner you start saving, the more time your money has to grow. So don\’t wait, start saving today!

11 Tried and Tested Ways To Save Money This Year

It doesn\’t take a lot of effort to save money. Here are 11 proven ways to cut costs this year and put cash back into your budget to reach your goals.

Saving money is a lot like going on a diet. You know it’ll make you feel better in the long run, but that doesn’t make it so easy to put off.

Similarly, whether you want to save money or lose weight, the allure of instant gratification is hard to resist. Those unhealthy meals and sugary snacks can prove too tempting – as can splurging on unnecessary purchases.

Thankfully, just as making small dietary changes can have a big impact on your waistline, slight shifts to your spending habits can improve your financial position before you know it.

Real Ways to Save Money This Year

Today, we’re going through 11 tried and tested saving tips that deliver the desired results with minimal fuss. Let’s dive in.

1. Make Things Automatic

Transferring money to your savings account manually each month is a recipe for trouble. You may forget to do it, for example. Or, if you overspend by accident and finances start feeling a little too tight, you might “forget.”

Ultimately, the extra effort increases the likelihood that you won’t hit your savings goals (more on these later).

That’s why it makes sense to set up automatic transfers. Take that tack, and you’ll save money on autopilot. The bank will move funds from your checking account to your savings account without you having to think about it.

An online bank like CIT Bank is a terrific option to do this. They have super competitive rates and no hidden fees.

2. Start Using Cash

With digital wallets, credit cards, and debit cards at your disposal, spending money has never been easier. Furthermore, those credit cards let you spend cash you don’t have! Unfortunately, this convenient access to capital is a double-edged sword when trying to save.

That’s why some aspiring savers revert to using cash. They’ll withdraw a lump sum at the beginning of each month (or week) and take from it whenever they have to purchase something. Watching the money leave your wallet is a simple incentive to live more frugally!

3. Make Online Shopping Harder

For similar reasons, another effective way to save money is to purposefully make online shopping more difficult. Think about the “buy now” button on Amazon, for example.

If your bank details are already saved, you’re literally a click away from purchasing something that could be delivered the same day! It puts instant gratification at your fingertips, which is a recipe for impulse shopping.

Combat that financial risk by making the checkout process more arduous. This can be as simple as deleting your bank details and shipping address from your favorite online retailers.

Having to input them again manually next time could be enough extra effort to dissuade you from hitting “buy.”

4. Set a “Cooling Off” Period Before Purchases

If the time it takes to type in your details wouldn’t stop you from making impulse purchases, you could also enforce a longer “cooling off” period. In this case, you’d add the item to your shopping cart, then force yourself to step away for a set period of time.

Whether it’s thirty minutes or thirty days, having that time to think will help you realize if you really need the item or not.

An added benefit of this approach is the potential to receive coupon codes from the retailer when they realize you abandoned the cart. Because they want you to complete the purchase, they may offer a discount to compel you to do so.

5. Cancel Pointless Subscriptions

When did you last take full advantage of that expensive gym membership, watch a Netflix series, or listen to something on Spotify? If it’s been a while, then a quick way to save money would be to cancel those subscriptions.

This single step could free up a surprising amount of capital you can redirect into a savings account. Indeed, CNBC found that over 50% of people “underestimate their monthly subscription bills by at least $100.”

Furthermore, 42% forget they pay for subscriptions they never use.

Here are a few others you may be able to cancel:

  • App upgrades, such as meditation or finance apps
  • Cloud storage
  • Meal kit boxes/plans
  • Online newspapers and magazines
  • “Premium” upgrades, such as Fitbit Premium
  • Cable packages
  • Online gaming services, such as Xbox Live

A service like Rocket Money can help you identify such subscriptions you no longer use that are fit to cancel.

6. Set Savings Goals

One of the best ways to stay motivated and save money consistently over time is to set realistic savings goals. Think about what you’re trying to achieve.

What positive end result are you willing to make financial sacrifices for each month?

For example, maybe you want to pay off your credit card debt, put down a deposit on a house, set yourself up for retirement, or go on a big vacation with your family.

