6 Ways to Save Money This Month
No one likes being broke with no money at the end of the month. Especially when it’s every month. I won’t lie and tell you your financial situation will change overnight. But if you are looking for ways to save money this month — these simple tips can help you out.
If freeing up some of your cash to do more of the things you want is important to you, I understand.
Real quick, frugal doesn’t mean you never spend money; that you pinch every single penny, never buy anything expensive, only shop at Goodwill, and live a boring overall “cheap” life. Though some of that is true sometimes, here at Break Free & Win we don’t stay there. ( I love me a good thrift store, the fashion finds can be incredible!).
Simply clearing up any misconceptions before we get to it. Use these easy, stress free tips, to save and get more organized with your money.
Here are 6 simple ways to save money this month:
1. Make a budget and stick to it
First things first – you need to make a monthly budget. Not just because I said so. But for this reason – your budget empowers you to tell your money where to go instead of wondering where it went. Then you need to stick to it. Here’s why…
Making your budget and not sticking to it, is like putting an address in your GPS and then ignoring the directions – you’ll never reach the destination. So, without giving your money the direction it needs you won’t ever have more money in your pocket. That’s why you need to create your budget and stick to it.
2. Buy the store brand
Free up some of your hard-earned cash by ditching name-brand products for the store brands. I use generic over the counter medications and pay much less. You can also save by buying generic staples like flour, sugar, household cleaners, and paper goods.
Personally, I buy generic soap, milk, butter, toilet paper, soap, mouthwash, and toilet paper. (But I do draw the line at deodorant and toothpaste.) You know your limits. Draw your line wherever you like. It’s completely up to you.
3. Shop insurance rates
At least once a year you need to compare the costs you’re currently paying for car, homeowners, and medical insurance. When doing this – be sure to make the most cost-effective choice. For example, you may save on a lower premium (payment) with a different company, but that lower cost may come with a higher deductible or less coverage.
4. Turn a hobby into a side business
This is one of my favorites. Nowadays, plenty of businesses start at someone’s kitchen table, in a spare room, a garage, or basement. You can sell on sites like Etsy, but don’t limit yourself. Be bold and sell directly to customers at craft shows, fairs, and conferences. These types of events usually advertise for local participants so get out there and sell!
You get to do something you enjoy while making money! Whether your hobby is photography, making jewelry, graphic design, or sewing, you can upgrade it from a hobby to a side hustle and get paid!
5. Stop auto renewals
Did you sign up for a gym membership and barely go? That doesn’t matter to the gym. They will renew your membership each month unless you take the time and effort to go down there and cancel it. This applies to any other paid subscription or membership you have.
If you’re actually using the service – great. If you’re not using it consistently, cancel it!
6. Cut the cable and switch to another service
I’ve saved over $100 a month with this one. Try streaming services like Netflix, Hulu, and Sling TV. There are others too, but they all average about $10 a month.
By cutting cable or satellite and going with one of these alternative services – not only will you free up some serious cash each month; you get to watch what you want, when you want, with less commercials.
You may need to buy the device (ex. Amazon Fire Stick, Roku) that gets your favorite shows on your TV. Unless you have a smart TV. Check your options and make the choice that’s best for you to start saving some money.
Something to Think About
At the end of the day you work hard for your money, so don’t waste it. After all, aren’t there better ways to use your money each month instead of paying too much for insurance, shelling out for memberships you don’t use, and overpaying for cable. I think so.
It’s worth the small effort to take action, keep more of your cash and put it to better use. Such as paying down debt, building an emergency fund, a special night out with friends and family, or giving to a worthwhile cause. You can do this and more if you apply these easy ways to save money this month. It will help you free up some of your cash every month.
6 ways to save money this month
So there you have it, 6 ways to save money this month. Organize your money with a budget, buy the store brand at your comfort lever, get abetter deal on insurance, sell somethings, cancel that unused membership that adds no value to your life, and please oh please stop paying for TV channels you don’t need or watch.
Helpful post:
How to Make a Simple Budget
