Feeling financially squeezed? You’re not alone. According to a study by Thriving Wallet, a new partnership between Thrive Global and Discover, most Americans (90%) say that financial considerations contribute to their stress levels.
However, before you swear off lattes forever, let me tell you some good news. The following 25 tips will help you save $25. Even better, most will take less time than reading this article!
Groceries & Dining
1. Plan your meals.
Avoiding impulse buys is important if you want to maintain a healthy grocery budget. Why? A wing-it approach at the store can result in overspending when you do not have a plan.
If you plan ahead before you go shopping, you can stick to your budget and avoid impulse purchases.
2. Check the circulars.
By scanning circulars before visiting different grocery stores, you can find out what are the best deals and discounts. As a result, you can save a lot on your grocery bill by comparing prices and planning accordingly.
Furthermore, circulars offer limited-time promotions and special offers, allowing you to maximize your savings.
3. Brown bag it.
You don’t have to pack lunch every day. If you pack lunch two or three times a week and skip expensive restaurant lunches, your savings will quickly accumulate.
For lunch, you can choose salads with lean protein, such as grilled chicken or chickpeas, veggie wraps with hummus and whole grain sandwiches with turkey and avocado. You can also have homemade soups full of vegetables and beans. In addition to saving money, these options are also nutritious and satisfying.
4. Skip the extras.
If you do go out to eat, avoid adding on extras. For example, don’t add fries for $2 more if you get a sandwich. You can just stick with the chips that come with the meal.
Also, drink water instead of sugary drinks to stay hydrated for free. In addition to saving you money, drinking water instead of sugary drinks benefits your overall health. As a source of hydration, water plays a key role in maintaining a healthy weight and supporting proper bodily functions.
5. Freeze any leftovers.
Refining leftovers for future meals reduces food waste and saves time and money. Also, when you’re too busy or tired to cook, you can avoid ordering takeout or buying convenience foods by storing pre-cooked meals in the freezer.
Moreover, freezing leftovers helps you stretch your budget and maximize your groceries.
Entertainment
6. Free events.
Find out if there are any free concerts, movies, or museum days in your area.
Don’t know where to start? You can find free events in your area on several websites and resources. Among the most popular options are Eventbrite, Meetup, local community calendars, and city websites listing local events. For updates on free events, you can follow local venues, museums, and organizations on social media.
7. Library love.
Borrowing books, audiobooks, and movies from the library not only saves you money, but you can also explore a variety of genres and topics without committing to purchase. At no cost, it allows you to discover new authors, gain insight into different perspectives, and broaden your knowledge and entertainment options. Moreover, libraries generally have a vast collection of interesting materials, so you’ll never run out.
Furthermore, your local library hosts events such as book readings and instruction classes.
8. Game nights.
Instead of expensive outings, game nights and potlucks offer a more affordable and intimate alternative. In addition to creating lasting memories, these gatherings encourage creativity, problem-solving, and socialization.
Moreover, potlucks allow everyone to showcase their culinary talents and introduce new flavors.
9. Binge-watch at home.
Rather than a movie theater, cuddle up for a night of movies at home. At home, movies can be watched in a more comfortable and personalized atmosphere. Whenever you need a break, you can pause, control the volume, and pick any movie you want.
You can also save money on expensive tickets and snacks and watch the movie in complete privacy without being disturbed by other people.
10. Free streaming trials.
List movies or TV shows you want to watch during free streaming trials to make the most of your limited time. However, set reminders to cancel the subscription before the trial period ends to prevent unexpected charges.
Also, to take advantage of a variety of content options, explore different streaming platforms and their free trials.
Shopping & Services
11. Unsubscribe from temptations.
Unsubscribe from marketing emails that trigger impulsive spending. An impulsive shopping habit triggered by marketing emails can lead to debt and financial strain. In addition, purchases made without careful consideration or genuine need can contribute to clutter and a sense of dissatisfaction.
The fastest way to unsubscribe from marketing emails is to use an email unsubscribe app. Clean Email, for example, offers an efficient yet simple way to declutter your inbox. Instead of going through emails one by one, the tool uses a high-end algorithm to intelligently bundle related emails so they can be organized, cleaned, and unsubscribed in bulk.
12. Comparison shop online.
If you want to find the best deal, compare prices online before you buy. Price comparison websites, like Google Shopping, Shopzilla, or Honey, allow you to compare prices from various retailers, ensuring the best deal. As a result, you will save money and time when shopping online.
In addition, price comparison websites usually provide product reviews and ratings, which can help users make informed choices and avoid potentially poor purchases.
13. Cancel unused subscriptions.
By canceling unused subscriptions, you will declutter your financial life and save money. You can then redirect your money to things that matter to you, such as savings, investments, and experiences, by eliminating subscriptions you don’t use regularly. As well as helping you prioritize your finances, canceling unused subscriptions can also help you better understand your spending habits.
The easiest way to do this is to use a subscription tracking tool like Rocket Money or OneMain Trim to find and cancel subscriptions you no longer need. These tools may, however, require limited access to your accounts. Be sure to read their privacy policies.