Whatever it is, keeping that goal in mind should guide your spending habits and compel you to maintain a more frugal lifestyle.

Tip: The most effective goals follow the SMART framework (specific, measurable, achievable, relevant, and time-bound). So instead of “saving for retirement,” you could aim to “save $10,000 in an individual retirement account in 18 months.”

7. Track Your Spending

Tracking your expenditure is like tracking the calories you consume. It’s far from scintillating! Yet it provides the data you need to hit your goals.

By subtracting what you’ve spent from what you’ve earned, you see what’s left to save. You can then compare that figure to your goals to check your progress. If you’re not, you can adjust your spending accordingly next month.

Consider the previous goal to save $10,000 in 18 months, which equates to a monthly saving of around $556. Now imagine you earned $2,000 this month and, after tracking your expenses, realize you spent $1,650.

With only $350 left to save, you could spend a maximum of $1,238 next month ($2,000 – $556 – ($556 – $350)) to stay on track.

8. Tackle High-Interest Debt

Debt can hamstring your efforts to save money – especially when the interest rates are high. After all, you’re forced to repay the lender funds that could otherwise go into a savings account.

Throw late payment fees or penalties into the mix, and you can create a vicious spiral that hemorrhages money from your account.

If you’re in this predicament, try paying off those high-interest debts using the avalanche method first. Over time, you’ll have to spend less and less on pesky debt repayments, freeing up cash you can put into savings.

9. Reduce Your Bills

Bills are another major money drain that can make saving seem impossible. Many people have nothing left after their electricity, mortgage, car, and phone payments. Thankfully, there are some effective ways to reduce these unavoidable expenses.

Let’s start with electricity. Tracking your usage with a smart meter, investing in energy-efficient appliances and lighting, improving the home’s insulation, and limiting your heating/cooling use can all lead to significant savings.

Mortgages are harder to tackle, but refinancing may be an option to put hundreds of dollars back in your pocket each month, thanks to a lower interest rate. And why not downgrade your car and mobile to access cheaper repayment plans?

10. Leverage Annual Sales

Some purchases are both significant and essential. But do you really need them now? Or could they wait until the next annual sales, when you can pick up both splurges and necessities for the best prices?

Time things correctly, and you can save hundreds (or thousands) of dollars to put into a savings account. According to U.S. News, the major sales events to look forward to include the following:

  • New Year’s Day
  • Martin Luther King Jr. Day
  • Presidents Day
  • St. Patrick’s Day
  • Easter
  • Mother’s Day
  • Memorial Day
  • Father’s Day
  • Fourth of July
  • Amazon Prime Day
  • Labor Day
  • Black Friday and Cyber Monday
  • Super Saturday
  • New Year’s Eve

11. Be Strategic With Groceries

On the subject of shopping, another significant expense in most households is the weekly trip to the grocery store. And it’s been even worse recently, with groceries becoming 11.3% more expensive between January 2022 and 2023.

Consider buying the cheaper store-brand and generic products rather than name-brand ones to keep costs down and recoup some potential savings.

Better still, avoid going to the store unprepared. Decide what meals you’ll cook in advance, check what ingredients you already have in the fridge or pantry, and then write a list of what you need.

This should stop you from making impulse purchases and ensure you only buy items you’ll use. Sign up for the store’s loyalty program as well, and your grocery bill should soon start to fall!

Try These Ways To Save Money

Like going on a diet, most of us could benefit from reducing our expenses and saving more money each month. Unfortunately, postponing what you want now for the promise of future financial gain can feel off-putting.

Also, when financial times are tough, knowing how to save money in the first place can seem like a mystery. If you know the struggle, we hope these ideas will help you get started.

This article originally appeared on Wealth of Geeks.

What’s the first thing you look to cut when trying to save money?

About the author: Danny Newman is a digital nomad from the UK who has been writing and travelling his way around the world for the last six years. Alongside his work as a freelance writer, Danny’s the founder of travel and lifestyle website, What’s Danny Doing, as well as the lifestyle and entertainment site, Wise Healthy n Wealthy.