Surveys show that many Americans are spending as much or more than they did before the recession. A consumer research firm, Mintel, found that consumer spending is up 5% compared with 2012. But with more people spending, the prices of goods are also on the rise, and your bank account may suffer once again.
No matter the economic climate, it’s always smart to live frugally. Living within your means doesn’t mean living without fun or enjoyment. With a little restraint and creativity, spending less can be more rewarding.
Save Where You Already Shop
Just because you want to save money doesn’t mean you have to stop spending altogether. In fact, there are often ways to save a few dollars at the shops and businesses you frequent.
If your favorite stores offer loyalty programs, join them, as you can benefit from special sales, and earn points on purchases that can lead to future discounts. Check to see if shops or restaurants offer specials at quieter times. Don’t forget: It never hurts to ask, because there might be deals you don’t know about.
Get Smart About Money Management
Altering the way you save and spend your money can also help your financial situation. Ask your employer to direct deposit your paycheck (or at least part of it) into your savings, rather than your checking account.
Use your checking account to budget for your regular expenses. This way, you’ll be able to save most of your income in a fund you’re less likely to tap into, so you can easily save for more significant purchases or investments.
When making purchases, pay in cash, rather than a debit or credit card. When you see the money you are spending, you are more likely to carefully consider your purchases.
Why Not Try DIY?
Trying your hand at home projects not only helps save money, but it can also be good for your health. You might even discover an unknown passion! By making a conscious effort to cook more meals at home, rather than eat out, you’ll not only eliminate unnecessary spending, but you can also eliminate unnecessary consumption of unhealthy foods.
Experimenting with cooking can also be fun, and there’s nothing quite as rewarding as watching your friends and family clean their plates, all because of delicious meals you’ve created.
Taking control of your chores can also help you take control of your finances. While cleaning services and landscapers are convenient, their fees can add up. If your health permits, take on some of your easier household tasks, such as dusting and raking leaves, which can actually relieve stress. Plus, you can be proud of the clean house and yard you’ve produced with your hard work and elbow grease.
Get a Little Help From Friends
If you need help with certain tasks that could help you save money, such as balancing your checkbook, sewing a button or baking a cake, you don’t need to spend money to learn.
Perhaps the easiest, cost-free guide you can utilize is the World Wide Web. Simply Google-ing a question can yield a wealth of advice on message boards and company sites with just a few clicks and scrolls.
Then, attack projects with your family members so that you can support one another and learn together. Often, the best way to save money is to rely on the ideas and strengths of those under your same roof, where collective thinking can come up with some fresh ideas to save a few pennies.