14. Haggle politely.
It never hurts to try to negotiate a lower price—especially for used items. When purchasing furniture at a local flea market or negotiating the price of a car with a private seller, for example, haggling can help you secure a better deal. By showing respect for the item and pointing out any flaws or imperfections, you may be able to negotiate a lower price.
15. Borrow instead of buy.
Is there something you need but will only use once? Instead of buying it, borrow it.
Take, for example, a project that requires a power drill. You could borrow one from a friend or neighbor rather than buy a brand-new drill that you may only use once. As a result, you save time and money while still completing the task.
Home & Electronics
16. Get a quote on homeowners insurance and refinance your mortgage.
When choosing an insurance company to cover your home, compare the rates of several companies. If you are renewing your existing homeowner’s insurance policy, make sure you take into account your expenses. You can easily find the best insurance quotes by using QuoteWizard.
Additionally, you may be able to lower your mortgage interest rate by refinancing. Refinancing your mortgage can lower your monthly payment, reduce your interest rate, and even shorten your loan term. This can result in you saving thousands of dollars over the life of the loan.
17. Unplug the energy vampires.
Even if they aren’t being used, all of the following consume energy when plugged in;
- Television
- Computer
- Printer
- Phone charger
- Blender
- Microwave
- Toaster
- Coffee maker
Why? Energy is still being drawn from the wall by appliances. As a result of this so-called vampire energy, you may be losing approximately one month’s electricity bill each year.
By plugging these items into a power strip, you can quickly turn everything off while saving money around your house.
18. Lower your heating and cooling bills.
Installing a programmable thermostat like Nest can automate your home’s temperature, saving you money and energy. You’ll save around $200 per year on heating and cooling.
Try layering up with blankets and drinking hot beverages during the winter for even more savings. In the summer, place ice on pulse points to cool you down.
19. Turn down your water heater’s temperature.
How low? According to the Department of Energy, it should be about 120 degrees. For every 10 degrees of temperature reduction, you can save between 3% and 5% on your water heating costs.
20. Use half as much laundry detergent.
Today, most laundry detergents sold on the market are highly concentrated. As such, use the smallest amount recommended.
Making laundry detergent is relatively cheap and easy if you prefer natural products. To make laundry detergent at home, you can gather ingredients such as castile soap, washing soda, and borax. The ingredients should be mixed together and stored in airtight containers. For clean, fresh-smelling clothes, simply use a small amount of this homemade detergent.
Saving & Earning
21. Round-up savings.
With a round-up app like Acorns, you can link your bank account and track your transactions. Whenever you make a purchase, the app rounds up the amount to the nearest dollar and transfers the difference to your savings account. By using this automated process, you can save money effortlessly without even realizing it.
22. Use autopay
When you enroll in autopay, you can sometimes get a discount. Many companies offer Autopay discounts, including mobile phone companies, internet providers, and insurance companies. For example, as a T-Mobile customer, autopay saves me $5 monthly.
Additionally, it prevents you from incurring late fees for missed payments. Besides, autopay frees you from worrying about whether you’ve paid this month’s bill.
23. Utilize loyalty programs.
Points can be earned at your favorite stores and redeemed for discounts or free gifts. To maximize the benefits of loyalty programs, consider enrolling in more than one program at the stores you frequent. As a result, you can earn points from multiple retailers and increase your chances of receiving discounts and freebies.
Also, take advantage of promotions and double-point events to earn points faster. As a final tip, make sure you regularly check your loyalty program accounts to see if there are any bonuses or exclusive offers available.
24. Use only the ATMs of your bank or credit union.
If you use the ATM of another financial institution once a week, it might not seem that big of a deal. However, over the course of a year, that’s more than $150 if each withdrawal costs $3.
25. Challenge yourself.
Make it a challenge not to spend money for a day or weekend. I think this would be a great way to practice budgeting and discipline. Additionally, it could help you save money in the long run.
Alternatively, you can curb impulse purchases by waiting 24 hours before making a non-essential purchase.
Don’t forget that small changes can have a significant impact. If you incorporate these simple tips into your routine, you’ll be surprised by how much you’ll save.
FAQs
Can I really save $25 in 25 seconds?
It depends!
Some tips will help you save money quickly, while others will set you up for long-term habits. Consider the ones that will work for you.
What if some tips take longer than 25 seconds?
That’s possible. However, use the ideas above as a jumping-off point. A rewards program might take longer to sign up for at first, but you’ll save time and money in the long run.
What are some good strategies for saving?
- Save money automatically. Put automatic transfers into your savings account to “pay yourself first.”
- Set a savings goal. Having a clear goal, such as a vacation or emergency fund, can boost motivation.
- Put yourself to the test. By having a “no-spend day” or week, you can tighten your belt and build savings.
How much should I aim to save?
A good starting point for an emergency fund is 3-6 months of living expenses. Ideally, you should aim to save 15-20% of your income over time.
Saving sounds like deprivation. Is there any fun involved?
You shouldn’t feel punished for saving. Saving money can be fun.
Whenever you reach a milestone, reward yourself. For instance, try fun, inexpensive activities like picnics and game nights. You should also focus on the positive feelings you get from achieving your financial goals.
Image Credit: cottonbro studio; Pexels
