In this day and age, it’s absolutely important to save money. That doesn’t mean having to open a savings account and depositing your money there. There are other ways for you to earn and save so much. You’re bound to save more cash if you practice these tips on how to save more for your home and your family.
Sign up for discount cards or rewards cards
These cards work in such a way that when you buy something from a store, you accumulate points. When you’ve gotten enough points, you can use them instead of cash when you pay for a future item. Many stores have reward cards, but it’s best for you to choose which ones you’d use regularly, like a grocery rewards card. You can sign up for a small one-time fee (usually P100) at the cashier (they usually ask you if you want one) and get your card in a matter of days. There are some reward cards that you can use in different stores from the same retail group, too.So if you frequently shop for clothes, it’s good to get a rewards card to get discounts in the future.
Write a shopping list and stick to it
Usually, when you’re out in a mall, you will have the tendency to impulse buy and thus make an unnecessary purchase. Stop wasting money by writing a list and sticking to it. When you create a list, write your budget on top of the list (ex. Budget: up to P1,500 only!) and list down the necessary things you need to buy. You can also ask members of your family what one item they want from a store so that they, especially the younger ones, can practice shopping on a budget. This is especially good when you’re out grocery shopping. Look for ingredients that fit within your weekly meal plan to avoid buying food that will just go to waste.
Clean out your closet (and sell or donate usable, unused stuff)
More often than not you tend to stock up on clothes, especially after the Christmas holidays, an end-of-season sale, or after a shopping trip overseas. Your closet is about to burst with more than a dozen of clothes you’ve forgotten to wear over the past few months. While some of them may have sentimental value, they don’t have any other use if you don’t want to wear them anymore. This is a sign that you need to clean out your closet. Get three boxes and label them as: Keep, Sell, and Donate. Theoretically, you want to keep the clothes that (still) fit you and surpass any season or style. Sell those you feel you bought on an impulse, and have worn not more than twice. Donate clothes that are still useful but won’t have much of market value. You’ll be glad to trim your closet space down to a minimum.
Stop smoking
One pack costs almost P100, and getting that money isn’t easy. Why waste that much on something that gives you illness in the end? You’ll save money if you stop smoking altogether and avoid trips to the hospital because of a respiratory illness. You’ll do much better and save more without a puff of cigarette.
Buy appliances that will last
The best way to find out if a washing machine lasts for a long time is to do some research on reviews of the brand. You want to look for home appliances that will work as long as you do. Search brand by brand until you find the right match for you. If it’s within your budget, you can go buy it immediately. You’ll save so much more in the long run.
Plan and prepare your meals ahead
The night before you go grocery shopping, sit down with your spouse, parents, or even yourself about what you all want to have for breakfast, lunch, and dinner for the next seven days. This is a cost-efficient way of saving money. You can do away with wasting food, overbuying ingredients, and doing impulse buys while you’re at the grocery.
Don’t resort to retail therapy
You’re stressed after a long week of work, or your home doesn’t feel like one right now. Whatever your situation is, it’s not a good idea to withdraw your savings account and make purchases based on your current emotional state. Not only will you feel bad when you run out of cash, you’ll also feel more down when you wonder what you’re going to do with everything you just bought. There are other affordable-even free-ways to de-stress, like sleeping, meditating, reading a book, or simply walking in the park. These might not solve your problems, but they won’t add any more, unlike the so-called “retail therapy.”
Cancel subscriptions
When you can, don’t renew your subscriptions to magazines and newspapers you’ve never bothered reading in the first place. But if you want to keep some subscriptions, do it digitally—it’s cheaper and won’t add so much physical space in your home. You’ll save a good amount of money if you stop spending for those kinds of literature.
Do regular scheduled maintenance for your car and appliances
A semi-annual aircon cleanup, for example, keeps your air con healthy throughout the rest of the year. Checking your car’s wheels, engine, and other internal parts can give you an idea if you need to replace something without spending so much later on. All appliances, for them to run smoothly, need to be checked regularly to avoid higher electric bills and replacement costs.
Buy staples in bulk
When you use items regularly, such as powder detergent, toilet paper, and cooking oil, it’s best to buy them in bulk so that you don’t have to keep buying them each time in the grocery. This will reduce costs and in the long run can save you a good amount of cash.
When you use any or all these ways to save money, you’ll be able to appreciate your creativity in how you can find even more ways to make money and save it. While having a savings account can help you keep cash, it’s also good to complement that with everyday actions that contribute to your healthy financial journey.