We all need life-hacks about how we spend and save money as we are often overloaded with massive marketing campaigns to ask us to spend more money in unnecessary things.
To ensure your summer plan doesn’t go off your regular spending, there are five ways to save your wallet:
- Set up a weekly budget
Making a financial plan is a hard task for most of the people. But if you know that you have a limited income to support your living, then you should record what and how you spend money regularly.
From monthly house rent to minor expenses like getting a drink on Friday nights, you should make sure every item including housing, groceries, transport, leisure and social events is included in your budget.
By knowing how much you spend in details, you will then have a glimpse of how much you spend on unnecessary items such as movie tickets, clubbing and even monthly subscription of Netflix.
- Bring your lunch box
It sounds old-fashioned like a typical high school student, but this is how you can save money from paying for a restaurant’s service, cosy environment and branding fees.
While it’s no doubt that eating out is a lifestyle and sometimes you can’t simply cook like a chef by yourself. But if you bring a lunch box, then for every penny you have spent on food, you feed on your own stomach.
However, when you have a meal in a restaurant, you are also feeding different people–a waiter’s salary, the property owner’s monthly rent, and the restaurant owner’s annual profit.
After all, unless you are a philanthropist, there is no need for you to “finance” the others this way at the expense of your grocery budget.
- Look for discounts
Needless to say, there are plenty of online platforms that collect latest discounts on different items for food, clothing, and even transport.
Finding a discount means you need to compare the price of different shops. It is not hard to find “discounts” while you are shopping, but it somehow turns out to be a regular price which pretends to be the discounted price. Strategically, you should keep in mind about the usual price in order to know what the “real discount” is.
Being properly informed about the price is another thing. Before you go out for groceries, you should make sure whether this is a good timing for it–some items are seasonal. To make an effective research, you can subscribe websites which provides unbiased information about the latest prices in different places.
- Find free events for socialising
Everything comes with a price. If you want to save money from paying for social events, then look up different platforms for free events.
Some popular social media platforms provide information about events that happen around you with precise time and date. Next time, instead of meeting up in a pub, it’s not a bad idea to meet up in some free events.
- Walk/Cycle instead of taking public transports
Taking public transports does cost you a fortune, if money is the only thing you concern. If you have a bike, you can make use of it for your work, study, or travel. Otherwise, you can have a good walk every day to save your monthly subscription fee for gym.
People tend to spend money based on feelings nowadays. If you really want to spend and save money effectively, then you should be clear about what you need and what you want–spending money only on necessary items.