10 Unconventional Ways to Save Money Daily
Wish your dollars spread a lot further than they do? Who doesn’t wish they could save more money while still maintaining a decent lifestyle? What if you found out that there were simple things you could do on the daily basis that would save you money? Aside from clipping coupons, eliminating unnecessary spending, and comparison shopping, there are tons of ways to save – that you may not have even heard of.
After carefully analyzing my budget, applying the savings tips I was aware of, and doing a little research, I was able to find even more ways to save. Many of these methods I didn’t even realize were possible, but now that I do, I’ve added it to my savings routine and have reduced many of my out of pocket expenses.
1. Bundle Your Services – Bundling is not just for your cable, phone, and internet services. Any company offering more than one product or service will allow you to bundle and save. For example, if you’re currently looking for homeowners (renter’s) insurance, life insurance, and car insurance, purchasing them from one service provider can save you additional money. Before making a purchase from a company, finding out if they’re willing to give you a discount for purchasing more than one product or service for them.
2. Switch Energy Providers – This one was new for me, but did you know that you have the option to choose your own energy service provider? If your electricity bill seems to be skyrocketing and you’ve tried other measures, consider searching for a new service provider. Electricity service providers such as ENMAX offer qualifying residents affordable energy rates. Checking price comparison sites for energy companies allows you to find out which service provider will offer you the best deal.
3. Minimize Insurance Risks – Insurance companies provide you with a quote based on varying factors including your level of risk. If you’re considered a high risk to insure, you’re going to be quoted differently. You can minimize your risk level in many ways. For instance, homeowner’s or renter’s insurance can be reduced by installing a qualifying home security system. Health and life insurance risks can be lowered by improving your health and quitting bad vices such as smoking. Car insurance risks can be reduced by having a good driving record or improving your credit score.
4. Stop Using Credit – Time to cut up your plastic and use cash only. Even with fairly low interest rates, you’re spending more money on each purchase you make. Eliminating the need to spend with plastic saves you money instantly.
5. Use the library – there’s a common misconception that the local library only carries books. Contrary to popular belief many libraries carry other forms of entertainment that can include DVDS. Instead of paying for premium cable channels, or streaming subscription services, check the library first to see if the movie you want to watch is there.
6. Portion Control – monitoring the portions you eat does more than just help you lose weight. It actually helps you to save money. If you’ve been overeating chances are you’re eating and wasting a lot of food. However, by monitoring how much you eat you’re eating less throughout the week thus saving money.
7. Eat Less Meat – another way to save money on the regular basis is to eat less meat. Introducing healthy options like “meatless Mondays” in your household could easily save you a few bucks on your grocery bill. It doesn’t mean you have to become vegan or vegetarian, simply cut back on the meat consumption as this is often the most expensive part of any grocery bill.
8. Skip the ATM – the average ATM fee in the US is $4.35 every time a consumer uses an out of network ATM machine. Even if you use the ATM machine twice per week, you’re looking at a monthly cost of $34.80. By skipping the ATM, pulling all of your money at once, or using in network machines you can save yourself some money.
9. Pick up a Skill – From making your own household necessities (i.e. cleaners, detergent, soaps), to completing your own household repairs, picking up a new skill can save you a boatload of money. Nowadays you can find online tutorials or very affordable classes that allow you to learn how to do it yourself.
- Ask for a Discount – Companies don’t like to lose customers to their competition. They’d prefer to keep you and as such will often do what they can to maintain your satisfaction. If you feel like you’re paying too much for a product or service and found it cheaper elsewhere, simply ask the company for a discount. Many are willing to match or even beat their competitor’s price just to keep your business.
These are just a few ways that you can go about saving more money on the regular basis. Many of these you’ve probably never considered but can actually save you a great deal on your monthly expenses. Try incorporating these strategies into your daily, monthly, or weekly routine and keep track of the savings. Something tells me you’ll be surprised at how easy it is to get more for less.
Photo Credit: 401(K) 2012